Intraday Call Performance 27/10/08

Deep crash and then huge short covering towards the close

It was a very volatile day of trading today as nifty-though opned above 2500, couldn't sustain above it and once it started trading below it went on crashing and made a low of 2253.Then recovery came in last hour of trading with buying coming in telecom, pharma, capital goods, realty, oil & gas and IT stocks pulling the market up above 2500 again and making a high of 2540 and then closed at 2,524, down 59 points from previous close.As expected, volatility was severe this time.As usual, it was Reliance Industries which took the initiative in breaking the market in the morning session.Market breadth was extremely weak throughout the day and about 698 shares have advanced while 2305 shares have declined. About 187 shares remained unchanged.Asian markets also trading very weak today.Top Sensex gainers include Bharti Airtel, Reliance Communications, Reliance Industries, Satyam Computer and TCS, while losers are Mahindra & Mahindra, Tata Motors, Grasim, SBI and Tata Power, among others.In this historical crash of market, there are many stocks which are at very atractive level on long term view.Investors are going on selling beyond imagination and market is definitely oversold also.

Following calls were given in yahoo messenger for clients:

Due to severe volatility, only 2 golden calls were given with super duper profits today

Short Reliance Industries around 1032 with stop loss 1040 for target 1000-985-950 and it made 930....SUPER DUPER PROFIT

Short HDIL around 129 with stop loss 130.2 for target 120-115.5-111 and it made 107....SUPER DUPER PROFIT

Market Outlook 2710/08

Uncertain market with severe volatility

It was total bloodbath in indian market on friday as it broke strong support of 2850 and went crashing down to break one more significant major support at 2590-which is a worrying part now.On global scenario,The Dow Jones industrial average fell 312.3 to 8,378.95.The Federal Reserve is expected to lower interest rates by at least a half-point to 1 percent this week. But the rate reduction is already priced into the market and unlikely to calm its restlessness.With a recession seen as inevitable, if not already under way, any Fed rate cut would be aimed at cushioning the fallout.U.S governments $700 billion financial bailout package is still not taken positively by the market.World market is seeing bad times.The Fed had moved to the sidelines out of fear that its rate cuts would worsen inflation. Since then the inflation threat has lessened. The threat of a global recession has dampened once surging prices for energy, food and other commodities.Now a few economists are starting to worry about deflation - a widespread and dangerous bout of falling prices -- if the U.S. and world economy get stuck in a long and painful recession.For today in indian market, nifty will face solid resistance around 2600 on upper side and failure to get through this resistance will result in testing of 2520 again and break will create havoc again which will take nifty towards 2400 straight..!! sentiments may be positive only if nifty gets past 2600 with volume and stays above that which will take nifty towards 2680 and then 2740 solid resistance..! one can expect severe volatility due to trading holiday's this week and also due to expiry on thursday.

Stock watch for the day:

Today's calls only for clients