Intraday call performance 18/09/08

Markets closing in green ahead of inflation figures announcement

Nifty once broke 3900, it was direct fall straight to low of 3799 and then heavy short covering came to lift the market to make a high of 4050.Nifty closed at 4038, up 29 points from the previous close.It was massive short covering in the later part of morning session after global banks took measures to improve liquidity in markets.Short covering was seen in banking stocks, which supported markets to end in green.The Asian and European markets also did well.Surprisingly trading volume was huge today.Though The market breadth was negative with advances at 296 against declines of 987 on the NSE. Top Nifty gainers included Suzlon, PNB and RIL while losers included Ranbaxy, Unitech and DLF.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures at 3895 with stop loss 3915 for target 3875 and made 3875.5

Short Nifty Futures around 4000 with stop loss 4020 and it hit the stop loss

Short Nifty Futures around 4025 with stop loss 4045 for target 3990 and it made 4012 and then hit the stop loss

Buy SBI around 1480 with stop loss 1465 for target 1500-1530 and and gave exit call at 1530....SUPER DUPER PROFIT

Buy Kotak Bank around 526 with stop loss 520 for target 545-570 and gave exit call at 570....SUPER DUPER PROFIT

Short Bank of India at 264 with stop 265.5 for target 258 and gave cover order at 265

Short Suzlon around 191 with stop loss 194 and it made just 189.8 and then hit the stop loss

Short Reliance Infra at 795 with stop loss 802 for target 770 and it made 788 and then hit the stop loss

Short DLF around 400 with stop loss 404 for target 390 and it made 391.5....GOOD PROFIT

Market Outlook 18/09/08

Expect volatile market today

Though indian market plunged in the opening yesterday, made a smart recovery later and then again ended in negative at closing and if nifty slides below 4000 today, 3900 might again play an decisive role here.On global front, cues are very negative as The Dow fell 449.36 to 10,609.66, finishing near its lowest point of the trading day and about $700 billion in investments vanished as the american financial problems have appeared to be facing the problems of its life time and investors seems to be very scary of stock market now.As the stock market staggered, the price of gold, which rises in times of panic, spiked as much as $90.40 an ounce. Bonds, a traditional safe haven for investors, also climbed.So, in indian market if there is low opening don't go for blind selling at lower end as buying will come at lower side.Today, if nifty gets past 4040 it will test 4100 today and staying below 4040 will be bad and lower end support will be at 3975 and then at 3925.Inflation figures will be announced today evening and market also will be volatile today.Last hour trading will be crucial again.

Stock watch for the day:

Today's calls only for clients