Intraday call performance 29/07/08

Market crashing and halting near support..!


Market opened weak as expected and was trdaing with low volume in narrow range and once RBI came out with news of hiking repo rates by 50 bps and cash reserve ratio or CRR by 25 bps, markets crashed and never really recovered.It tested its support at 4160 and closed with a loss of 142.25 points at 4,189.85.News of more bombs found in surat also added to the already existing negative sentiments of the market.Rate sensitives like banking, realty and auto, and infrastructure sectors like capital goods and power took huge beating on the bourses. Sell off in global markets on the back of renewed credit concerns in US financial space was another reason for free fall in markets.Nifty gainers included Nalco, Sterlite Industries and Cairn while losers included HDFC Bank, ICICI Bank and L&T.On the global front, Asian markets ended on a weaker note on the back of negative cues from US markets, which was led by financial stocks.

Stock watch for the day:

Reliance Capital : This was given a short call at with stop loss 1342 for target 1275 and it merely crashed and hit 1208....Huge Profit

Following calls were given in yahoo messenger for clients:

Today clients had small loss in later part of calls

Buy Nifty Futures around 4250 with stop loss 4239 and when it made 4262 and told to exit at 4252

Buy Nifty Futures around 4165 with stop loss 4148 and it made 4206

Buy Reliance around 2130 with stop loss 2110 for target 2180 and it made 2160

Buy India Info around 657 with stop loss 654 for target 675 and it made 677

Buy Bombay Dyeing around 645 with stop loss 639 and it hit the stop loss

Buy Adlabs around 520 with stop loss 517.5 and it hit the small stop loss

Buy Renuka Sugars around 124 with stop loss 123 for taregt 128 and it made 125.5 and then hit the small stop loss

Buy Axis Bank around 627 with stop loss 623 and it hit the small stop loss