Friday, October 3, 2008

Intraday call performance 03/10/08


Market cracking as expected !


As told here, nifty never crossed 4000 and remianed weak and crashed to make a low of and closed at 3818, down 132 points from the previous close.The main contributor of this downfall as usual was Reliance Industries.The Asian markets also closed weak.Today's last hour saw huge selling.The market breadth was negative with advances at 223 against declines of 1030 on the NSE. Top Nifty gainers were Ranbaxy, BPCL and Sun Pharma while losers included Tata Steel, ICICI Bank and Sterlite.So, the weak closed in bearish mode today.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 3915 with stop loss 3940 for target 3860 and when it made 3850, told to cover all position....HUGE PROFIT

Short TCS around 654 with stop loss 657 and the small stop loss hit

Short Reliance Infra around 784 with stop loss 793 for target 760-740 and it made 730....HUGE PROFIT

Short ONGC around 1022 with stoploss 1029 for taregt 1009 and it made 1013

Short TCS around 653 with stop loss 660.5 for target 640-630 and it made 643

Short Reliance Capital around 1095 with stop loss 1107 and gave cover order around 1080

Buy Reliance Capital around 1078 with stop los 1072 and it made 1088 and told to cover anywhere in profit as it was final hours of trading

Market Outlook 03/10/08


Below 4000 nifty remains weak


Indian market just recovered from low's on wednesday and closed good.But, as i mentioned on wednesday itself, today's moves will depend on global cues as yesterday was a trading holiday and global cues are negative for today as DOW jones fell 348.22 to 10,482.85 even after the $700 billion financial industry bailout found a second life on Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.Unemplyement worries again showing concern in U.S now.The U.S has also extended ban against all short-selling in the shares of more than 800 financial companies till 17th of this month.Light, sweet crude fell $4.56 to settle at $93.97 a barrel on the New York Mercantile Exchange. Gold and other commodities also declined during the session.So, be cautious in higher levels today.Nifty has to get past crucial resistances at 4000-4025 for further upmove and if nifty breaks 3920, it will slide to 3880 first and then break will take to 3845.

Stock watch for the day:

Today's calls only for clients

n