Intraday call performance 28/07/08

Market ending flat with little gains

Though market opened weak today, it gathered little momentum later on, but was trading flat for most part of the day ahead of the RBI monetary policy tomorrow and closing was also flat little above yesterday's close with gain of 20.25 points at 4332.Today, L&T has come out with good set of numbers for Q1FY09 and it closed at Rs 2,715.00, up Rs 89.40.Market breadth was positive, about 1923 shares have advanced, 1009 shares declined, and 219 shares are unchanged.Europe market was trdaing weak today.Nifty gainers included Tata Power, L&T and ACC while losers included ABB, Sterlite, Tata Steel, M&M etc.Thursday's expiry will bring in uncertain moves in the market in this week.

Following calls were given in yahoo messenger for clients:

Clients had a great day with very good profits today

Short Nifty Futures around 4335 with stop loss 4352 and it made 4330 and then stop loss hit

Buy Nifty Futures around 4325 with stop loss 4314 and when it made 4360, told to cover the position

Short ONGC around 1010 with stop loss 1014 for target 990 and it made 992....Super Profit

Short Reliance around 2120 with stop loss 2125 and it made just 2110 and then hit the small stop loss

Short Reliance Capital around 1325 with stop loss 1342 for target 1300 and it made 1304....Good Profit

Short Bajaj Holding around 373 with stop loss 374.2 for target 360 and it made 360....Super Profit

Short India Info around 672 with stop loss 676 for target 656 and it hit the small stop loss

Short LITL around 362 with stop loss 365.2 for target 348 and it made 346....Super Profit

Short Reliance around 2180 with stop 2190 for target 2150 and it made 2160....Good Profit

Market Outlook 28/07/08

Market may open lower today....


In effect of terrorist attacks in Bangalore and Ahmedabad, indian market might open lower today and volatility can also be expected in this week because of expiry on thursday.Tomorrow's RBI meeting also very important for the market.On global front, U.S. light crude for September delivery rose 9 cents to $123.35 a barrel by 2335 GMT. The contract fell $2.23 on Friday to settle at $123.26, after falling to as low as $122.50, the lowest since June 5.The Dow Jones industrial average DJI rose 21.41 points to 11,370.69.For today, nifty has support at 4300 and if nifty breaks 4300 then next support is only at 4265 and 4220.On higher side, nifty has resisitance at 4340 and then 4375.Be careful in trading this week because of the volatility factor.If the lower side supports are not broken down, buying will come again in the market.

Stock watch for the day:

Today's calls only for clients