Intraday Call Performance 10/12/08

Market closing very bullish above 2900..!!

It was a gap up opening in indian market today above 2800 and as told never came down below 2800 till afternnon when it came down to test its support of 2870 for a brief period and once it pulled up again it never looked back to make a high of 2940 and closing at 2928- up 144 points from the previous close mainly due to positive vote for an auto package by the US Congress.Reliance Industries took the initiative in taking the market up above 2900 today.The market breadth was positive with advances at 847 against declines of 369 on the NSE. Top Nifty gainers were Reliance Industries, DLF, Sail and Tata Steel.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 2870 with stop loss 2845 for target 2920 and it made 2922....SUPERB PROFIT

Short Nifty Futures around 2925 with stop loss 2942 for target 2890 and it made 2880....SUPERB PROFIT

Buy DLF around 228 with stop loss 225 for target 236-242-255 and it made 288....SUPER DUPER PROFIT

Short ACC around 450 with stop loss 452.2 for target 440 and it just made 445 and then hit the stop loss

Short Bank Of India around 251 with stop loss 253.5 for target 244-240 and it made 246.4

Market Outlook 10/12/08

Uncertainity in the market movements

Market witnessed choppy movements on monday and facing pressure at higher ends.On global scenario, DOW jones has crashed 242.85 to close at 8691.33 showing uncertainty prevailing in the market.In indian market today, if nifty gets past 2800, it will again test 2850 resistance and if stays above 2850 with volume, then chances of hitting 2900 is bright.But higher level uncertainity is still continuing here also.If nifty stays below 2800, it will first test 2740 support and then 2675 and if breaks 2675 any time, it may go to 2600 staright...! Overall an interesting day of trading today as market also resuming after a day's holiday.