Market Outlook 01/07/08

Fear of breaking 4000....!

Yesterday, it was allround panic which took nifty to make a low of 4022 and till nifty saves 4000 big support, there will be some upside and today also low opening will invite buying, but higher levels will face selling pressure again.Fear of breaking 4000 is more as buying is still not coming strongly.Probably there is still more downside left in the market and one thing is sure-that long term stock picking time is nearing....yesterday, DJIA and S&P 500 closed with minor gain and Light, sweet crude for August delivery lost 21 cents to settle at $140.00 a barrel on the New York Mercantile Exchange. In early electronic trading, the contract hit a record $143.67. For today, nifty will face first resistance at 4065 and if crosses that 4110 will be very very tough resistance and heavy selling might come there.On downside, 4000 is very strong support and below that one more support at 3975.

Stock watch for the day:

Axis Bank (605): In lower opening, buy this stock with stop loss 585 for target 620-625.

Intraday call performance 30/06/08

Downward journey continues....

Nifty opened weak today as expected and continued its downward journey and once it broke its support at 4110, it was allround selling which took nifty to make a low of 4022.Nifty is near to all time support of 4000 and if this support is broken, market will be in total darkness.If crude reduces and dow improves a bit, nifty might pick up from here.Reliance Industries, Bombay Dyeing, Acc, oil & gas stocks were all pulling down the index today.

Following calls were given in yahoo messenger for clients:

Clients enjoyed good profits today also

Short Nifty Futures at 4105 with stop 4115 and it made 4050

Buy Nifty Futures at 4010 range with stop 4394 and stop loss hit

Short Bombay Dyeing around 635 with stop 643 and it made 575....HUGE PROFIT

Short RCom around 472 with stop loss 475.5 and it made 433....HUGE PROFIT

Buy Bank of India around 228 with stop loss 225 for the target 236 and it made just 231.4 and then stop loss hit

Short LITL around 303 with stop loss 306 and it made 278....HUGE PROFIT

Buy Reliance Capital around 952 with small stop loss at 947 and it made just 957 and then stop loss hit

Market Outlook 30/06/08

Today's closing is important for the market

Market have broken all supports and even though looks bearish, it is oversold and just needs a trigger to zoom on the upper side and is on the verge of producing a bullish upside "breakout" from this trading range.Global cues are not helping the market as crude oil factor is the main cause for all these trouble all over.Crude has closed at $140.54 a barrel and crude imports will cost the United States approximately $700 million per day and DOW also plunged by 107 points on friday to close at 11,346."Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel.When crude starts crashing down, whole world market will enter into a bullish mode again.It is just a matter of time now as we are nearing or almost at the point of getting into long term bullish mode.For today, nifty above 4145 may test 4190 where selling might emerge again heavily.On downside 4110 seems to be good support for today and if breaks that nifty will directly fal to 4060 first support and then straight to 4000 big support. If market opens low, buying will come at lower levels.

Stock watch for the day:

Today's calls only for the clients

Intraday call performance 27/06/08

Total panic in the market....

Global weekness made nifty open below very important support of 4190 and once it broke 4190, it was total panic in the market though nifty recoverd a bit in the afternoon session, it came down heavily later on to make a low of 4119 and unless global situation improves, nifty is heading for 4000 now.In the charts, markets are oversold, but for the market to recover global cues and many negative factors like political situation is not supporting.Crude oil is the main culprit here trading at $140 and if the situation improves a bit here, nifty might again pick up.Inflation for the week ended June 14 has risen further at 11.42% as against 11.05% in earlier week and inflation may well reach 14% if crude oil doesn't improve from here.

Stock watch for the day:

RCom: This was given a sell call with stop loss 515 for target 475 and it made 465

Following calls were given in yahoo messenger for clients:

It was a terrific day of huge profits for all my clients as all calls hit huge targets today

Buy Nifty Futures around 4080 with stop 4058 and it zoomed to 4160

Buy Nifty Futures around 4100 with stop loss 4080 and it hit the stop loss

Short Hind Oil around 135 with stop loss 138.4 and it made 128

Buy Sail around 147 with stop loss 145 for target 152 and it made 150.6

Buy SBI around 1165 with stop loss 1150 for 1200 and it zoomed to 1190

Buy LITL around 307 with stop loss 304 and it made 317

Buy RCom around 465 with stop loss 460 and it made 483

Short Tisco at 780 with stop 786 and it made 736 and gave covering order

Buy Tisco at 722 with stop 717 and it made 735

Market Outlook 27/06/08

Market facing tougher situations....

Though expiry got over yesterday and made nifty close above 4300 , it was just a roll over effect and real trading will start from today again and now all the global cues are negative and overthat, nifty is facing a very very strong hurdle at 4350-4370 range which holds very very important for now and trading below this level nifty will not be stable for sure.All Asia, Europe and U.S markets are trading in red and its just a matter of time now for indian market also react to this.Oil futures shot past $140 after the head of OPEC President Chakib Khelil was quoted as telling a French television station that oil could rise to between $150 and $170 per barrel this summer before pulling back later in the year and Libya said it may cut oil production.The dollar was mixed against other major currencies, while the price of gold jumped.Sweet crude went as high as $140.39 and to a record settlement of $139.64 on the New York Mercantile Exchange.The Dow dropped 358.41 points, more than 3 % to close at 11,453.42 - its lowest finish since Sept. 11, 2006. For today, if nifty moves above 4330 it will test 4350 and further upside is difficult and even if gets past 4350 also 4370 hurdle is major one for today and break below 4300, nifty will have support at 4260 first and then 4220 and lastly 4190 and if breaks that-TOTAL PANIC IN THE MARKET. If market opens gap down, be cautious at lower support area as nifty might pull up again and if there is gap up opening, definite selling will come today at higher level.Watch the levels of supports and resistances today.Market doesn't seem to be settling down fast because of the global factors and also because of indian political situation.Inflation figures are expected to be high again and it may also effect in recovery.

Stock watch for the day:

RCom (496): Short this stock at higher range with stop loss 515.5 for lower target 485 and 475

Intraday Call performance 26/06/08

Amidst expiry volatility market ended positive

Market was too volatile as told here and even tested strong support of 4220 by maing a low of 4230 and then expiry effect took place to take nifty above 4300, making a high of 4325 and closing above 4300 showing bullish signs and 4370 wil be the final resistance and if crosses that nifty may fire towards 4500 staright..! Indian market was trading against europian market which was trading weak.Reliance Industries took the market up today along with I.T sectors like Infosys, wipro etc.

Stock watch for the day:

NTPC: This was given a sell call with stop loss 165 for lower target 148 and stock made a high of 159.5 and low was 150

Following calls were given in yahoo messenger for clients:

Clients enjoyed huge volatility making good profits today

Short Nifty Futures around 4300 with stop 4330 and stock made only 4285 and made a low of 4255

Buy Nifty Futures around 4240 with stop 4225 and it zoomed to 4280

Short ONGC around 872 with stop 881 and it made just 863 and then stop loss hit

Short ONGC around 891 with stop 897 and it made 864....good profit

Short Hind Oil around 133 with stop 135.5 for 128 and it made 128....good profit

Buy Reliance Capital around 985 with stop 978 and it made 1004....good profit

Buy Punjab Lloyd around 232 with stop 228 for 238 and when it made 236, told to cover the position....average profit

Short RCom around 495 with stop 500.5 and it made 493 and then hit the small stop loss

Short Punjab Lloyd at 235.3 with stop 236.2 and it made 230....good profit

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