Intraday Call Performance 03/11/08

Market closing positive above 3000

Positive global cues added with RBI rate cut took the market high above 3000 today as expected.Nifty today opened above 3000 within minutes of opening and though it came down a bit, buying came in again to lift the market above 3000.Reliance Industries, L&T, SBI, ICICI Bank, HDFC, Bharti Airtel, ONGC and NTPC were biggest contributors in today's rally.But trading volume was less.Nifty closed at 3043, up 158 points from previous close is very positive for the market.Banking and realty stocks, along with capital goods, rallied today.Top Sensex gainers include Reliance Infrasructure, JP Associates, DLF, Ranbaxy, while losers were Satyam Computer and Infosys.Remain above 3000 will be good for the market tomorrow unless we have a big negative news around.Today it will be interesting to see how DOW trades and positive close will boost indian market tomorow also.

Following calls were given in yahoo messenger for clients:

It was a good trading day with good profits for clients

Short Nifty Futures around 3040 with stop loss 3065 for target 2960 and it made 2960 and gave cover order....SUPER DUPER PROFIT

Short HDIL around 152-153 with stop loss 154.4 for target 142-136 and it made 136....SUPER DUPER PROFIT

Short India Bulls Real Estate around 126 with stop loss 128.3 and it made just 123.4 and then hit the stop loss

Short Sail around 88 with stop loss 89.2 and it made 86.8

Short RCom around 226 with stop loss 229.2 for target 218 and it made 221.8....GOOD PROFIT

Short SBI around 1220 with stop loss 1228 for target 1190 and it made 1203....GOOD PROFIT

Short JSW Steel around 311 with stop loss 313.2 for target 305 and it made 308 and told to cover position

Market Outlook 03/11/08

Positive global cues can help nifty today

It was a very volatile day of market opening up with a huge gap up on friday and then sudden crash and again move up in the last hour and closing strong.Global cues are still positive for today also, but upper level is seen exerting pressure in the market.Another positive news is of RBI cutting CRR by 1%, repo rate by 0.5% signaling softening of interest rates to prop up growth.The SLR cut would inject about Rs 40,000 crore into the banking system.The Dow Jones industrial average gained 144.32 points, or 1.57 percent, to 9,325.01.Financial shares, led by a more than 8 percent gain in JPMorgan Chase lifted Wall Street as the interbank borrowing cost eased.The interbank cost of borrowing dollars, sterling and euros again eased in overnight markets, lending support to equities.But economic data on Friday that showed U.S. consumers are tightening their belts offered more evidence of a deep slowdown, though the market appeared to shrug it off.Oil fell nearly $2 on Friday as weak demand and the global economic crisis put crude on track for the biggest monthly drop ever.U.S. crude fell $1.82 to $64.14 a barrel.It was the sharpest economic decline in seven years for the United States, the world's largest oil consumer, provoking further falls across commodities and global stock markets.For today's market in india, Nifty might turn positive only above 2920 and if stays above 2920, it will hit 2945 first and then 3000.But, if nifty fails to test 2920, it will come down sharply towards 2850 support first and then to 2790.

Stock watch for the day:

Today's calls only for clients