Intraday call performance 13/05/08

Though nifty opened high, it couldn't cross 5100 strong resistance and came down and once it broke 4970 strong support it was allround selling which took nifty to low of 4943.As told here, yesterday's last hour buying was just short covering, which was clear today i believe.

Stock watch for the day:

Arvind Mills: This was given a buy call with stop loss 50 for target 53 and the stock made a high of 53.5 and then came down to make a low of 49.6

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5040 with stop 5020 and it made the exact target 5080

Buy Nifty Futures around 5020 with stop 5000 for target 5060 only if 5040 strong support is taken off and it made 5039 twice and then came down

Short Nifty when it goes to 5075 with stop 5100 and call not initialised and nifty crashed heavily

Buy ACC around 708 for target 720 and it made just 715

Buy Cairns around 282 with stop 279.5 and it made just 285 and then stop loss hit

Buy Suzlon around 280 for target 290 and it made 287.5

Short RCom at 560 stop 566 and gave cover order when it made 550

Market Outlook 13/05/08

So, nifty bounced back from lower opening as told here yesterday and now first crucial resistance would be 5050 and then next resistance is at 5100 and the most important and crucial resistance will be at 5190 and if nifty doesn't get past this, 4700-4800 target is sure and this may be just short covering in that case.Yesterday there was a lower opening and today there might be gap up opening and in that case some selling might come from higher levels.On downside, 4970 will be strong support for today.

Stock watch for the day:

Arvind Mills (51.3): Buy this with stop loss 50 for target 53-55