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

Intraday Call performance 12/05/08

Nifty broke 4970 and made a low of 4913 and closed above 5000 confusing traders.Now that support is broken, this upmove just looks like a short covering.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4940 with stop 4920 and when it made 4995, told to cover the position.

Short Nifty Futures around 4990 with stop 5015 and it made 4956

Buy RCom around 532 with stop 524 and it made 552

Short Suzlon around 276 with stop 276.5 and it made the exact first target at 266

Short Tisco around 830 with stop 834.5 for first target 820 and it made exact 820

Buy R-Power around 401 stop 397 and it made 413

Short ITC around 220.5 with stop 222.5 and the stop loss hit

Short LITL around 453 with stop 456 for first target 445 and it made just 447

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