Intraday call performance 06/10/08

Market crashing below 3600 and nifty near major support !!

Global weekness crushed the indian markets today and this was clearly mentioned here that break of 3745 will result in 100-150 straight fall and it happened exactly as nifty made a low of 3582 after breaking 3745.Asian and Europian markets also crashed badly along with the indian market.As expected, big brother -Reliance Industries took the initiative again to crack the indian market as it crashed very badly falling to 1630 range.The market breadth was negative with advances at 57 against declines of 1227 on the NSE. Top Nifty gainers included Tata Communication and BPCL while losers included Sterlite, Suzlon, Tata Steel and DLF.It was a scary fall in indian market as nifty reaching 3550 from level above 6000 !

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3655 with stop loss 3635 for target 3685-3710 and it made 3706....HUGE PROFIT

Buy Nifty Futures at 3650 with stop loss 3638 and it made 3667....GOOD PROFIT

Buy Kotak around 514 with stop loss 509 and it hit the small stop loss

Buy Reliance Industries around 1700 with stop loss 1690 and it made 1724

Buy Bank of India at 280 with stop loss 278 and it hit the small stop loss

Short Reliance Infra around 683 with stop loss 692 for target 660-650 and it made 626....HUGE PROFIT

BUY ONGC around 985 with stop loss 980 for target 1000 and it made 998....GOOD PROFIT

Buy Bank of India around 265 with stop loss 263 for target 272 and it made 274....GOOD PROFIT

Market Outlook 06/10/08

Market near the crucial edge again !

Indian market crashed again on friday and closed well near to 3800 support area.On global front, The Dow Jones industrial fell 157.15 points to 10,325.70 after the U.S. House of Representatives approved a $700 billion financial rescue plan as investors are still in uncertain condition about this rescue plans of the government.The U.S. crude settled at $93.88 a barrel, down 9 cents.Now for today, if nifty reminas above 3800 it will be positive and if breaks 3800, then it will slide heavily towards one more big support area 3745-which has to be protected or else another 100-150 points big fall cannot be ruled out and on upper side, nifty has crucial resistanes at 3870 and 3920 and then 3980 strongest resistance.So, watch out for the crucial begining on the week.It will also be interesting to see the market major Reliance Industries in action today.
Banking, Real estate and Infrastructure stocks will be interesting to watch today.Nifty might also open gap down near the support area.So, better to watch out for the crucial first hour.

Stock watch for the day:

Today's calls only for clients