Intraday call performance 25/09/08

Market closing on negative note as expected

Today market started trading negative right from opening and never recovered well and nifty closed at 4102, down 58 points from the previous close .Reliance Industries is dragging the market most of the time and today also it slipped below 2000 showing weekness.Huge selling was seen in power, telecom, technology, realty, oil and banking stocks.The market breadth was negative with advances at 364 against declines of 879 on the NSE.Much expected volatility was not there this time around but market was weaka nd was facing selling at every raise.In the final hour though, some buying came in due to expiry to take nifty above 4100, but at close was looking bearish again.

Following calls were given in yahoo messenger for clients:

Clients had a decent day of good profits today

Short Nifty Futures around 4155 with stop loss 4173 for target 4110-4085 and it made 4080 and told to cover positions....HUGE PROFIT

Short Reliance Capital around 1242 with stop loss 1262 for target 1220-1180 and it made 1182....HUGE PROFIT

Short Reliance Infra around 882 with stop loss 891 for target 855-840 and it made 861....HUGE PROFIT

Short Bank of India around 284 with stop loss 287 for target 276-270 and it made 278....GOOD PROFIT

Short Kotak around 595 with stop loss 602 for target 580-565 and it made 585 and told to cover position....GOOD PROFIT

Market Outlook 25/09/08

High volatile market today

Though market rallied yesterday, it was clearly seen the higher level pressure around 4200 and as told you all, it is definitely looking like moving below 4100 anytime.On global scenario, The Dow Jones industrial average fell 29.00 to 10,825.17.Light, sweet crude for November delivery fell 88 cents to settle at $105.73 a barrel on the New York Mercantile Exchange.Investors are still confused on the U.S plans of huge bail out in finance sectors.In indian market today, one can witness high volatility due to expiry of September month F&O contract.If nifty moves above 4180, it will retest 4210 resistance again and if crosses, 4240 will be tough resistance to cross and on downside, break below 4140 can take it towards 4115 first and then 4090.Get ready for last hour volatile trading today.

Stock watch for the day:

Today's calls only for clients