Market Outlook 23/05/08

As expected and told nifty tested 5000 and bounced back and now if nifty stays above 5000, it will first test 5070 and if crosses then 5120 resistance, where some selling might emerge again.so, for today 5070 and 5120 are crucial ressitances and on downside below 5000, 4970 will be very strong support and very very difficult to break this today.Moreover, today being last day of the week and announcement of inflation numbers might also bring in volatility in the market.

Stock watch for the day:

RCom (586): Buy this stock in dips with stop loss 578 for target 590-595.Below 578, it is not a buy.

Intraday Call performance 22/05/08

As expected and told here, nifty crashed and tested 5000 strongly but not 4970 support and to test and break 4970 it might need one more big fall in DOW today.Let's see how the things will unfold here onwards.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 5030 with stop loss 5045 and it made 5020 and told to cover position between 5020-5030.

Short Nifty Futures around 5055 with stop loss 5075 and when it made 5020, told to cover the position

Short Nifty Futures around 5015 for 4990 target and nifty made just 5000

Short HDIL around 801 with stop 807 and it made just 798 and then hit the small stop loss

Buy Praj Industries around 213 with stop 209 and it made 222


Buy Tisco around 908 with stop 900 and it made 920

Buy Punjab LLoyd around 339 with stop 333 and it made 347

Short Cairns around 332 with stop loss 340.5 and it made 318

Short Yes Bank around 164 with stop 166 and it made 161

Market Outlook 22/05/08

Even though nifty recovered from low, movement was not satisfactory and also it just closed above 5100 and for today we can expect another round of selling and nifty might well test 5050-5000 today.Above 5100, 5140 will be very big resistance for today and if crosses final hurdle will be at 5190-which is impossible today.There maybe a gap down opening today also or else expect selling to come severely around 5130 level.Downside, very very strong support exists at 4970 level.Watch out volatile trading day today on downside.Moreover, even U.S markets closed 200 points down yesterday and will also impact indian market today and looks like DOW has enterd bearish phase again as it broke down important supports.

Stock watch for the day:

Stock watch for the day

Intraday call performance 21/05/08

Though nifty opened weak today, it recovered later to close above 5100 and now again 5190 factor might come and nifty will be very bullish only above this level of 5190 and slowly expiry things are setting up now.It will be interesting tos ee tomorrow's market and may be Dow factor also will come into play for tomorrow's market movements.

Stock watch for the day:

Punjab Lloyd: This was given a sell call for target 334 and the stock first raeched its target at 334 and then zoomed to make a high of 355 and close at 352

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 5080 with stop 5100 and it made 5056

Short Nifty Futures around 5125 with stop 5140 and it made just 5106

Short Tisco around 902 with stop 911 for 890 and it made 889

Buy Adlabs around 716 with stop 707 and it made 734

Buy Sasken Communications at 168 stop 166 and it made 170 and then gave call at 169.5

Short RCom around 595 stop 601 and it made just 590 and then hit the small stop loss

Short Punjab Lloyd around 347 with stop 350.2 and it made just 344 and then hit the stop loss

Market Outlook 21/05/08

Nifty ended the day with bearish note and selling may also well continue today also.There may be gap down opening also today, so watch out.Nifty below 5100 will remain weak and will test 5040 downside support and if breaks this support, then only strong support is at 4970.Yesterday U.S markets also closed in red and this will also effect indian market now and next week expiry also will bring in lot of volatility here for sure.Even global cues are not positive added with raising crude problems, which is definitely a big concern now.

Stock watch for the day:

Punjab Lloyd (340): Short this stock on raise with stop loss 350 for targets 334-326

Intraday call performance 20/05/08

As expecetd, nifty faceed selling at higher levels and couldn't cross 5190 hurdle and straight away came down below 5100 and closing was also weak now.Expiry things are setting up now and can be claerlys een by the market movements.

Stock watch for the day:

RCom: This was given a buy call with stop loss 588 for target 615 and it made a low of 590 and high of 610

Following calls were given in yahoo messenger for clients:

It was a good trading day for clients

Buy Nifty Futures at 5112 with small stop at 5100 and it could make only 5130

Buy Nifty Futures around 5180 with stop 5160 for target 5100 and it made 5095

Buy ICICI Bank around 929 with stop 924 and it made 932 and when it came down, told to cover at 929

Buy RCom at 592 with stop 588 and it made 608

Short Punjab Lloyd arround 353 with stop 356.5 and it made 337

Short Tisco around 907 with stop 910.5 and it made 887

Buy Bombay Dyeing around 972 stop 966 and when it amde 984, gave cover order

Market Outlook 20/05/08

After 3 day's holiday's market will open today and final test will be 5190 and above that market will be very bullish now and if nifty fails to cross 5190, there might be some profit booking today.World market clues are also positive inspite of raising oil and indian market also expected to go up, but caution is required to see how it reacts at higher levels as profit booking also might come at higher levels.For today, if nifty gets past 5190, it will move towards 5220-5240 level where selling might come and if nifty failes to break 5190, 5100 will be tested again today.

Stock watch for the day:

RCom: Buy this stock in small dips with stop loss 588 for target 615-625