Market Outlook 19/03/08

Today market sentiments are too good as also because of good results from Goldman Sachs Group and Lehman Brothers Holdings Inc. and a rate cut by the Federal Reserve.Indian market is also expected to open high and how high is interesting here.Nifty can open above 4620 and next resistance above 4620 will be 4675 and if crosses this, then strongest resistance wil come only at 4740.Below 4620 , nifty will remain weak again. So, watch out for opening today.Next 2 day's are holiday's for indian stock market and hence there might be last hour selling also.

Stock watch for the day:

Rcom (496): Buy this stock with stop loss 488 for target 515-520 today.

Intraday call performance 18/03/08

Market witnessed a bounce back today making a low of 4482 and a high of 4633 and at the end, again started sliding down and then closed at around 4500 range again.Today expected FED rate cut late night might boost market sentiments again and also tomorrow being the last day of the week will make the market volatile again.

Stock watch for the day:

J.P.Associates: This was given a buy call with stop loss 202 for target 215 and the stock made a high of 215 and then came down to make low of 189

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4540 with stop 4520 and it made 4565 and then told to cover at 4540

Short Nifty Futures around 4600 with stop loss 4620 and it could make only 4595 and then went up to hit the stop loss

Buy RCom around 493 with stop 492 and the stock made 498 and then hit the small stop loss.

Buy Reliance Energy around 1240 with stop 1229 and the stop loss hit

Short Renuka around 984 with stop 992 and the stock crashed to 956

Short FCH around 533 with stop 536 and it made a low of 521

Short Renuka again around 984 with stop 992 and it made 974

Short Tisco around 655 with stop 660 and the stock made 649 thrice and then went up to hit the stop loss

Short Renuka around 1035 with stop 1046 and stop loss hit

Buy Reliance Energy around 1265 with stop 1260 and it zoomed to 1285 and told to come out

Market Outlook 18/03/08

Now the real testing time has come for indian market and on downside the only strong support will be at 4440 and unless market opens below 4440, this support may not be broken.The whole world market is in panic now and for indian market 4440 holds the key and at any cost if it breaks 4440, it will be total panic.For today, nifty above 4500 will aim for 4560 and then 4610 ressitance and if crosses that, allround buying will come.On downside, below 4500 last strongest support is at 4440 and will be the key for market direction.

Stock watch for the day:

J.P Associates (207): Buy this stock with stop loss 202 for target 215-222

Caution: If nifty breaks 4440, be cautious in staying in buy mode.

Intraday call performance 17/03/08

World market collapsed and indian market also followed that and as soon as nifty started sliding below 4600, selling was too effective and nifty made a low of 4482 and closed around 4500.Now, the only strong support on downside is 4440 and it should not be broken for nifty to move on the upper side.

Stock watch for the day:

Aurobindo Pharma: This was given a sell call with stop loss 295 for target 276 and the stock made a high of 285 and low of 253

Following calls were given in yahoo messenger for clients:

It was a good day of profits to all my clients

Short Nifty Futurtes around 4570 with stop 4590 and it made 4476.

Short RCom around 493 with stop 498 and it made 476

Buy Reliance Energy around 1234 stop 1229 and it made 1245

Short Reliance Energy around 1225 stop loss 1232 and told to come out at 1210

Buy Renuka at 1000 with stop loss 995 and it made 1010

Buy Orchid Chemicals at 121 stop 119.5...small stop loss..and the stock made 129 and told to cover

Last call of the day Buy Renuka around 995 with stop 989 and the stock made 1020

Market Outlook 17/03/08

Although nifty has closed above the important resistance of 4740, today it will slide down fast if it breaks 4740 again.There might be a gap down opening also.DJIA and Nasdaq have also turned weak due to credit concern and indian market might also just react to that.For today, if nifty stays above 4740, it wil move towards 4800 important figure and below 4740, nifty might test 4640 straight and if breaks, that then 4600 will be strong support to watch out for.

Stock watch for the day:

AurubindoPharma (289): If not able to cross 295, it will slide to 282-276 today.

Intraday call performance 14/03/08

As expected and told here, nifty never broke 4600 and remained bullish staying above that throughout the day.Interestingly nifty even broke 4740 strong ressitance and ended at 4746 showing strength in the market now.Closing was important for monday's market.Next week trading will ne interesting now.

Stock watch for the day:

CESC:This stock was given a buy call for target 492 and this stock was too volatile today and initially made 479 and came down to break the support of 460 and then again got past 460 and made a high of 501

Following calls were given in yahoo messenger for clients:

Short Nifty Futures at 4710 stop 4725 and it made 4690 and told to come out

Buy Nifty Futures around 4680 with stop 4660 and stop loss hit

Short Hindalco around 179 with stop 180.5 and the stock made just 178 thrice and then hit the small stop loss

Buy Renuka around 1030 with stop 1018 and the stock made 1090

Short DLF around 630 with stop 634.5 for targets 610-595 and it made 627 and then hit the stop loss

Buy RCom around 501 with stop 496 and it made 517

Short Maruti around 816 with stop 821 and stop loss hit

Short RCom around 520 with stop 525 and it made 502 and told to come out

Short Jet Airways around 601 with stop 602.5 and it just amde 598 and then hit the small stop loss

Market Outlook 14/03/08

After dropping to low of 4580, nifty might move up today and on upperside 5740 is again a main hurdle to cross and today being the last day of the week, it's interesting to see the market behaviour.For today, watch out for crucial support at 4600 and above this nifty will move towards 4675 first and then if crosses will try for 4740 tough resistance.On lower side, if nifty breaks 4600, trend might become very bearish again and nifty might even crash to 4500 levels today itself.Chances of breaking 4600 is very remote today as also U.S markets have recovered yesterday.

Stock watch for the day:

CESC (470): Watch this stock and if support 460 is held, buy for target 485-492.Below 460, it is not a buy.