Market Outlook 29/07/08

Market may open low today....

Market closed flat yesterday ahead of the RBI monetary policy today.Today, global cues are negative as Dow Jones industrial average fell 239.61, to 11,131.08.Monday's pall over the market wasn't solely because of flagging confidence in the financial sector. Investors are also waiting to see whether oil prices' sharp drop of recent weeks has come to an end, or is just pausing. Light, sweet crude rose $1.47 to settle at $124.73 on the New York Mercantile Exchange.Gold gained on Tuesday as crude oil rose after militant attacks cut Nigerian output, elevating the metal's appeal as a hedge against inflation. Gold rose to $932.30/933.30 an ounce from $928.45/929.65 late in New York on Monday, when it rose more than $1 an ounce.Reserve Bank of India (RBI) has said potential inflationary pressures from international food and energy prices appear to have amplified. By current indications, it said, they are likely to remain for some time.So, for today, with all these negative cues, we might open gap down or will fall down from high's againBelow 4300, nifty has only 2 strong supports at 4265 and 4220.Nifty will be positive only above 4385.Till nifty is below 4385, it is weak only.

Stock watch for the day:

Reliance Capital (1312): Short this stock at higher levels with stop loss 1342 for targets 1290-1275

Intraday call performance 25/07/08

Reliance Industries took the lead in dragging market down as expected..!


Market opened weak today with weak global cues and it being the last day of the week encouraged profit booking and also Reliance Industries going down below 2200 straight and till the end market never recovered though there was small recovery in the late afternoon, market again collapsed due to some bomb blasting news in Bangalore. Nifty shut shop at 4311, down 121 points. CNX Midcap and BSE Smallcap indices lost 0.3% each. Defensives like FMCG and healthcare gained, while banking, realty (ahead of the Credit Policy announcement next week), oil & gas and capital goods stocks saw heavy selling pressure. Biggest losers on the Sensex include ICICI Bank, HDFC, HDFC Bank, JP Associates, ONGC, while gainers were Ranbaxy, ACC, HUL and Grasim, among others.Next week will be interesting with Credit Policy announcement and also expiry week.


Stock watch for the day:


RCom: This was told weak below 515 till 490 and it opened at 486 target and made high of just 516


Following calls were given in yahoo messenger for clients:


It was a good day for clients today....


Short Nifty Futures around 4370 with stop 4382 for target 4340-4320 and it made my target at 4320


Buy JSW Steel around 795 with stop loss 789 for 815-825 and it went upto 808


Buy DR Reddy at 628 with stop loss 620 for target 645-655 and it made just 638.Then gave exit call at 636


Short RCom at 505 with stop loss 510 and it made just 500 and when it went up, gave cover call at 505 itself


Short ONGC around 1012 with stop loss 1022 for target 980 and it made 974....Super Profit


Buy Maruti around 603 with stop loss 600 for target 625 and it made 623....Super Profit


Buy Reliance Industries at 2138 with stop loss 2129 and it made 2165....Good Profit


Buy Reliance Capital around 1326 with stop loss 1324 for target 1363 and it made just 1340

Intraday call performance 21/07/08

Volatile day ending with bullish note

Though market started trading above 4100, it was not moving much in the morning session ahead of the vote of confidence motion for the government survival tomorrow and also volume was low and then it turned very volatile and then Later on in the afternoon session, buying came in which lifted the market above 4150 to make a high of 4168.On the global front, Asian markets finished strong and European markets have bounced back in mid session.Stocks like Cipla, Maruti Suzuki, ICICI Bank, Ranbaxy did well today, while losers were Satyam Computer, Ambuja Cements, L&T, BHEL etc.Tomorrow is a big day for indian market now.All indictaions of government survival is there at this moment and also this news was taken very nicely by market today.

Stock watch for the day:

RCom : This was given a short call with stop loss 460 for atregt430 and the low recorded in this stock was 430 and high 457

Following calls were given in yahoo messenger for clients:

Clients had a very decent day of profits today

Buy Nifty Futures around 4120 with stop loss 4103 and then coveerd around 4116 with small loss

Short Nifty Futures around 4115 with stop 4125 for 4090 made 4092

Buy Nifty Futures around 4095 with stop loss 4089 made 4104 and came down to hit 4086 and then zoomed above 4150..!

Buy Bombay Dyeing around 550 with stop loss 545 for target 565 and it made 561

Short BGR Energy around 314 with stop loss 320 for target 300 and it made 299

Short Tata Steel around 608 with stop loss 615 for target 590 and it made 593

Short India Info around 635 with stop 638 and it made 626

Short Kotak Bank around 484 with stop 487 for target 475 and it hit 474

Market Outlook 18/07/08

Upmove to continue today also

Yesterday it was a very good day for indian market as market zoomed and closed bullish and bullish move is expected to continue today also.Oil prices tumbled below $130 a barrel for the first time in more than a month Thursday, as crude's dramatic slide entered a third day accompanied by a sharp sell-off in natural gas.Light, sweet crude for August delivery dropped $5.31 to settle at $129.29 a barrel on the New York Mercantile Exchange. Prices have fallen nearly $16 in just the past three days.Dow Jones industrial average rose more than 200 points to settle at 11,446.66.Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 7.17 billion shares, compared with 6.58 billion shares traded Wednesday.For today, nifty will open gap up for sure and above 3970 will target 4000 first and then 4065 will be tested and if nifty remains above 4000, it will remain explosive today and below 4000, 3970 will act as good support and if breaks that 3900 will be the strongest support for today.Coming week will be very crucial for indian market again as No-Confidence motion will be put up on 22nd tuesday and markets may move madly on that day as news keep poring in and if the government falls, it may trigger sharp sell off again.But for today, trend is very bullish.

Stock watch for the day:

Reliance Capital (1028): Buy this stock at dips with stop loss 1000 for target 1055-1075

Intraday call performance 17/07/08

Market bounce back strong with crude dip

As expected it was higher opening today because of positive global cues and strong European markets also added to positive sentiments. Though nifty went for some selling later, still held on to strong supports on downside and made a high of 4968 and even closed in positive territory again.Top gainers are Maruti Suzuki, HDFC, Jaiprakash Associates, BPCL and GAIL while Ranbaxy Labs, Tata Steel, Sterlite Industries and SAIL losers.Now, next few day's will bring in volatility again with top news is on Government-No-Confidence motion on 22nd which is very crucial for the market survival.

Stock watch for the day:

Adlabs: This was given a buy call with stop loss 388 for target 410 and it made a high of 424

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3860 with stop loss 3838 and it made 3896 and gave cover order

Short Nifty Futures around 3900 with stop loss 3915 and it made 3865

Short Nifty Futures around 3925 with stop loss 3945 made 3888 and told to cover all position

Short Baja Hindustan around 154 with stop loss 156 for taregt 145 and it made 148

Short Bank of India around 236 with stop loss 237.5 and it made just 235 and then small stop loss hit

Short India Info around 615 with stop loss 618.5 for target 590-575 and it made 592

Short RPL around 153 with stop loss 157.5 for taregt 144 and it made 147

Short Reliance Infra at 794 stop 802 for target 774 and it hit the stop loss

Buy Reliance Capital at 1020 with stop loss 1006 and it made made 1030 and gave cover order around there

Market Outlook 17/07/08

Oil crashing down..is it one more manipulation now..!

Yesterday it was a bad day for indian market again as market went for deep selling and for today, positive global cues may result in higher opening. Light, sweet crude for August delivery fell $4.14 to settle at $134.60 a barrel on the New York Mercantile Exchange, after earlier sinking as low as $132. The drop follows a $6.44 sell-off Tuesday, crude's biggest since the Gulf War.The huge swings oil had in two day's is amazing as it dropped by more than $10 Tuesday and $7 Wednesday and it makes us think whether this is one more manipulation or is it really coming down..! The Dow took positives from this oil drop and rose 276.74 to 11,239.28. It was the blue-chips biggest one-day gain since April 1, when the index rose 391 points.The dollar was mixed against other major currencies, while gold prices fell. For today, be cautious if there is higher opening near 3900..- as remain below 3920, market is weak only and if nifty breaks 3920 then one more resistance is there at 3960.So, be cautious at higher levels and below 3900 supports are at 3850 and 3790.Inflation figures are expected to be announced later in the evening today.

Stock watch for the day:

Adlabs (395): Buy this with stop loss 388 for target 405-410

Market Outlook 14/07/08

Interesting week ahead for market

Market crashed on friday with high inflation and crude oil and will resume again today with weak global cues.The Dow Jones industrials on Friday briefly fell below 11,000 for the first time in two years settling at 11,100.54 and the oil prices on Friday soared to a new trading record above $147 a barrel, following the two-day pullback back of nearly $10 a barrel Monday and Tuesday.With political uncertainty continuing, indian stock market is weak and facing selling at every raise.This trend may continue till the day of vote of confidence motion.Investors seems to be more scared in investing now, though market is at an attractive lower end and in oversold condition. Market just needs one trigger to move strongly on upper side.But now, sentiments are negative and for today on upper side nifty will face definite resistance at 4090-4115 and on downside 3990 will be strong support for today and break below that may go to 3940 support.If there is lower opening above 3850 buying might come and don't short blindly on lower side.

Stock watch for the day:

BHEL (1521): Short this stock at higher levels with stop loss 1560 for target 1500-1480

Intraday call performance 10/07/08

Markets ending flat....

Today market was trading on weaker side with little volatility and went down to make a low of 4100 and then again recovering in the last hour again to close around 4150 around the same closing level of yesterday.European markets were trading low and effect of U.S markets sell off yesterday also didn't show any effect on indian market today.Selling pressure has been seen in bank, IT, auto, FMCG, power, capital goods and oil & gas.Maruti Suzuki lost too much in today's trading.Markets are near to one more big ressitance at 4220-4245 now and will be interesting to see tomorrow's trading.

Stock watch for the day:

ICICI Bank : This was given a sellc all with stop loss 645 for target 610 and it made 593

Following calls were given in yahoo messenger for clients:

Today clients have earned huge profits in my calls

Short Nifty Futures around 4150 with stop 4165 and nifty started sliding from 4138 itself to make 4100

Buy Nifty Futures around 4085 with stop 4065 and when it made 4140, gave cover order

Short India Info around 685 with stop 692 and it made 647...HUGE PROFIT

Buy Reliance Capital around 1115 with stop 1004 and it made just 1122 then hit the stop loss

Short Maruti around 594 with stop at 600 and it made 561...HUGE PROFIT

Short ONGC around 885 with stop 892 and it made 869...GOOD PROFIT

Buy Bombay Dyeing around 573 with stop 566 and it made 605...HUGE PROFIT

Buy Adlabs around 421 with stop 415 and it made 435...HUGE PROFIT

Market Outlook 10/07/08

Always remember that the future comes one day at a time....

It was a very good day for market yesterday and now near to crucial resistance at 4220-4245 and failure to cross this will invite heavy selling again.If the market opens low, buying will emerge from lower end.Higher levels are exerting pressure and lower level invite buying and this will continue today also.Oil prices remained a concern as they finished about where they began Wednesday after jumping more than $2 earlier on reports of lower U.S. oil stockpiles and an Iranian missile test settling at $136.05 a barrel on the New York Mercantile Exchange.The Dow fell 236.77, to 11,147.44 a day after rising more than 150 points.The dollar fell against other major currencies and Gold prices rose.Indian politics still not settled and even though Mulayam seems to have given his support to the government, there is not guarantee that government will survive and until the government prove their majority, uncertanity will continue in the market.For today, nifty above 4165 will face strong hurdle at 4220-4245 and below 4160 will have strong supports at 4115 and then 4060.

Stock watch for the day:

ICICI Bank (622): Short this stock around 630-635 with stop 645 for target 615-610

Intraday Call performance 01/07/08

Market in deep red again....!

Though nifty was trading above 4000 in the morning session, buying interest was not there and as told here, once it broke 4000 huge support, it was selling aggressively that took nifty straight to make a low of 3878 and again closing was very weak below 3900 range.Market breadth was extremely weak .Manipulators seems to be hell bent on taking nifty more downwards now as they took crude to record high's.Huge sell off in European markets fueled to negative sentiments.ICICI Bank, Reliance Industries, Reliance Communication, Relaince Capital, HDFC, SBI, DLF,ONGC were all pulling the market down today.

Stock watch for the day:

Axis Bank: This was given a buy call with stop loss 585 for taregt 620 and the stock just made 610

Following calls were given in yahoo messenger for clients:

It was a good day of trading for my clients

Buy Nifty Futures around 3940 with stop 3930 and it made 3966

Short LITL around 283 with stop 285 and it made 276 and then hit the small stop loss

Short Reliance Capital around 930 with stop 940 and it made 865

Short Siemens around 377 with stop 381 and it made 362

Buy LITL at 289 with stop 286.7 and it made just 292 and hit the small stop loss

Market Outlook 12/06/08

Will it be another bull trap now...!

Inaterestingly indian market was in bullish mode yesterday and even closed near to resistance level of 4540.The Reserve Bank of India (RBI) has hiked the repo rate by 0.25 percent to 7.75 percent, keeping the reverse repo rate unchanged at 6%.The Bank rate and the cash reserve ratio are left unchanged at 6% and 5% respectively.Moreover crude oil again went up to at $136.38 and dow fell 200 points yesterday.Swelling demand from China and other developing countries has boosted oil prices nearly 40 percent so far this year, pressuring major consumers like the United States that are already struggling to cope with a housing slowdown and credit crunch.Representatives of the world's biggest oil consumer and producer nations will meet in Saudi Arabia on June 22 to discuss soaring oil prices, which producer group OPEC says are due to speculation, not a lack of supply.So, all these negative news will effect to indian market also and for today, if nifty fails to cross 4540, it will be straight fall and lower side support will be at 4475 and then 4435 and lastly 4370 strongest support.Even if nifty moves above 4540, higher level selling will come strongly. Incase, if there is lower opening, pullback is possible again if 4370 is held.

Stock watch for the day:

LITL (353): Short this stock at higher levels with stop loss 364 for lower target 345-338

intraday call performance 10/06/08

Volatile day of market ............!!

It was a very volatile day of tarding with movements on both sides and traders were totally confused when the market was showing volatility in the alst hour of trading as it was making moves on both sides.Though market openingw as well above yestedray's close, it couldn't cross the first resistance at 4545 and started sliding down slowly and in the later afternoon sldie becaome severe breaking all the inbetween supports and closing around 4460.

Stock watch for the day:

RPL : This was given a short call with stop loss 181 for lower target 164 and it made a low of 165 and high was just 174

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4430 with stop 4405 and it made 4455 and told to cover position when it came down to 4425

Buy Nifty Futures around 4360 with stop 4355 and it made 4393

Buy Dr Reddy's Lab around 698 with stop 694 and it made 710

Buy Tisco around 820 with stop 816 and it made 827 and then hit the stop loss

Buy RCom at around 540 with stop 538 and it made just 543 and then hit the smal stop loss

Short Bombay Dyeing around 636 with stop 641 and it made 628

Market Outlook 10/06/08

Time to pick up quality stocks..!

Atlast nifty broke 4440 strong support and it seemed like operators broke that support purposely to make a new low support and will be interesting to see today's moves now.For today, if nifty moves above 4545, it will test 4590 first and then testing of 4635 final strong support is on.But higher level will exert pressure for sure and more interesting part is to see the extent of pull back rally.Nifty remain below 4525 sentiments will remain weak and on downside 4575 will act as support and break below 4440 will be another big support to watch.Time for buying quality stocks at dips now and lots of money are waiting on the sidelines to be dumped in the stock market and there may be another big upmove shortly.Moreover Oil prices closed Monday at $134.35 a barrel, down from last week's high of $139.12 a barrel and if slides further will be good for the market.

Stock watch for the day:

RPL (171)-Short this with stop loss 181 for target 168-164.If moves above 182, dont short.

Market volatility continues

03/11/07

As expected by me, nifty took support from 5700 level and again was able to cross and close above 5900 mark and the market volatility is still continuing and also looks very bullish even though there are lot of negtaive factors running around like oil price raising in international market, the never ending indian political problems, us economy problems, weekening of dollar etc.Still, the market is zooming and now looking towards 6050 first and if crosses that level then we can see 6300 level very soon.Market is definitely looking like standing on needle point now and if corrections do take place anytime, then sensex might wipe out 2000-3000 points for sure.Now, since all the sebi meeting, fed meeting, p-notes issue are all over, markets might sail again on upper side very smoothly unless anything negative thing happens all of a sudden.But, market volatility wil remiana nd 5700 might become stop loss for all longs now.But, there is still lot of strength in the market as there are lot of buyers coming in at every dip in the market.Reliance pack is taking a major part here.