Intraday Call performance 01/08/08

Reliance taking charge of huge upmove of index..!

Market opened weak as expected because of weak global cues and picked up well at supports to break all the resistances in between to make a high of 4423 and Reliance Industries seemed to have taken full control of this huge upmove as it moved from 2153 to make a high of 2313 straight.Europe was trading weak and this also didn't effect our upmove today.Huge buying was seen in capital goods, power, oil & gas, banking, metal, realty and technology stocks.Top Nifty gainers included PNB, Suzlon and HDFC while losers included Reliance Communications, Tata Power and ACC.The Asian markets closed weak today.Monday trading will be interesting as global cues also will play a role in market movements.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4250 with stop loss 4220 for target 4300-4320 and it made 4320....HUGE PROFIT

Short Nifty Futures around 4335 with stop loss 4350 and it made 4310....GOOD PROFIT

Short Nifty Futures around 4380 with stop loss 4400 and it made just 4366 and then told to cover position at 4383

Short Tisco around 675 with stop loss 680.2 for target660 and it made just 666

Short India Info around 676 with stop loss 682 for targets 660 and it made just 672 and then hit the stop loss

Short india info around 684 with stop loss 686.2 and it made 667....GOOD PROFIT

Short BRFL around 326 with stop loss 330 and stop loss hit

Short Tata Motors around 400 with stop loss 404 for target 394 and it made 393....GOOD PROFIT

Short RPL around 166 with stop loss 167.2 and it hit the smal stop loss

Buy Reliance around 2230 with stop loss 2215 for target 2265-2290 and it made 2313....HUGE PROFIT

Market Outlook 01/08/08

Markets are range bound....!

market was very range bound in the expiry day and was waiting for inflation figures to be announced in the evening and The annual rate of inflation for the week ended July 19 once again rose marginally to settle at 11.98 per cent as against 11.89 per cent for the previous week.The Dow Jones industrial average fell 205.67, or 1.78 percent, to 11,378.02, continuing its string of erratic, triple-digit daily swings after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers.Light, sweet crude fell $2.69 to settle at $124.08 a barrel on the New York Mercantile Exchange after rising more than $4.50 on Wednesday. Oil has fallen more than $20 since hitting a high above $147 on July 11, raising hopes that inflation pressures could ease.It will be interesting to see today's opening and if nifty not able to cross 4350 resistance like yesterday, it may test 4280 very strongly an dbreak of that will go to 4260 first and then 4240.On upper side, above 4360 there is one more resistance at 4365 and then straight to 4400.Higher level selling will come for sure.There might be gap down opening also.Overall interesting day today.

Stock watch for the day:

Today's calls only for clients