Intraday call performance 22/09/08

Market closing flat

Though market opened high above 4300, it was just for minutes as it directly fell to 4265 resistance zone as mentioned here and then never recovered from there and fell towards strong support of 4200.Morning session, market was range bound and was trading in a narrow range.Market mover Reliance Industries took the initiative again by dragging the indices down.European markets were marginally down today.Nifty closed at 4223, down 22 points from the previous close.The market breadth was negative with advances at 534 against declines of 709 on the NSE. Top Nifty gainers included ACC, Tata Steel and ITC while losers included Suzlon, L&T and Maruti.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4275 with stop loss 4286 and gave cover order at 4220....SUPER PROFIT

Short Bank of India around 288 with stop loss 290.2 and it just made 286 and then hit the small stop loss

Buy Reliance Capital around 1284 with stop loss 1275 and it made 1305....SUPER PROFIT

Short Reliance Infra around 912 with stop loss 917 for taregt 880 and it made 871....SUPER PROFIT

Short ICICI Bank around 624 with stop loss 629 and it hit the small stop loss

Short Suzlon around 210.5 with stop loss 213.2 for taregt 200 and it made 196....SUPER PROFIT

Market Outlook 22/09/08

Whole Global Market is zooming..!!

It was a fantastic day of trading on friday as indian market also followed global trend and rallied and closed very bullish.On global front, The Dow Jones industrial average jumped 368.75 points to close at 11,388.44 on friday after U.S government came out to support losing banks and also due to temporary ban on short selling in certain financial stocks.Crude oil which came around $90, started climbing up now and closed at $102.73 .Today DOW is definitely expected to give up most of the gains after 2-3 days of huge rally.In indian market, many stocks are looking hot and if nifty breaks 4265 today, it will directly go towards 4330 resistance and if nifty gets past this then it will face one more resistance at 4355 and then 4380.So, mutiple resistances for nifty above 4265 and below 4265, nifty will face some selling and downward supports are at 4200 and 4160 Higher level be cautious in today's market.

Stock watch for the day:

Today's calls only for clients