Intraday call performance 07/10/08

Market just saving crucial support of 3540 and closing flat !

Market started off with a bang today moving above 3700 and then came down to support area of 3680 and then broke even that and after sun-outage break, it was straight fall below 3600 and then recovered suddenly to move 100 plus points within 30 minutes and volatility was extreme today.Late afternoon session witnessed more selling which took nifty towards strong support area 3540 and then again bounced back moving above 3600 and then closed flat at 3606, up 4 points from the previous close.Total market turnover stood at 77,297.33 crore a bit higher than Monday's trade.The market breadth was negative with advances at 332 against declines of 936 on the NSE. Top Nifty gainers included Nalco, Reliance Power and SAIL while losers included L&T,Sterlite Industries,HDFC Bank, Siemens and TCS

Following calls were given in yahoo messenger for clients:

It was a fantastic day of big profits today

Short Nifty Futures around 3710 with stop loss 3724 for target 3660 and it made 3610 and gave cover order....HUGE PROFIT

Short Nifty Futures around 3595 with stop loss 3605 and it hit the small stop loss

Buy Reliance Industries around 1668 with stop loss 1660 for target 1700-1730 and it made just 1678 and then hit the small stop loss

Short Reliance Infra around 650 with stop loss 661 for target 630-615 and it made 622....HUGE PROFIT

Short Bank of India around 282 with stop loss 286 for target 274-266 and it made 267....HUGE PROFIT

Short Reliance Infra around 662 with stop loss 671 and it made 652....GOOD PROFIT

Short Reliance Capital around 1020 with stop loss 1033 for target 990-970 and it made 963....GOOD PROFIT

Market Outlook 07/10/08

U.S economy problems creating global stock market crash

It was a scary crash in indian market yesterday and even today the global markets are very bearish and moreover
The Dow Jones industrial fell 369.88 points to 9,955.5.After trading as low as 9,525 intraday and on track for its worst-ever point decline, the Dow clawed back to close at 9,955.50, its first close below 10,000 since 2004.The sell-off came despite the $700 billion U.S. government bailout package and this huge economic slowdown in U.S has resulted in global stock market melt down.Be carefull in indian stock market as for today, nifty has great support now at 3540 and if this is not broken, it will move up to test its first resistance at 3625 and above this it will move towards 3685-3710 and If nifty breaks all important support of 3540, then one more strong support exisits at 3465 which will not be broken for sure. So, a very important and interesting day of trading today.Can india de-couple from world market today !!

Stock watch for the day:

Today's calls only for clients