Market Outlook 26/06/08

Global cues positive but expiry will show volatility

Market as expected opened weak yesterday by making low just below 4100 and picked up from there to climb above 4200 to close around 4250 and now Federal Reserve left interest rates unchanged and The Dow Jones industrial average closed up 4.40, or 0.04 percent, to 11,811.83, after rising more than 100 points shortly after the Fed announcement.Crude oil fell $2.45 to $134.55 a barrel on the New York Mercantile Exchange. Gold prices also slid, while the dollar weakened against most other major currencies.Wit these positive global cues and also nuclear deal being potponed indian market may continue moving upwards and nifty above 4260 will hit 4310 first and if breaks that, then final big resistamnce will be in the range of 4350-4370 where heavy selling might come and today also being expiry day, one has to be cautious at higher levels.On downside, nifty has strong support at 4220 and if break of that may take nifty towards 4190 and then 4155 support.

Stock watch for the day:

NTPC (157): Short this stock at higher levels with stop loss 165 for trget 153-148

Intraday call performance 25/06/08

Huge buying at lower levels

Market started weak and as expected and told here, buying came in and gained power later on crossing even 4220 and made high around my resistance level given at 4260.Market was very volatile today as expected to be.Today evening's nuclear deal decision also will hold more importance now along with expiry volatility of tomorrow.Heavy manipulation in Reliance stocks also was clearly visible today and as told to my clients early morning that nifty target 4300+ in this expiry is almost on the right path now.

Following calls were given in yahoo messenger for clients:

Good day of decent profits for all my clients

Short Nifty Futures around 4185 with stop 4195 and it made 4157

Short Nifty Futures now at 4210 with small stop 4222 and stop loss hit

Short Punjab Lloyd around 232 with stop 235.2 and it made just 228 and hit the stop loss

Short Renuka Sugars around 106 with stop 107.2 for target 102 and it made 103.3 and then hit the small stop loss

Short Reliance Capital around 980 with stop 991 for 955 and it made 958

Short RCom at 480 with stop 486 for target 468 and it made just 473

Short ICICI Bank around 705 with stop 712 for target 685 and it made 688

Short ONGC around 874 with stop 880 for target 855 and it made 856

Market Outlook 25/06/08

Market to witness volatile day of trading today

Yesterday market picked up exactly from where it left and in the later part lost heavily breaking important support again at 4220 and made a low of 4156 near to support at 4150 and then closed around 4200. For today, there might be panic downside opening also and if nifty opens around 4100-4150, don't short blidly as first 30 minutes of trading is crucial and today all news based moves may be seen also.Crude oil prices rose 26 cents to settle at $137.00 a barrel on the New York Mercantile Exchange yesterday. RBI hikes REPO RATE by 50 BPS and CRR by 50 basis points and more important nuclear deal issue may bring in severe volatility in the market today.So, one should be very carefull in booking profits whenever it comes.If nifty breaks above 4220 it will move towards 4260 where heavy selling is expected again and below 4150, sentiments will turn out very weak and nifty may break to 4100 and next 4045 support area.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 24/06/08

Lower support broken again..!

Uncertainity in political situation, high inflation, crude oil surge, expiry effect all contributed to today's volatile trading and ending in deep RED in this years low and near to one more support at 4150. Stocks like ONGC, NTPC, Tata Steel were all pulling index down today.Tomorrow is big day for indian market and next 2 day's volatility might be huge and one should be very carefull as market can swing both directions and also market is also oversold and needs a strong pullback from low's.But, tomorrow if the government falls, impact of fall might be huge in the market.

Stock watch for the day:

Renuka :This was given a short call with stop loss 108.2 for target 100 and it made a high of 107 and low of 101

Following calls were given in yahoo messenger for clients:

Clients enjoyed the huge profits they got in my calls today....

Short Nifty Futures around 4325 with stop loss 4345 and nifty fell from 4310 to make a low of 4130

Short SBI around 1235 with stop 1252 and it made 1198 ....good Profit of 37 points.....

Short Relaince Capital around 960 with stop 970 and it made 920 ....huge Profit of 40 points.....

Short LITL near 355 with stop 358.5 and it made 328 ....huge Profit of 27points.....

Short Punab Lloyd around 232 stop 235 and it made 221.5 ....huge Profit of 12 points.....

Short RCom around 490 with stop 494 and it made 466 ....huge Profit of 24 points.....

Market Outlook 24/06/08

Yesterday's bottom holds the key for today....

Market bounced from 4225 yesterday and zoomed around 100 points and in the closing hours started sliding again to close around 4250 and for today, yesterday's low holds the key again and maybe 5-10 points below yesterday's low is also fine and below that nifty will try for 4150 support and if nifty moves above 4275, it will again move towards 4340 resistance where selling is expected today also and this volatility is expected to continue for the whole of this week.Disappointment that Saudi Arabia is not boosting production by more than 200,000 barrels a day sent oil prices higher, fanning concerns about inflation. Light, sweet crude rose $1.38 to settle at $136.74 per barrel on the New York Mercantile Exchange.Dow closed flat yesterday and Tomorrow's federal meeting and also indian political scenario on government survival will bring in more volatility to the market.So, intraday players are adviced to book profits whenever it comes.

Stock watch for the day:

Renuka Sugars (103): Short this at higher levels with stop loss 108.2 for lower target 100-96.Above 108, dont be on selling side as it is a very volatile stock.

Intraday call performance 23/06/08

Volatile day of market

Market opened weak as expected but was above 4300 surprisingly for about 45 minutes and then once started sliding below 4300, it was allround selling which took nifty towards 4200 as it made a low of 4225 and then buying came very heavily to lift nifty up with more than 100 points.Though Europian markets opened flat, it recovered a bit later on and at the closing bell nifty again started sliding below 4300 and closed around 4250.This volatility will continue for whole of this week because of so many factors around and main thing is of nuclear deal issue and government survival which will be known on wednesday and thursday is the expiry day. Oil, Pharma and Banking stocks contributed much into this downfall.

Stock watch for the day:

Polaris: This was given a sell call with stop loss 93 for target 86 and it made 86 with high at 91

Following calls were given in yahoo messenger for clients:

Good day of profits for clients

Buy Nifty Futures around 4220 with stop 4200 and it made 4275 and gave cover order

Short Nifty Futures around 4325 with stop 4340 and it made 4260

Buy Axis Bank around 676 with stop 670 and it hit exact support and then zoomed to 710

Short SBI around 1235 with stop 1252 and it made first target given at 1190

Short Axis Bank around 688 with stop 695 and when it made 680, gave cover order

Short Tisco at around 762 with stop 766 and it made 742

Short Axis Bank around 710 stop 713 and it made 691

Market Outlook 23/06/08

Low opening....Get ready for bottom fishing..!

All bad news are flowing in the market and the new addition is of the governemt falling news as left has already gone on record saying that they will withdraw its support to U.P.A government if the government decides to sign the nuclear deal .overthat, Mayawati has already withdrawn her support to the U.P.A government and there will be last minute adjutments now to save the government at this crucial pont. Dow has also closed deep down -220 on friday and crude oil closed near $135 a barrel on Friday.This expiry week will see more volatility because of all these news.Nifty broke all the supports on friday and all set to go down more now, as it is expected to open gap down-may be around 4200-4150 levels and tomorrow's bottom is very important and bottom fishing may also come tomorrow and if government doesn't fall, nifty might start picking up again towards 4700-4800 taking this bottom as base.For tomorrow, nifty below 5300 will target 5210 and then 4155 is one support on downside to watch out for.

Stock watch for the day:

Polaris (90): Short this stock with stop loss 93 for lower targets 86-84