Market Outlook 08/09/08

Positive Nuclear deal news will result in gap up opening

On friday it was a selling day as nifty made a low of 4329 and just saved 4320 support.Now positive news of nuclear deal will result in higher opening today.So, market is very bullish for today and will be interesting to see where it will reverse back and i think the fall of nifty this time around in coming day's might be severe.Let nifty jump and see how it reacts at strong resistances in coming day's.On global front, The Dow Jones industrial average was up 32.73 to close at 11,220.96 last friday and Light, sweet crude for October delivery fell $1.66 to settle at $106.23 a barrel Friday on the New York Mercantile Exchange -- its lowest close since early April.In an interesting development U.S Government has decided to take over mortgage financiers Fannie Mae and Freddie Mac and impact of this take over may be felt in next few day's seeing how market will react to this.For today, all global cues are positive and indian market is also looking very explosive for the day and closing today will also be of much importance for future trend.For today, nifty will face resistance at 4440 straight and then 4535-a very strong resistance which has to be watched and some selling might come at resistances and supports will be at 4440 and 4380 on downside.

Stock watch for the day:

DLF (494): Buy this with stop loss 486 for target 508-520

Intraday call performance 05/09/08

Market closing in red at the week end

As yesterday, nifty went for selling straight away due to weak global cues and even improving inflation figures didn't help in any recovery today and nifty broke even 4380 strong support and made a low of 4329 and then closing the day at 4352, down 95 points from the previous close.Huge selling was seen in Banking, technology, real estate, metal, telecom and oil stocks.Market mover Reliance Indutries took the initiative in dragging the market down today.The market breadth was negative with advances at 343 against declines of 903 on the NSE. Nifty gainers included BPCL, ONGC and ITC while losers included Reliance Indutries, Ranbaxy, HDFC and DLF.This month stock market wil be very volatile with too much action and next week will be very interesting now.Europe was also trading in red today.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4355 with stop loss 4335 and it made just 4373

Buy Nifty Futures around 4360 with stop loss 4350 and told to cover the position at 4373

Buy Bank of India around 288 with stop loss 286 for target 294 and it made just 292

Buy SBI at 1500 with stop loss 1485 for target 1535 and it made 1537

Buy J.P Associates around 168 with stop loss 165 for target 174 and it made 171.8

Short India Info around 132 with stop loss 133 for target 127 and then gave cover order around 129

Buy Sasken Commmunications at 142 with stop loss 140 for target 146 and it made 146.6

Market Outlook 05/09/08

Market in selling mode

It was selling right from the word go yesterday as nifty directly made 4319 low.Inflation for the week ended August 23 announced at 12.34% down from 12.4% is just a little positive news for indian market-but The global cues are negative and if nifty breaks 4380 strong support, then market is gone.So, it's play between 4380-4485 now and any break will be too much.Yesterday DOW crashed more than 300 points to close at 11,188.23-down 344.65 from previous close just reminding of its previous drop of 358 points on june 26th.Light, sweet crude for October delivery fell $1.46 to settle at $107.89 a barrel on the New York Mercantile Exchange.For today, nifty will face strong resistance at 4485 and failure to cross will invite selling and downside supports are at 4420 and 4380.On upper side, if nifty gets past 4485 then it may go till 4520 resistance again.So, get ready for weekend action now.

Stock watch for the day:

Today's calls only for clients

Intraday Call performance 04/09/08

Expected profit booking in the market

After huge buying day before yesterday, market went for profit booking straight away today taking nifty to a low of 4419 and closed at 4447, down 56 points from the previous close. Europe was trading weak and asian market was trading mixed.Today it was Realty, FMCG, oil, metal, capital goods, power and select financial stocks which was in sell mode.Major losers today were ONGC, Unitec ,Sterlite Industries, HDFC Bank, Reliance Industries and ABB. However, gainers are Maruti, Grasim, BPCL, Hindalco, GAIL etc.The market breadth was negative with advances at 572 against declines of 684 on the NSE.On lower side 4380 will act as strong support for nifty in coming day's.

Following calls were given in yahoo messenger for clients:

It was a very good day of profits for clients

Buy Nifty Futures around 4442 with stop loss 4434 and it made just 4452 and then hit the small stop loss

Short Nifty Futures around 4440 with stop loss 4455 and it just made 4431 and then hit the stop loss

Buy Nifty Futures around 4462 with stop loss 4445 for target 4490 and it made 4494

Buy JP Associates around 169 with stop loss 167 for target 174-178 and it made 178

Buy Kotak Bank around 642 with stop loss 636 for target 660 and it made 661

Short Adlabs around 508 with stop loss 514 and it hit the stop loss

Buy Reliance Capital around 1380 with stop loss 1372 for target 1405 and it made 1404

Short Bank of India around 285 with stop loss 288.5 for target 280 and gave exit call at 282

Buy Chambal Fertiliser around 73.7 with stop loss 73 for target 77-79 and it made just 75.25

Buy SBI around 1514 with stop loss 1508 for target 1545 and it made 1547

Buy Reliance Infra above 1024 for target 1040 and it made 1042

Market Outlook 04/09/08

Market to witness higher level selling today

It was huge buying in infrastructure, oil and technology stocks which lifted index to more than 160 points day before yesterday and day ending was near to big resistance.
Yesterday's U.S revelations on the nuclear deal is too bad and it seamed U.S has kept india in dark and in Embarrassing situation on nuclear deal now.

The important points of this revelations are:

* The US has given no binding fuel-supply assurance to India

* No US consent to India's stockpiling of lifetime fuel reserves for safeguarded power reactors

* US civil nuclear cooperation is explicitly conditioned to India not testing ever again

* The US has retained the right to suspend or terminate supplies at its own discretion

* The letter makes clear that the 123 Agreement has granted India no right to take corrective measures in case of any fuel-supply disruption

* The Bush administration's letter states that the 123 Agreement fully conforms to the Hyde Act provisions

* The letter assures Congress that the 'US government will not assist India in the design, construction or operation of sensitive nuclear technologies

Impact of this is bad for sectors like BHEL, NTPC , Reliance Infra, Rolta Cairns etc.Though the final impact depends on NSG meet outcome shortly.
On global front, The Dow Jones industrial average rose 15.96, or 0.14 percent, to 11,532.88, after rising by as many as 37 points and falling by as many as 100.Light, sweet crude futures ended the day down 36 cents at $109.35 a barrel on the New York Mercantile Exchange.For today, nifty will face strong resistance at 4545 first and then if gets past this resistance will face another resistance at 4585.Heavy selling is expected in either iof these two resistances.Downside supports are at 4440 and if breaks that, super strong support at 4380.If there is gap down opening, buying will come from lower levels

Stock watch for the day:

Today's calls only for clients

Intraday call performance 02/09/08

Oil crash and market zoom

As expected, market opened strong and continued its momentum as crude oil crashed below $105 and nifty closed at 4504, up 155 points from the previous close ahead of the trading holiday tomorrow on account of Ganesh Chaturthi.Large buying interest was seen in infrastructure, oil and technology stocks.The Asian markets closed mixed while Europe was trading firm.Major contributors for today's upmove were ONGC, Reliance Industries, SBI, DLF, ICICI Bank, Unitech etc while losers included Cairn India, Ranbaxy and Tata Motors.The market breadth was positive with advances at 904 against declines of 351 on the NSE.Crude dropping to such an extent in single session was unimaginable and lots of huge short covering was seen in many stocks.Now, if crude drops below $100, nifty might move another 100-200 points easily in coming day's and if crude starts claiming then will be bad for the market again.Crude is playing an important role in market these day's.

Stock watch for the day:

Punjab LLoyd: This was given a buy call with stop loss 303 for target 318-320 and it made 315 high

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4430 with stop loss 4442 and it made 4316 and then hit the stop loss

Short Siemens around 548 with stop loss 551 for target 540 and it made just 546 and then hit the small stop loss

Short JSW Steel around 758 with stop loss 763.5 and it made just 754 and told to stay away from shorts around 756

Buy Chambal Fertiser around 74 with stop loss 73.4 for target 77 and 78.2 and it made 77.1

Short Sail at 155.2 with stop loss 156.2 and it made 154.5 and then hit the small stop loss

Short Reliance Infra at 1023 with stop loss 1025 and it made just 1019 and hit the small stop loss

Market Outlook 02/09/08

Indication of strong opening today

As expected nifty opened weak inline with cues taken from world markets and then bounced back in later stages and on global cues,Hurricane Gustav's effect was not alarming as expected and also precautionary measures had been taken well in advance this time around and due to this effect of weekening of hurricane- Light, sweet crude for October delivery fell $4.34 to $111.12 in late afternoon electronic trading on the New York Mercantile Exchange.The Dow Jones industrial average was up 171.63 to close at 11,543.55. For today, Nifty will face hurdle around 4385 and failure to cross may invite selling from higher levels again and the supports on downside are at 4320 and 4280.Tomorrow is a trading holiday and so trade with caution.

Stock watch for the day:

Punjab LLoyd (310)-Buy this stock with stop loss 303 for target 318-323