Market Outlook 24/07/08

Market in hands of ADAG now..!


Yesterday, market jumped as if there is no tomorrow and it is now manipulation which is pulling the market up without any breaks and as told ADAG stocks are firing too much and one should also be careful of the fall that may come....!
Market looks to be in ADAG holds now and they are pulling it up and interesting to see where they put the break as it's all in their hands now.On the global scenario, Dow rose 29.88 to 11,632.38 after rising nearly 100 points early in the session and crude fell $3.98 to settle at $124.44 a barrel on the New York Mercantile Exchange.For today, nifty has resistance at 4535 on the upper side and if it breaks that it will go still higher around 4600 and below 4535, some selling might come.Downside, 4440 and 4390 are very strong supports for today.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 23/07/08

Record upsurge in the market today..!


As expected, it was huge gap up opening because of UPA winning the trust vote, declining crude oil price and positive cues from global markets and surprisingly even broke strongest of resistance at 4440 and made a high of 4492 and closed at 4476, up 236 points as market also seemed like being too tired of being in bear phase for long time and things are setting up nicely for this month expiry now.Stocks like Reliance Communications, ICICI Bank, HDFC, SBI, BHEL were major contributors for today's bull move.It was record upmove for the market with sensex gaining whopping 838 points..! Now,with positive cues from global market nifty can move towards 4700 straight.

Stock watch for the day:


RCom :This was given a buy call with stop loss 456 for target 490 and it made a high of 531


Following calls were given in yahoo messenger for clients:


Short Nifty Futures around 4415 with stop loss 4420 and it made 4405 and then hit the small stop loss


Short Bank of India around 292 with stop loss 294.5 and it made just 289 and then hit the stop loss


Buy JSW Steel around 756 with stop loss 748 for target 785 and it made 788


Short ICICI Bank around 725 with stop loss 733 and it hit the stop loss


Short Bombay Dyeing around 605 with stop loss 609 and it hit the stop loss


Short DR Reddy at 640 with stop loss 642 for target 624 and it made 624

Market Outlook 23/07/08

Market in too bullish mode with decline in crude and our govt survival


At last the much awaited No-Confidence motion got through in favor of the government as expected.Yesterday market got enough clues about this government survival and huge buying was also seen in the market.Global cues are also very positive as the Dow rose 135.16 to 11,602.50. The blue chip index rose 400 points last week, but ended Monday's session slightly lower.A barrel of light, sweet crude tumbled $3.09 to settle at $127.95 on the New York Mercantile Exchange, down nearly $20 from its record high of $147.27, reached just weeks ago.A $3 drop in oil -- which took crude's decline in recent weeks to nearly $20 a barrel -- persuaded some investors to wade back into equities.For today, taking all these positive cues, nifty will open with huge gap up for sure and nifty above 4265 will face resistance only at 4375 and then 4440 and if nifty opens around these levels and unable to cross, some selling will definitely come from these levels.So, don't go for buying blindly today.Nifty will have supports at 4265 and 4220 for today.Watch the action in this week.

Stock watch for the day:

RCom (467)-Buy this stock with stop loss 456 for target 485-490

Intraday call performance 22/07/08

Volatile market ending in green


What a day of trading today..! it was huge gap up opening in the morning itself and then as nifty made a high of 4262 and couldn't cross 4265 big resistance given here , it came down crashing to go below 4200 and then again huge buying came in to the market on some positive news of UPA set to win the No-Confidence motion.Even Europian market which was trading in red didn't have any effect in indian market and huge buying was seen in Power, FMCG, metal, capital goods, banking and oil stocks.Stocks like Sail, BHEL, ITC, Reliance Communication, Wipro, SBI and Tata Steel were all top contributors for this huge bull move today and Maruti Suzuki, JP Associates, Tata Motors etc were losers today.Market breadth was very strong and about 1992 shares have advanced while 922 shares declined. Nearly 236 shares remained unchanged.


Following calls were given in yahoo messenger for clients:


Even on volatile day like this, clients earned very good profits on my calls today..!!


Short Nifty Futures around 4200 with stop loss 4225 and stop loss hit


Short Nifty Futures around 4260 with stop loss 4275 for target 4220 and it made exact 4220


Short Nifty Futures around 4245 with stop loss 4270 for 4190 and it made 4185


Short JSW Steel around 740 with stop loss 745 for target 728 and it made 726


Short BGR Energy at 332 with stop 335.5 for target 320 and it made 327 and told to exit


Short SBI around 1385 with stop 1400 and it made 1375 and then hit the stop loss


Short Essar Oil at 181 with stop loss 182.5 for target 175 and it made 176


Short Bombay Dyeing around 565 for target 550 and it made 554

Market Outlook 22/07/08

Big day of No-Confidence motion today

Though market was trading with low volume with lots of uncertainity yesterday because of today's No-Confidence motion, it picked up in the afternoon session to make a high of 4168 and today it's a big day for the market as the fate of the government survival will be decided today and the indications are very bright for government getting through this motion smoothly. Light, sweet crude rose $2.16 to settle at $131.04 a barrel on the New York Mercantile Exchange.The Dow Jones industrial average fell 29.23 to 11,467.34 after moving in and out of positive territory.The dollar was mixed against other major currencies, while gold prices rose. For today, Nifty will face first resistance at 4220 on upper side and selling is expected there and if breaks 4220 then there is one more big resistance at 4265 which is difficult to cross.On downside, unless there comes any negative news, there doesn't seem to be more on downside.There might be gap up opening today and lots of volatility in the market.

Stock watch for the day:

Today no calls

Intraday call performance 21/07/08

Volatile day ending with bullish note

Though market started trading above 4100, it was not moving much in the morning session ahead of the vote of confidence motion for the government survival tomorrow and also volume was low and then it turned very volatile and then Later on in the afternoon session, buying came in which lifted the market above 4150 to make a high of 4168.On the global front, Asian markets finished strong and European markets have bounced back in mid session.Stocks like Cipla, Maruti Suzuki, ICICI Bank, Ranbaxy did well today, while losers were Satyam Computer, Ambuja Cements, L&T, BHEL etc.Tomorrow is a big day for indian market now.All indictaions of government survival is there at this moment and also this news was taken very nicely by market today.

Stock watch for the day:

RCom : This was given a short call with stop loss 460 for atregt430 and the low recorded in this stock was 430 and high 457

Following calls were given in yahoo messenger for clients:

Clients had a very decent day of profits today

Buy Nifty Futures around 4120 with stop loss 4103 and then coveerd around 4116 with small loss

Short Nifty Futures around 4115 with stop 4125 for 4090 made 4092

Buy Nifty Futures around 4095 with stop loss 4089 made 4104 and came down to hit 4086 and then zoomed above 4150..!

Buy Bombay Dyeing around 550 with stop loss 545 for target 565 and it made 561

Short BGR Energy around 314 with stop loss 320 for target 300 and it made 299

Short Tata Steel around 608 with stop loss 615 for target 590 and it made 593

Short India Info around 635 with stop 638 and it made 626

Short Kotak Bank around 484 with stop 487 for target 475 and it hit 474

Market Outlook 21/07/08

Market will witness uncertain moves

Though Indian market closed positive on friday, lot's of volatility is expected today with heavy political actions with government survival is still a big question mark now..!! Global factors are a little positive only and Oil rose towards $130 a barrel after its biggest one-week slide on record as inconclusive talks between Iran and world powers over Tehran's disputed nuclear programme dimmed prospects of ending the row.U.S. light crude for August delivery was up 91 cents at $129.79 after rising as much as $1.18 earlier, a small bounce from last week's over $16 slump, the biggest decline in dollar terms since futures began trading in New York in 1983. In percentage terms it was the steepest sell-off since late 2004.The Dow Jones industrial average rose 49.91 points to 11,496.57.Today and tomorrow these factors may not effect our market much unless theer comes a very big news.Our political activities have reached it's peak now as both the govt and anti parties are claiming they have numbers and it makes us remember the time Mr.Vajpayee lost the confidence motion by a single vote..!!
Will the history repeat itself..! only time can tell now .For today, on higher opening go short.If nifty moves above 4115, it will move to 4180 first big resistance and then 4220 will be very tough resistance to cross and if nifty remains below 4115, it will remain weak only and testing 4050 and 3990 may be on cards then.

Stock watch for the day:

RCom (435): Short this at higher levels with stop loss 460 for targets 430-425