Market Outlook 27/05/08

Market is slowly breaking down and yesterday nifty as told did take support at 4860 and moved above 4900 also, but last hour selling bought it down and nifty had to close around that support and for today, break of 4860 will take to 4840 and then 4790 is the strong support on downside.Above 4860, nifty will again try for 4900 first and then 4920 where heavy selling might emerge again.Due to expiry, be carefull in short positions as market may rebounce any time.Till expiry, market movements will be on operators hand now.Interestingly, trading volumes are also low compared to previous trading session and looks like they are definitely setting up things for big expiry

Stock watch for the day:

Tisco (874): Watch this stock at higher levels and if not able to cross 885, short it for target 860-845.

Intraday call performance 26/05/08

As told here, nifty took exact support around 4860 and then slowly moved up above 4900 and even then market doesn't look very comfortable around these levels as nifty still closed well below 4900.

Following calls were given in yahoo messenger for clients:

Superb profits for all my clients today

Short Nifty Futures around 4915 stop loss 4940 made 4874 and gave cover order

Buy Tata Elexi around 193 with stop loss 190 and it made 208

Short Bank of India around 320 with stop loss 325 and it made jusr 317 and then hit the stop loss

Short LITL around 500 with stop 506 and it made 497 and then hit stop loss

Short Cairns around 312 with stop 316 and it made 300

Short Bombay Dyeing around 973 with stop 976 and it made 922

Short Axis Bank around 782 stop 786 and it made 760

Market Outlook 26/05/08

After breaking 5000, nifty directly made a low of 4940 and now near to big support at 4900 and this support will hold some meaning only if there is no gap down opening and if there is gap down opening below 4900, then 4860 will be very big support and there maybe heavy buying also later on if this support is not broken down and if bears hold on to low levels till the end of the day it's bad for the market.There seems to be some manipulation going on for expiry this week.For intraday, below 4900 support is only at 4860, which has be watched out and above 4900, nifty will test 4970 again and if breaks that level then we might see 5025 again which will act as big resistance again.So, watch out for a volatile and interesting day today.

Stock watch for the day:

Todays call only for clients

Intraday Call performance 23/05/08

Though nifty was trading well above 5000 in the morining session, things suddenly changed after inflation results came in and once it broke 5000, it was all round selling and surprisingly for everyone it even broke 4970 strong support today itself and made a low of 4940.Though selling was expected today at higher end, no one imagined it to be this severe.

Stock watch for the day:

RCom: This was given a buy call for target 595 and it reached exactly 595 and crashed later on.

Following calls were given in yahoo messenger for clients:

A very good day of great profits for my clients today

Buy Nifty Futures around 5025 with stop 5010 and it made just 5035 and then hit the small stop loss

Short Bank of India around 332 stop 335 and when it made 325, told to cover the position

Short Cairns around 320 with stop 326 and it made 308

Buy SBI at 1606 with stop 1600 and it made 1620

Short SBI below 1600 for taregt 1575 and it made 1564

Buy Bombay Dyeing around 970 with stop loss 962 and it made 1008

Buy Reliance Capital at 1405 stop 1390 and it made 1425

Short RCom around 593 with stop 600 and it made 569

Buy Reliance Capital around 1384 with stop 1374 and it just made 1395 and then small stop hit

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