Intraday call performance 01/09/08

Flat closing for the market

Though market was trading above 4300 in the morning session, it couldn't sustain above 4300 and came down straight to test 4280 level and bounced back from there again lifting index and closed flat at 4348, down 11 points from the previous close. Asian and Europian market were trading weak today.Sell off continued in metal, telecom, power, auto and technology stocks while buying seen in oil and banking stocks.The market breadth was negative with advances at 566 against declines of 677 on the NSE. Top Nifty gainers included HCL Technologies, ITC and HDFC Bank while losers included Ranbaxy, Tata Steel and Bharti Airtel.Buying interest was not seen much today and trading volume was also low.Now that expiry got over, volatility was also not much today.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4320 with stop loss 4315 and it just made 4325 and then told to cover around 4318

Short Nifty Futures around 4285 with stop loss 4305 and it made just 4279 and gave exit call around 4284

Buy Nifty Futures around 4283 with stop loss 4275 and it made 4360

Buy SBI around 1380 with stop loss 1370 and it hit the stop loss

Buy Bank of India around 264 with stop loss 262 and stop loss hit

Short Unitec around 158 with stop loss 160 and it made 155

Buy Adlabs around 476 with stop loss 474 and gave cover order around 479

Short Adlabs around 478 stop 479.6 and it hit stop loss

Buy Kotak Bank around 584 with stop loss 580 for target 595-605 and it made 599

Buy SBI at 1383 with stop loss 1375 for 1400-1410 and it made 1434

Market Outlook 01/09/08

Interesting week ahead

After bullish moves on friday, it will be interesting to see today's moves as again things do look bearish below 4385.On the global front, cues are negative as all eye's seems to be on Hurricane Gustav nearing gulf coast and it's was really horrible when it hit last time around killing people in thousands.This gustav hurricane threat reduced 15 percent of U.S. refining capacity and Light sweet crude for October delivery rose Sunday afternoon $1.62 to $117.08, having earlier reached $118.60 with Dow crashing badly down 171.47 points at 11,543.71.The Nuclear deal is also showing troubles for india as it doesn't seem to sail through softly. For today, if there is down opening, recovery might come later on and on other side, nifty will face heavy resistance around 4385 on higher side and failure to cross will make move towards 4320 support and then 4280.Taking overnight positions have become so difficult these days with uncertainty in the world market.

Stock watch for the day:

Today's calls only for clients