Intraday call performance 18/06/08

Markets closing in red..!

As told here, market opened gap up and witnessed heavy selling at higher levels at 4680 and came down heavily to test strong support at 4560 making low of 4570 and closing was well below strong resistance at 4635 and now it seems nifty might test 4540 again and then 4440 if 4635 isnot taken off tomorrow.Banking sectors like SBI, HDFC, AXIS, ICICI and realty stocks which were gainers yesterday were down today to close the market in negative range.There was also selling in the European markets

Following calls were given in yahoo messenger for clients:

Clients enjoyed huge profits in all calls given today

Buy Nifty Futures around 4615 with stop 4590 and when it zoomed to 4660, told to cover position

Buy Nifty Futures around 4560 with stop 4640 and it made 4610

Short Tisco around 862 with stop 865.5 and it made 836 and position covered with super profit

Short SBI around 1380 with stop 1400 and it made 1345..made good profit

Short DLF around 518 with stop 522 and it made 490..made super duper profit

Short Sail around 166 with stop 167.4 and it hit exact second target given at 161.5..made good profit

Market outlook 18/06/08

Higher opening may invite selling...!

Market witnessed a strong rally yesterday with banking and reality stocks leading the rally and nifty made a high of 4664 and today there maybe a gap up opening also and one is advised to be cautious in gap up opening as selling will be witnessed at higher levels.Moving on the higher side, nifty will face very strong resistance at 4740 and on downside, support exists at 4635 and if nifty breaks this support it may move towards 4585 support and below that, 4560 will be very strong support.The Dow fell 108.78 to close at 12,160.30.The worst-performing stocks among the 30 Dow companies were financial companies: American International Group Inc., American Express Co. and Bank of America Corp.Though Light crude for July delivery fell 60 cents to settle at $134.01 a barrel on the New York Mercantile Exchange.The dollar fell against most other major currencies, while gold prices rose.The price of oil has doubled in the past year and inflations figures are also at record high's and still so much of negative factors to effect the market.It will be interesting to see the market movements from here on as it appears nifty has approached a very strong resistance zone now.

Stock watch for the day:

Today's calls only for the clients