Intraday Call Performance 04/11/08

Market closing bullish as expected

Market opened well below yesterday's close and even broke 3000, it recovered well and went above 3000 and as expected faced first resistance at 3080 and was trading in a range struggling to cross crucial resistance at 3080 as given here and then in the late afternoon session, heavy buying came in to lift the market breaking 3080 to make a high of straight 3150.Finance Minister P Chidambaram's meeting today with the heads of PSU banks also had positive effects on the market.He also promised adequate finance will be provided to housing & SME sector. Finance Minister is going to consider Rs 10,000 crore credit line to NHB. RBI will provide enough dollar liquidity to banks. FM aims to have CAR of 12% for all PSU banks.Nifty closed at 3142, up 98 points from the previous close.The market breadth was positive with advances at 930 against declines of 324 on the NSE. Top Nifty gainers included Suzlon, Unitech and DLF while losers included Satyam, TCS and Wipro.Bank and realty stocks led this rally followed by power, capital goods, FMCG and metal stocks.It will be interesting to see the extending of rally here onwards as market needs a breather and nifty has multiple resistances going forward now.

Following calls were given in yahoo messenger for clients:

Fantastic day of huge profits for clients today

Short Nifty Futures around 3030 with stop loss 3055 for target 2990 and when it made 3015, gave cover order

Short Nifty Futures around 3045 with stop loss 3070 and it made 3022....GOOD PROFIT

Buy DLF around 240 with stop loss 236 for target 250-256-270 and it made 300....SUPER DUPER PROFIT

Short HDIL around 135 with stop loss 137.5 for target 130 and it made just 132.9 and then hit the small stop loss

Short Bank of India around 254 with stop loss 256.3 for target 244 and it made just 251 and the hit the small stop loss

Short Infosys around 1355 with stop loss 1362 for target 1330-1300 and it made 1285....SUPER DUPER PROFIT

Short India Bulls Real Estate around 138 with stop loss 139.4 for target 130 and it made 132....GOOD PROFIT

Short SBI around 1285 with stop loss 1292 for target 1260 and it made 1263....VERY GOOD PROFIT

Buy Reliance Capital around 683 with stop loss 678 for target 695-735-750 and it made 750....SUPER DUPER PROFIT

Market Outlook 04/11/08

Market on the verge of break out..but caution ahead of U.S elections

Yesterday nifty rallied above 3000 and closed in a bullish note above 3000.Today, if stays above 3000, it will be total bullish and if not, might come down a bit.On global scenario, The Dow Jones industrial average closed 9,319.83-down 5.18 points from the previous close ahead of U.S elections today.Dow Jones moved in a range of 155 points and trading was quiet as it was evident that investors are more cautious and more focused on elections today.Stocks showed little lasting impact from the Institute for Supply Management report that its measure of U.S. manufacturing dropped last month to the lowest level since September 1982.The trade group said its index of manufacturing activity fell to 38.9 from 43.5 in September.The dollar rose against most other major currencies. Gold prices also rose.Light, sweet crude fell $3.87 to settle at $63.91 a barrel on the New York Mercantile Exchange.In indian market today, nifty above 3000 will test 3080 strong resistance and if breaks 3080, then move towards 3130 is on today.Higher level might exert pressure again.If nifty breaks 3000, then it will have strong support at 2960.Though market is looking bullish for today, trading might be cautious and indian investors also might be more focused on U.S elections today.

Stock watch for the day:

Today's calls only for clients