Intraday call performance 23/09/08

Market crash below 4200 as expected !

Though market opened weak below 4200, it made a smart recovery to take nifty above 4200 in the morning session, but again faltered at higher levels to fall to make a low of 4118 and then close at 4126, down 96 points from the previous close due to global weekness and crude spike.European and Asian markets were also trading low.Huge selling was seen in realty, banking, technology, capital goods, telecom, metal and power stocks.The market breadth was negative with advances at 235 against declines of 1023 on the NSE. Top Nifty gainers included Sun Pharma, Nalco, BPCL and Cairn while losers included Ranbaxy, Satyam, TCS and DLF.Expiry volatility was witnessed today as expected.

Following calls were given in yahoo messenger for clients:

Day was too good for all my clients

Short Nifty Futures around 4210 with stop loss 4220 and small stop loss hit

Short Nifty Futures around 4210 stop 4224 for target 4180-4150 and gave cover order exactly at 4150....HUGE PROFIT

Short Reliance Capital around 1252 with stop loss 1260 and it hit the stop loss

Short Punjab LLoyd around 301 with stop loss 303.2 and it hit the small stop loss

Buy Kotak Bank around 611 with stop loss 606 for target 625 and it made 621....GOOD PROFIT

Short Reliance Infra around 872 with stop loss 880.5 and it hit the small stop loss

Short Suzlon around 203 with stop loss 205.5 for target 195 and it made 192.7....HUGE PROFIT

Short Reliance Infra around 890 with stop loss 902 for target 855 and it made 859....HUGE PROFIT

Short Bank of India around 286 with stop loss 288.5 for target 278 and it made 278.4....HUGE PROFIT

Short DLF around 403 with stop loss 405.5 for target 394 and it made 392.5....HUGE PROFIT

Short TCS at 763 with stop loss 768 for target 750-730 and it made 715....HUGE PROFIT

Market Outlook 23/09/08

Crazy jump of crude oil shows the depth of manipulation !

Yesterday nifty reacted exactly at my resistance level around 4265 and came down towards 4200 and weekness is expected to continue today also and today there might be lots of volatility in the market due to various factors like thursday expiry and uncertain global cues etc.In global scenario, it was crazy trading in crude oil which shows the depth of manipulation in that ! Light, sweet crude for October delivery jumped as much as $25.45 to $130 a barrel on the New York Mercantile Exchange before falling back to settle at $120.92, up $16.37.The Nymex temporarily halted electronic crude oil trading after prices breached the $10 daily trading limit. Trading resumed seconds later after the daily limit was increased.The Nymex temporarily halted electronic crude oil trading after prices breached the $10 daily trading limit. Trading resumed seconds later after the daily limit was increased.The Dow Jones Industrial average crashed 372.75 points to close at 11,015.69 as given here yesterday (read my yesterday's blog) For today, in indian market nifty below 4200 will be very weak and will move towards 4140 strong support and break of this will be very bad for the market.Upper side nifty will face resistance around 4240 and then at 4270 strong resistance.

Stock watch for the day:

Today's calls only for clients