Market Outlook 14/02/08

Market is still moving in the same range between 4800-5000, not breaking on either side.Lower level buying and Higher level selling is witnessed everyday now.Time for long term still hasn't come as market is very volatile and not stable at the moment and might take some more day's to get the clear picture now.It looks like short time rally can extend upto 5100-5250 range.For today, nifty above 4930 will definitely test psychological resistance of 5000 and if crosses then might see 5045 strong resistance very heavy selling might witness again.On downside, below 5000 supports are at 4930 and then 4850.
Stock watch for the day:
Tisco (758):This stock is a buy above 764 for target 780-785.Lower level 744 is support for today.

Intraday call performance 13/02/08

Today as expected market was positive and even made a high of 4987 and higher level selling did come again as expected and nifty low was recorded at 4836, thus protecting 4800 for third consecutive day and closed at 4929.Tomorrow will be interesting to see whether nifty can cross psychological resistance at 5000 or not.

Stock watch for the day:

Developement Credit Bank (D.C.B):This was given a buy call above 98 for target 105-110 and the stock made a high of 106

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4960 WITH stop 4981 and the stock made a low of 4960 and gave a call to cover between 4855-4865

Short RNRL around 124-125 stop 129 and stock made a low of 110

Buy Bajaj Hindustan around 237-238 with stop 234 and the stock made 241.5 and then hit stop loss

Short Tisco around 742 with stop loss 750 and stop loss hit

Buy Cairn India around 201 with stop 199 and stock zoomed to 206 and told to come out there.

Short Tisco around 764 with stop 767 and when the stock amdea low of 746, told to cover the position

Market Outlook13/02/08

Nifty has two important supports at 4800 and 4740 and till these supports are held trend is up.For today, it will move up towards 5930 first and then crossover 5950, allround buying might come.But 5930-5950 range is very strong resistance and there are possiblity of higher level selling again.So, play with caution in this volatile market.Yesterday DOW has ended in green and nifty also might move up and then face selling.
Stock watch for the day:
Developement Credit Bank (D.C.B): This stock is on the recovering edge now and one can buy this stock with stop loss 98 for targets 105 and 110.Below 98, it is not a buy.

Intraday call performance 12/02/08

Though 4800 support was not broken today, market witnessed a volatile day of trading and on the upper side it made a high of 4950 and the ending was at red again closing at 4838 and market was unsettled at high shows more weekness in the market.

Stock watch for the day:

EKC: This was given a buy call above 306 for target 322 and it just made 315
Following calls were given in yahoo messenger for clients:

Short Nifty Futures at 4860 with stop 4875 and it fell to 4851 and then hit stop loss

Buy Nifty Futures around 4890 stop 4875 and it made 4920

Short Bajaj Hindustan around 256 with stop 261 and stock made 236 within 10 minutes

Short NTPC around 192-193 with stop 196 and when it made 191, told to come out and later it made 182

Buy Satyam Computers at 420 with stop 418 and stock made just 421 and then hit stop

Buy VSNL around 464 with small stop at 460 and the stock zoomed to 472 and then hit stop loss

Market Outlook 12/02/08

It was a scary fall yesterday and as was saying in all these times, yesterday did turn out to be a big deciding day and nifty straight away made the lowof 4800 which was told a possibility last week.Now for today, 4800 will be strongest supporta nd below that one more support at 4740 and if these 2 supports are held, maybe bottom is made forbig upmove or if nifty breaks 4740, there might be one more panic and nifty might slide again to 4550-4600 straight.Watch out for 4800 on downside and if held, upmove might extend to 4890 and then 4930 level and above 4930 nifty might zoom again.If 4800 is broken anytime, then nifty might test 4740 which is the strongest support for today.

Stock watch for the day:

EKC: Above 306, EKC will target 322-324 today and below 306, it is not a buy.

Intraday call performance 11/02/08

As expected, today was a big drama when reliance power made an entry into the market and surisingly went even below the issue price and market sentiments went negative immediately breaking all supports to make a low of 4804 and again closed negative showing weekness still in the market.

Stock watch for the day:

Tisco: This was given a buy call only above 740 and once it started breaking support at 740, it made a low of 716 and high was recorded at 753

Following calls were given in yahoo messenger for clients:

Buy NIIT around 116 with stop 115...small stop loss and stock made 117.4 and then broke support of 115

Short Tisco around 740 with stop 746 for first target 720 and the stock made 716

Buy Air Deccan around 176 stop 174.5 and it made just 177 and when it came down told to cover at 176

Later call was given to exit all intraday positions as market was looking dangerous

Market Outlook 11/02/08

Atlast the big day of Reliance Power entry today.Nifty might recover above 5200 and if remains below 5200, it is still bearish.Overall market expected to be volatile again today.Watch the level of 5165 today and if nifty moves above that, buying might come heavily and nifty might even test 5260 resistance.Below 5100 nifty will again test 5025 first and if breaks then will be test of 4900 strong support.So, overall volatile day will be witnessed and if opening is strong, later selling might emerge and if opening is week, later buying will emerge.Watch the levels carefully and be carefull today. All power stocks might be in action today.

Stock watch for the day:

Tisco (751): Watch 740 support for tisco and if holds will start moving towards 776.