Thursday, August 7, 2008

Intraday Call performance 07/08/08


Volatile market ending flat


Though market started above 4500, it was trading in a narrow range in the begining and then buying came in which took nifty near 4600 again making a high of 4580 and Then market witnessed profit booking in last hour of trade and closed flat at 4523 up 6 points from the previous close.Too volatile day for the market today.The market breadth is still positive with advances at 645 against declines of 617 on the NSE. Good buying interest was seen in auto, IT, metal, bank, and realty stocks.Inflation figures will be announced todya evening.Top Nifty gainers included Sterlite, Dr Reddy and Tata Motors while losers included BHEL, Bharti Airtel and Reliance Communications

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4525 with stop loss 4545 and it hit the stop loss

Short Nifty Futures around 4550 with stop loss 4565 and it hit the stop loss

Short Tisco around 654 with stop loss 662 and it hit the stop loss

Short SBI around 1525 with stop loss 1545 and it made just 1515 and then hit the stop loss

Short Wipro around 461 with stop loss 465.2 for target 445 and it made 446....VERY GOOD PROFIT

Short Tisco around 662 with stop loss 666 for target 645-632 and it made 636....VERY GOOD PROFIT

Short India Info around 750 with stop loss 756 for target and it made 724....VERY GOOD PROFIT

Market Outloook 07/08/08


Market around support area again


Market wintenessed heavy profit booking in the last hour yesterday and made nifty to come back to 4500 level from high of 4616 level.It seemed like indian market is tired of going up as has been doing for some days and seems like corrections taking place before it starts its upmove gaain.On the global scenario, cues are still positive with Light, sweet crude for September delivery finishing the session down 59 cents at $118.58 a barrel on the New York Mercantile Exchange. It was crude's lowest settlement price since May 2; prices earlier fell as low as $117.11, a $30, or 20 percent, drop from their trading high of $147.27, reached July 11.The Dow Jones industrial average rose 40.30 to 11,656.07, after having been down nearly 100 points early in the session.Reliance might play an important role today as yesterday it again came back from resistance level of 2350 as been told here and was never able to cross that even in gap opening..! For today, 4500 will be major support and remian above that nifty will move towards first resistance point at 4555 and then again 4600 will be tested again.On lower side break below 4500 might make nifty to test support at 4440.Higher levels selling will come again today for sure.Don't go for blind selling if there is a gap down opening.

Stock watch for the day:

Today's calls only for clients

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