Market Outlook 12/05/08

Nifty hit exact support on friday and bounced back a bit and this support is still a strong support and above this level nifty is still bullish only and interesting to see whether it gets broken today or not.Opening is very important and if there is low opening, market might pick up from there and above 4970 nifty will find it difficult to break 5050 resistance for sure and if breaks 5050, heavy buying might come.Below 4970 if nifty trades, it will turn out weak only.watch our 3 things today..opening..first 30 minutes and then closing.
Stock watch for the day:

Todays call only for clients

Intraday call performance 09/05/08

Market was in buy mode as expected in the morning but couldn't get past the stiff ressitance given at 5110 and came down and the moment it broke 5050, as told it directly came down to test 4970 strongest support but didnt break it and closed just around 5000 and monday's trading might be the deciding factor now.

Stock watch for the day:

IFCI :This was given a buy call with stop loss 59.6 for target 63 and the stock reached the target given 63 first and then came down to close at 59.1

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5075 with stop 5055 for first target 5110 and nifty could make just 5092 and then hit the stop loss.

Buy Nucleus Software around 280 with stop 276 and it made 283 and then hit the small stop loss

Short LITL around 515 with stop 521 and when it crashed to 465, gave cover order with huge profit

Buy Everon Systems around 856 with stop 850 and it zoomed to 875....very good profit

Buy Bombay Dyeing at 982 with stop 978 and it made 989 and then hit the small stop loss

Buy Welspun Gujarath around 405 with stop 402 and it made 409 and then hit the small stop loss

Market Outlook 09/05/08

High domestic inflation and rising crude prices remain a concern as markets are range bound and choppy all these day's showing uncertain moves.After market falling for 3 days, today it may raise taking 5050 as support and upper side 5110 will be first resistance and then 5150.Higher level selling might come today also, but 5050 might be protected for today and in any case if 5050 gets broken its bad for the market and below 5050, the only strong support is at 4970.These day's markets are not moving much and manipulators are setting up another game here and probably on higher side.

Stock watch for the day:

IFCI (60.85): Pick this stock in small dips with stop loss 59.6 for target 62-63

Intraday call performance 08/05/08

Nifty finally broke 5100, but couldn't break 5050 support with boring moves most part of the day and closed just around 5100 again.Tomorrow being last day of the week, it's interesting to see further market movements now.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5085 with stop 5070 and it made 5111

Buy J.P.Associates around 266 stop 263.5 and it could just make 270.6

Buy Patni around 278 with stop 276 and it made just 279.5 and then the hit small stop loss

Buy Bajaj Hindustan around 229 with stop 224 and it made 237

Short Orchid around 242 with stop 245.5 and it made 240.3

Buy Cairns around 278 with stop 275.5 and it made just 283.5

Market Outlook 08/05/08

Nifty is still saving 5100 and today is an important day of trading as far as the further trend to be decided.Today's inflation figures also might effect the market to some extent.Nifty is expected to test 5100 support again today and if breaks this support level then 5050 support testing is on cards.Above 5100 nifty is moving towards first resistance at 5165 and if crosses that 5185 is again a very tough resistance to cross today.

Stock watch for the day:

Today's call only for clients

Intraday call performance 07/05/08

Market was more on the lower side today and even after breaking yesterday's low, didn't go down much and closed just below yesterday's close.As said, it looks more of a consolidation for upmove again.

Stock watch for the day:

J.P Associates: This was given a short call with stop loss 285 for target 266 and the stock made a high of 277 and low of 264

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 5130 with stop 5110 and when it made 5160, gave cover order

Buy Nifty Futures around 5120 with stop 5110 and gave cover order at same price later on

Short Nifty Futures at 5120 with stop 5130 and it just made 5115 and the stop loss hit

Buy Reliance Power around 403 with stop 399.8 and it made 414

Short Bajaj Hindustan around 233 with stop 236.5 for target 225 and it made 226

Buy IRB Infra at 210 with stop 208 and it made 212 and when it came down later, gave cover order at 210

Short India Info at 923 with stop 928 and small stop loss hit

Market Outlook 07/05/08

Market witnessed heavy selling yesterday and it looked more of a consolidation for another upmove.For today if nifty moves above 5190 it will try for 5230 first and then 5260 tough resistance.If nifty breaks 5110, it will test 5060-5050 support range.Overall next 2 days are very important for the market trend.

Stock watch for the day:

J.P Associates (272): Short this at higher levels with stop loss 285 for target 266-262