Intraday call performance 17/06/08

Nifty closing the day with bullish note

Market was trading in the small range below yesterdays close early morning and later on buying emerged heavily and nifty once it broke strong resistance at 4635, there was no looking back as it made straight high of 4665 and closing the day near day's high showing very strong bull strength now and the only strong resistance for nifty now will be at 5740-5755 range.Banking and reality stocks has a good day today with stocks like SBI, MARUTI, HDFC, AXIS BANK among gainers and stocks like RCom, bharti were on the weaker side.

Stock watch for the day:

Nalco: This was given a sell call with stop loss 493 for target 470-475 and it made a low of 473 and high of just 488

Following calls were given in yahoo messenger for clients:

Decent profits for all my clients today

Buy Nifty Futures around 4555 with stop loss 4530 and it made 4600

Short Nifty Futures around 4605 stop 4610 and it made 4590 and told to cover

Short Nifty Futures at 4625 stop 4630 and it made 4616 and told to come out in profti at 4615

Short Chambal Fertiliser around 91.3 with stop loss 92 and it made 90.5 and then hit the small stop loss

Buy Axis Bank around 728 with stop 722 and when it made 768, told to cover position with huge profit

Short Suzlon around 245 with stop 250.5 for first target 240 and it made 240.3

Short SBI around 1350 with stop 1363 and it went up to hit the small stop loss

Short Chambel Fertiliser around 91.7 with stop 92.2 for first taregt at 90.3 and it made 90.2

Short Bombay Dyeing at 750 with stop 756 and it made 742 and then went up to hit the small stop loss

Market Outlook 17/06/08

Buy at low..sell at high....!

It was an interesting day for the market yesterday as nifty went past 4540 resistance and hit 4618 straight with 4635 big hurdle still not tested..! though closing was well above 4540, it was well below yesterday's high also..! Yesterday crude oil was also trading wild by reaching record of $139.89 a barrel earlier and fell 25 cents to settle at $134.61 a barrel on the New York Mercantile Exchange.Earlier, they dropped as low as $132.84 also..! Dow closed the day with minor gains yesterday.For today, buying at dips and selling at high's is the best strategy and as long as 4635 is not crossed, selling will come from higher levels.Nifty above 4570 will make an attempt towards 4620 first and if moves above that 4635 will be final ressitance tow atch out for and on downside below 4570, it can go to test 4540 support again and if breaks then again 4490 will be very very strong support for today.

Stock watch for the day:

Nalco (486): Watch this stock at higher levels and if doesn't cross 493, just short it for target 475-470.Above 493 it is not a sell.

Intraday call performance 16/06/08

A very Good day of decent profits.....

Market started the day with positive global cues and nifty once crossed 4540, it was all round buying and as expected nifty couldn't cross 4635 as it made high of just 4618 and selling emerged there and nifty though came down to test 4540 again, interestingly closed in positive mode above 4560 but much below it's day's high.Now 4635 will be the point to watch on upper side tomorrow.

Stock watch for the day:

Cairn: This was given a sell call with stop loss 295 for target 275 and it made exact 276 on lower side

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4600 with stop 4615 and when it made 4560, told to come out

Short Suzlon around 250-251 with stop 252 for target 240 and it made exact 240

Buy Ranbaxy at 575 with stop loss 571 and it made 578 and then hit the small stop loss

Short SBI at 1355 with stop 1365 and it came down to 1316

Short Tisco around 862 with stop 865 and it came down to 845

Market Outlook 16/06/08

Saudi to boost oil production....

Market is again rangebound struggling around 5450 resistance.In electronic trading on the New York Mercantile Exchange late Sunday, crude oil futures were down 54 cents at $134.32 a barrel and moreover Saudi Arabia plans to increase oil production by 200,000 barrels a day next month and U.S-Europian markets are also trading in positive now.Taking these positive clues nifty might move above 4540 and if breaks 4540, nifty might move twoards 4600 first and if breaks that will face strong resistance around 4635 range where selling might emerge again.Below 4540, nifty will remain weak and will test support at 4490 and if breaks that will go towards 4460 strong support on downside.The only negative news for now is of fight between Anil and Mukesh Ambani and the effect might come to the market slowly if it doesn't get settled down fast.

Stock watch for the day:

Cairns (285): Short this stock on raise with stop loss 295 for target 280-275

RComm dares RIL to go legal

RComm dares RIL to go legal
-By Corporate Bureau
A day after Mukesh Ambani-led Reliance Industries Ltd (RIL) advised South African telecom giant MTN to back-off from negotiations with Reliance Communications (Rcomm), the latter in a sharply worded letter has replied that in case RIL pursues a legal suit, RComm will vigorously defend itself and claim legal damages.
According to RComm sources, "The tone of the letter clearly indicates that it is part of a malafide design, with no substance, to simply try and disrupt talks between Rcomm and MTN, by raising the false bogey of litigation and damages".
The official added that RIL's action in sending the copies of the letter to a large number of bankers and intermediaries, without communicating with Rcomm first, further reflects its ulterior and malafide intentions.
Meanwhile, MTN has said its tie-up talks with RComm were still on. "As far as we are concerned, we have a 45-day exclusive talks agreement with Reliance Communications and nothing has really changed from our statement on May 26," MTN spokesperson Nozipho January-Bardill told the media in Johannesberg.
On its part, RIL said it had in good faith informed ADAG and MTN Group over the agreement on Reliance Communications. "RIL has in good faith notified both Anil Dhirubhai Ambani Group and MTN group of the stipulations contained in an agreement, the validity of which has never been questioned so far by ADAG," a Reliance Industries spokesman reportedly said when asked for reaction to the RComm statement.
However, RComm sources say the company has replied to RIL's claim as "legally and factually untenable, baseless, and misconceived".
"It was surprising that without knowing the contours of a possible transaction between RComm and MTN, RIL has jumped to a baseless conclusion that the same is covered by the alleged agreement," the sources added. RComm, the flagship company of the Anil Ambani led ADAG has been in talks with MTN, since the latter's talks with the country's largest service provider, Bharti Airtel collapsed. According to the latest reports, the structure being thrashed out by ADAG was that Anil Ambani swaps two-thirds of his 66% equity in RComm with 35% shareholding in MTN. Anil Ambani has also proposed an additional payment of $4-5 billion. This would make him the single largest shareholder in the resultant entity.
On Thursday, RIL, the country's largest private sector company, issued a legally worded letter to MTN and all the banks and other financial institutions involved warning them that it had "a right of first refusal in respect of transfer of shares of Reliance Communications Limited by the Reliance Anil Dhirubhai Ambani Group."
RIL told MTN that it has notified ADAG that it would adopt legal proceedings against them (ADAG) to enforce its rights in the Bombay High Court and would also add MTN as one of the defendants.
Citing an agreement between the brothers which was signed on January 12, 2006, RIL sent the copies of letter to almost all the involved parties except RComm to whom the letter was sent a day later. The claim by RIL was seen by many a move that would only further escalate the tension between the two brothers, whose public spat three years ago had kicked up much debate on corporate ethics and the need to settle family issues amicably in the interest of shareholders.

Intraday call performance 13/06/08

Flat closing of the market....

Even though nifty was trading positive in the opening, it came down some points and started trading flat in anticipation of inflation figures and once the high inflation figures came in, market was very much reluctant to go up and thoughit broke 4500, it didn't go much downwards and closed flat well below yesterday's close

Stock watch for the day:

Tisco: This was given a sell call with stop loss 865 for lower target 840 and it made a low of 836

Following calls were given in yahoo messenger for clients:

Clients made very good profits today....

Buy NIfty Futures around 4460 with stop 4440 and when it made 4500, told my clients to cover their positions

Buy DLF around 489 with stop 485 and it hit the small stop loss

Buy Bombay Dyeing around 734 with stop 725 and it made 746

Short Suzlon at around 257 with stop 261 and it made 243

Buy Tisco around 839 with stop 835 and it made 855

Market Outlook 13/06/08

How long this Bull Strength will last now...!

Although sentiments are still looking bearish for short term and everyday we seem to have news which will effect the market and everybody must be wondering how long this bulls will show strength..! for today, nifty above 4540 will move towards 4635-a crucial ressitance to watch out for and fail to crossover, selling will emerge and if nifty trades below 4540, it will move towards 4500 first and if breaks then testing of 4465 might be on.In spite of so many bad news also nifty was able to recover from low's yesterday and maybe because of good IIP numbers and ended the day on positive note.Yesterday DOW closed the day with 50 points up and rising crude oil is a problem for the markets and crude rose 36 cents to settle at $136.74 a barrel and today inflation numbers are also coming up and this also may shwo it's effect as it is expected to be higher this time also.Moreover week end might show some selling in the last hour.Be cautious at higher levels today.

Stock watch for the day:
Tisco (856): Watch this stock at higher levels and if doesnt cross 865, short it for lower atregts 840-830.Above 865, it is not a sell