Intraday call performance 04/07/08

News based volatile market

volatility continued in the indian market and today being the day of hectic political activities with Samajawadi Party about to join the government and Left about to withdraw from the government.Trading was too volatile today with moves on both sides and market started the day with little upper side from yesterday's closing and then gained momentum just before inflation numbers came which surprisingly came below 12% as Inflation for week ended June 21 has come at 11.63% versus 11.42% and market discounted this small surge in inflation and reacted well bosting nifty movements on the upper side and then after sometime came down heavily and then again recovered well to go well past 4000 and even closed in green above 4000.Stocks like Reliance Capital which was boosted by news of S.P joning the government exploded from low of 860 level to make a high of 992 in today's trade.This was even told here in the market outlook section today.Today, L&T, Reliance Industries, ICICI Bank, Reliance Communication, ITC, BHEL, HDFC, DLF and ONGC were big contributors to both indices.

Stock watch for the day:

ICICI Bank: This was given a sell call below 570 for targets 555 and it made a low of 560

Following calls were given in yahoo messenger for clients:

Clients continue enjoying profits here irrespective of volatile market conditions

Short Nifty Futures around 3930 with stop 3955 and it just made 3920 and then stop loss hit

Short Nifty Futures around 3970 with stop 3985 and it made 3935 and told all to cover position

Short ICICI Bank at 584 with stop 589 and it made 563....very good profit

Short Cairns around 255 stop 258 and it made 246....very good profit

Short RCom around 405 with stop 407 and it made just 400 and then hit the small stop loss

Short SBI around 1125 with stop 1130 and it made 1100

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.