Intraday Call Performance 31/10/08

Huge gap up opening and closing positive

It was a fantastic huge gap up opening today in the market due to positive global cues and nifty made a high of 2921-exactly at resistance zone in the opening hour and came down very sharply towards 2775 and then again bounced back in the closing hours and closed very strong at 2885, up 188 points from previous close.Market mover Reliance Industries took the major initiative today along with metal and oil & gas stocks to take the market up.Huge buying was also seen in banking, telecom, IT, auto and capital goods stocks.Market breadh was positive throughout the session and about 1768 shares have advanced while 1185 shares have declined. Nearly 237 shares remained unchanged.Volumes were very lower in today's trade.On the global front, Asian markets ended mixed and European markets were trading weak.Volatility was there today also as expected.Top Sensex gainers include Mahindra & Mahindra, HDFC, Sterlite industries, ICICI Bank, JP Associates

Following calls were given in yahoo messenger for clients:

It was a fantastic profit day for all my clients today

Short Nifty Futures around 2945 with stop loss 2972 for target 2890 and it made 2897....VERY GOOD PROFIT

Short Nifty Futures around 2950 with stop loss 2972 for target 2920-2880 and when it made 2860, told to cover the position....SUPER DUPER PROFIT

Short RCom around 205 with stop loss 207.2 for target 200 and it made 199....VERY GOOD PROFIT

Short HDIL around 152 with stop loss 154.2 for target 143-136 and it made 140....SUPER DUPER PROFIT

Short SBI around 1175 with stop loss 1182 for target 1160-1135-1100 and it made 1065....SUPER DUPER PROFIT

Short India Bulls Real Estate around 125 with stop loss 126.2 for target 119-115 and it made 117....SUPER DUPER PROFIT

Market Outlook 31/10/08

The level of 2740 still showing crucial trend

After a break of one day, market will resume today.It was a volatile day on wednesday with nifty feeling pressure at higher levels and the trend is expected to continue today also.On global front, The Dow Jones industrial average went up nearly 190 points with less volatility after the Commerce Department's report that GDP fell at an annual rate of 0.3 percent during the third quarter -- its worst showing in seven years. Analysts expected a 0.5 percent decline in GDP, the broadest measure of economic growth or contraction, but while the report was better than expected, it still pointed to an economy that is shrinking.The new report said Americans' disposable income fell at an annual rate of 8.7 percent in the quarter, the largest in records dating back to 1947 and the worst still doesn't seem to be over yet.A collapse of the housing market and locked-up lending have produced the worst financial crisis to hit the country in more than 70 years.To cushion the fallout, the Fed slashed interest rates on Wednesday by half a percentage point to 1 percent, a level seen only once before in the last half century.The Dow Jones industrial average rose 189.73 to close at 9,180.69.On Thursday, the dollar was mixed against other major currencies, while gold prices fell.Light, sweet crude fell $1.54 to settle at $65.96 per barrel on the New York Mercantile Exchange.In indian market today, nifty is facing continuous pressure around 2740 as mentioned on wednesdaya nd today also 2740 will be crucial trend and if nifty stays above that, then it will move to 2800 and if fails to cross 2740 on higher side, it will go down to test 2620 great supporta nd break wil take to 2575.Overall interesting weekend.

Stock watch for the day:

Today's calls only for clients