Intraday Call performance 09/04/08

Nifty was trading in a range for the whole day without much movement on both sides and also volume was low.Anyhow, nifty closing was better as it closed well above 4740 - which is good for the market.

Stock watch for the day:

TCS:This was given a short call with stop loss 908 for target 870 and the stock made a high of just 892 and low of 869.

Following calls were given in yahoo messenger for clients:

Today was a big trading day for clients as they all earned huge profits

Short Nifty Futures around 4730 with stop 4742 and it made 4688

Buy Nifty Futures around 4675 with stop 4655 and it zoomed to 4730 and told to cover position

Short Orchid Chemicals at 243 with stop loss 248 and the stock made 218, told to cover the position with huge profit

Short L&T at 2630 with stop 2640 and the stock made 2614 and then hit the small stop loss

Renuka has resistance at 1048 and failure to cross will take it to 1020 and stock made 1012 from 1040

Buy Orchid Chemicals around 212 with stop loss 210.5 and when the stock amde 236, told to cover position with huge profit

Short TCS at 890 with stop 901 for target 870 and the stock made 869 with very good profit

Short Renuka Sugars at 1043 with stop 1047 and the stock made 1029 and told to finish off trading in the last hour as it was dangerous

Market Outlook 09/04/08

Although nifty closed around 4700, 4740 still a major hurdle and if fails to cross 4740 then nifty will go down to test 4670 first and then 4630 levels today.If nifty moves above 4740 also upside seems to be limited around 4800.Positioinal trades are becoming dangerous day by day and only intraday seems to be perfect in this market condition.In whatever dips, 4440 is the strongest support on downside and one can expect 800-1000 points rally from any downside near to that.

Stock watch for the day:

TCS (887): Short this with stop loss 908 for lower targets 870-860