Black monday for indian market..!

Where market is heading now..!

Already markets are crushed even though it is oversold as there seems to be more pressures of inflation and Government survival problems as it was evident in friday's crash and now nifty has already broken all supports and is near to 4300 and if at this stage government falls, where will nifty go....! Bahujan Samaj Party chief Mayawati has withdrawn her party's support to the Congress-led United Progressive Alliance government at the Centre.The BSP has 17 members in the Lok Sabha, which has an effective strength of 543. The UPA currently has the support of 220 members. The Left parties, which have 59 lawmakers as a block, extend outside support to the government. Dow fell more than 200 points yesterday and for india it will be a black monday and maybe with huge gap down....!
According to me, even if government falls here, timing also plays an important role and if the bad news comes of government fall when nifty is around 4200, impact might be too deep and nifty might see 3600-3500 straight and if th government survive for some more time and falls when nifty is at around 4800, then nifty might dip to 4000-3900 levels.
On otherway round, if government doesn't fall 4100-4000 level will be the bottom for this correction
and nice time to pick some good stocks also....
This week will be full of activity in political circles and in stock market, it is expiry effect....so, get ready for the action packed week......

Intraday call performance 20/06/08

Market in deep red

Today Nifty never raeched 4540 and staying below it in the morning session showing weekness and after the inflation figures came out showing the numbers in double digit-which no one imagined to be that high, market crashed breaking all the supports inbetween and made a low of 4333 and any move below this level might take nifty towards 4200 first.Rumours of left withdrawing support and P.M resigning news was too bad for the market and this will have a deep impact on the market if government falls.Coming days will witness lots of poltical activities and moreover expiry is nearing and lots of volatility also can be witnessed in the market.

Stock watch for the day:

Cairns: This was given a short call with stop loss 286 for target 276 and the stock crashed to 263

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4445 with stop 4425 and it made 4468 and told to cover te position

Buy Tisco at 809 with stop 800 and it made just 817 and then came down crashing to hit the stop loss

Buy Cairns around 275 with stop 272.8 and it made 278 and then hit the stop loss

Short Bombay Dyeing around 696 with stop 701 for target 684 and it made 693 and hit the small stop loss

Buy HDIL around 538 with stop 534 and it made 544 and told to cover position

Market Outlook 20/06/08

Market struggling to find the trend ....

Market is at the edge of the support and still there maynot be much downside today also.Crude oil futures fell $4.75 to settle at $131.93 per barrel on the New York Mercantile Exchange after China disclosed plans to raise prices for gasoline and diesel fuel by 16 percent and 18 percent, respectively.While this is some positive news for the market, left has come openly saying that they will withdraw support to the central government after government decided to go ahead with nuclear deal with U.S and this news is negative for the market.Hence market is struggling to find the trend with positives and negatives.Today, even if market takes support around 4480-4490 and moves up, upper level will exert pressure again.Nifty will face first strong resistance around 4540 and above that 4585 will be very tough resistance for today.Below 4480, nifty may fall directly to 4440 support area.Banking stocks will be in the limelight today also.Inflation figures are expected today and there are chances of market trading flat after initial moves till the inflation figures come.
Prime Minister has commented today that he will resign if nuclear deal fails and this seems to be getting hotter day by day now and if left withdraws its support and government falls, there might be a huge crack in the market....watch out...government should stay for market recovery....

Stock watch for the day:

Cairns (284): If cairns remain below 286, short it for target 276 and if moves above 286 it is not a short.

Intraday call performance 19/06/08

Market in negative range..!

It was selling at opening bell for nifty today and as the time passed on, it even tested its strong support for the day at 4490, but could not break it convincigly and closed around 4500 in negative range.Europian markets also started trading weak today and along with this left front threat of withdrawing from the United Progressive Alliance on ongoing nuclear deal program also effected market sentiments today.Tomorrow if market breaks 4490, nifty will fall directly to 4440 suport area which again holds an important area now.Today also banking sectors like S.B.I, ICICI , HDFC, AXIS were pulling down the market to large extent.

Stock watch for the day:

IFCI: This was given a sell call with stop loss 57 for target 53 and the high was 56 and low recorded was 53.65

Following calls were given in yahoo messenger for clients:

Clients enjoyed very good profit day today also

Buy Nifty Futures around 4500 with stop 4480 and when it made 4522, told to cover position

Short IFCI around 55.5 with stop 56.2 and the stock slided to 54.2

Short Sasken Communications around 164 with stop loss 165.5 and it made 153 as target was given at 152.5

Short ITC around 204 with stop 205 and it hit the small stop loss

Short Axis Bank around 727 with stop 732 and it made 712

Market Outlook 19/06/08

Another round of selling to come now....

Market witnessed heavy selling yesterday and closed in red and selling expected to continue today also from higher levels.The Dow fell 131.24, to 12,029.06.The Dow Jones industrial average finished down more than 130 points, after briefly dipping below the 12,000 mark for the first time since mid-March. Light, sweet crude rose $2.67 to $136.68 a barrel on the New York Mercantile Exchange after the Energy Department said the nation's crude oil stockpiles fell less than expected last week but that gasoline supplies declined.The dollar was mixed against other major currencies, while gold prices rose.For today, nifty will face resistance on upper side at 4635 and if nifty remains below 4635 it will first make an attempt to break 4540 and if succeeds then strong support on downside is at 4490.

Stock watch for the day:

IFCI (55): Watch this stock at higher levels and if not able to cross 57, just short it for target 53-51

Intraday call performance 18/06/08

Markets closing in red..!

As told here, market opened gap up and witnessed heavy selling at higher levels at 4680 and came down heavily to test strong support at 4560 making low of 4570 and closing was well below strong resistance at 4635 and now it seems nifty might test 4540 again and then 4440 if 4635 isnot taken off tomorrow.Banking sectors like SBI, HDFC, AXIS, ICICI and realty stocks which were gainers yesterday were down today to close the market in negative range.There was also selling in the European markets

Following calls were given in yahoo messenger for clients:

Clients enjoyed huge profits in all calls given today

Buy Nifty Futures around 4615 with stop 4590 and when it zoomed to 4660, told to cover position

Buy Nifty Futures around 4560 with stop 4640 and it made 4610

Short Tisco around 862 with stop 865.5 and it made 836 and position covered with super profit

Short SBI around 1380 with stop 1400 and it made 1345..made good profit

Short DLF around 518 with stop 522 and it made 490..made super duper profit

Short Sail around 166 with stop 167.4 and it hit exact second target given at 161.5..made good profit

Market outlook 18/06/08

Higher opening may invite selling...!

Market witnessed a strong rally yesterday with banking and reality stocks leading the rally and nifty made a high of 4664 and today there maybe a gap up opening also and one is advised to be cautious in gap up opening as selling will be witnessed at higher levels.Moving on the higher side, nifty will face very strong resistance at 4740 and on downside, support exists at 4635 and if nifty breaks this support it may move towards 4585 support and below that, 4560 will be very strong support.The Dow fell 108.78 to close at 12,160.30.The worst-performing stocks among the 30 Dow companies were financial companies: American International Group Inc., American Express Co. and Bank of America Corp.Though Light crude for July delivery fell 60 cents to settle at $134.01 a barrel on the New York Mercantile Exchange.The dollar fell against most other major currencies, while gold prices rose.The price of oil has doubled in the past year and inflations figures are also at record high's and still so much of negative factors to effect the market.It will be interesting to see the market movements from here on as it appears nifty has approached a very strong resistance zone now.

Stock watch for the day:

Today's calls only for the clients