Market Outlook 05/08/08

Market may open positive on back of crude fall

Nifty reacted exactly from resistance area of 4440 yesterday and closed well above support.Market major Reliance industries didn't allow the market to recover much yesterday and will be interesting to see it's moves today as it is near to support area now.Global scenario looks ok with Light, sweet crude for September delivery fell $3.69, or 2.9 percent, to settle at $121.41 a barrel on the New York Mercantile Exchange. It was crude's lowest settlement price since May 5. Earlier, prices plummeted to $119.50, the lowest level since May 6.The Dow Jones industrial average fell 42.17 to 11,284.15 ahead of the Fed's meeting as energy and materials stocks declined following a broad drop in commodities.For today, nifty above 4440 will try for 4440 resistance again and failure to cross will invite selling again and if breaks 4440 then it will move to 4480 resistance and higher level some selling might come.On lower side, nifty has strong supports at 4350 and 4330.Unless these supports are broken there will not be much low today.Today's FED meeting will be again important and indications are Federal Reserve is expected to hold off raising rates.

Stock watch for the day:

Reliance Industries (2242): Watch this stock at higher levels and if fails to cross 2280, sell it for lower target 2220-2200.If moves above 2280, don't be short.

Intraday call performance 04/08/08

Market closing negative

As expected nifty faced resistance around 4440 and came down heavily to make a low of 4362 and trading was very volatile today and Reliance Industries which took the market up on friday didn't let the market recover today as it was very week below 2340 as told here.The Asian markets had cracked badly at close while the European markets were trading flat with Nifty closing at 4395, down 18 points from the previous close.The market breadth was positive with advances at 898 against declines of 359 on the NSE.Nifty gainers included HCL Technologies, SAIL and ABB while losers included TCS, BHEL and ONGC

Following calls were given in yahoo messenger for clients:

Good day of profits for clients today

Buy Nifty Futures around 4415 with stop loss 4400 and when it made 4430, gave cover order

Buy Nifty Futures at 4432 with stop loss 4425 and it just made 4440 and then hit the stop loss

Buy Nifty Futures at 4370 with stop loss 4360 and when it made third target at 4435, gave cover order

Buy United Phosphrous around 348 with stop loss 347.8 for target 357 and it made 355

Buy Reliance Industries at 2258 with stop loss 2252 for target 2285 and it made 2280

Short Gammon India around 208 with stop loss 210.2 and it made just 206.7 and then hit the small stop loss

Buy BRFL at 336 with stop loss 333.8 and it made 341

Buy Reliance Capital around 1317 with stop loss 1300 for target 1345-1370 and it made 1365

Market Outlook 04/08/08

Market looking good at dips

It was total bullish market on friday and closing was also impressive above 4400-just below crucial resistance at 4440.Now, only concern is of Reliance Industries approaching it's strongest resistance at 2340 and if it doesn't get past that resistance, it may slide down and even nifty below 4440 will face some selling.Oil prices on Friday settled up $1.02 at $125.10 a barrel in New York after Israeli Deputy Prime Minister Shaul Mofaz said Iran was heading toward a major breakthrough in its nuclear program, fanning concerns of a potential confrontation that could disrupt supply from the OPEC nation.The Dow Jones industrial average was down 51.70 points at 11,326.32. The U.S. Federal Reserve is expected to hold off raising rates on Tuesday.For today, if nifty gets past 4440, it will face hirdle only at 4490 and then at 4535.Below 4440, nifty will move towards 4360 first and if gos down still, then 4320 will be tested on downside.Higher level selling will be witnessed today.

Stock watch for the day:

Today's calls only for clients

Intraday Call performance 01/08/08

Reliance taking charge of huge upmove of index..!

Market opened weak as expected because of weak global cues and picked up well at supports to break all the resistances in between to make a high of 4423 and Reliance Industries seemed to have taken full control of this huge upmove as it moved from 2153 to make a high of 2313 straight.Europe was trading weak and this also didn't effect our upmove today.Huge buying was seen in capital goods, power, oil & gas, banking, metal, realty and technology stocks.Top Nifty gainers included PNB, Suzlon and HDFC while losers included Reliance Communications, Tata Power and ACC.The Asian markets closed weak today.Monday trading will be interesting as global cues also will play a role in market movements.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4250 with stop loss 4220 for target 4300-4320 and it made 4320....HUGE PROFIT

Short Nifty Futures around 4335 with stop loss 4350 and it made 4310....GOOD PROFIT

Short Nifty Futures around 4380 with stop loss 4400 and it made just 4366 and then told to cover position at 4383

Short Tisco around 675 with stop loss 680.2 for target660 and it made just 666

Short India Info around 676 with stop loss 682 for targets 660 and it made just 672 and then hit the stop loss

Short india info around 684 with stop loss 686.2 and it made 667....GOOD PROFIT

Short BRFL around 326 with stop loss 330 and stop loss hit

Short Tata Motors around 400 with stop loss 404 for target 394 and it made 393....GOOD PROFIT

Short RPL around 166 with stop loss 167.2 and it hit the smal stop loss

Buy Reliance around 2230 with stop loss 2215 for target 2265-2290 and it made 2313....HUGE PROFIT

Market Outlook 01/08/08

Markets are range bound....!

market was very range bound in the expiry day and was waiting for inflation figures to be announced in the evening and The annual rate of inflation for the week ended July 19 once again rose marginally to settle at 11.98 per cent as against 11.89 per cent for the previous week.The Dow Jones industrial average fell 205.67, or 1.78 percent, to 11,378.02, continuing its string of erratic, triple-digit daily swings after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers.Light, sweet crude fell $2.69 to settle at $124.08 a barrel on the New York Mercantile Exchange after rising more than $4.50 on Wednesday. Oil has fallen more than $20 since hitting a high above $147 on July 11, raising hopes that inflation pressures could ease.It will be interesting to see today's opening and if nifty not able to cross 4350 resistance like yesterday, it may test 4280 very strongly an dbreak of that will go to 4260 first and then 4240.On upper side, above 4360 there is one more resistance at 4365 and then straight to 4400.Higher level selling will come for sure.There might be gap down opening also.Overall interesting day today.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 31/07/08

Expiry effect not much today..!

Though market opened little positive, it couldn't cross the first resistance given at 4350 today and came down to make a low of 4385 and closed above 4300.Trading was dull whole day today.Inflation numbers will be announced today evening and it seemed like market was also considering that.The market breadth was negative with advances at 581 against declines of 663 on the NSE.Reiance Industries closed little positive above yestrday's close.Today's inflation figures is also very important now for further market moves.Anyways, market looks well set for move towards 4400.

Stock watch for the day:

Axis Bank: This was given a buy call with stop loss 662 and it opened below 662 and never crossed 662 the whole day

Following calls were given in yahoo messenger for clients:

Today was an average day for clients with average profit

Buy Nifty Futures around 4310 with stop loss 4290 and it made 4347

Buy Nifty Futures around 4315 with stop loss 4305 and it hit the stop loss

Buy Axis Bank around 652 with stop loss 649 and it hit the small stop loss

Buy Adlabs around 522 with stop loss 518 for target 535 and it made 533

Short Maruti around 575 with stop loss 578 and gave cover order around 572 in small profit

Buy Maruti around 575 with stop loss and it made 578 and gave cover order around 577

Short Reliance Capital around 1335 with stop loss 1343 and when it made 1290, gave cover order

Buy RPL around 164 with stop loss 163 and it made 165.3 and told to cover the position

Short Tisco around 660 with stop loss 661.5 for target 650 and it made 652

Market Outlook 31/07/08

Expiry day volatility today

After nifty started moving forming a base at 4160, it made a high of 4327 yesterday and moving towards 4400-4500 as told and today being expiry day, lots of volatility will be seen in the market.There might be a gap up opening today and higher level selling might come in this expiry day.On global scenario, Light, sweet crude for September delivery jumped $4.58 cents to settle at $126.77 a barrel on the New York Mercantile Exchange, after earlier rising as high as $127.39. It was crude's biggest one-day rally since July 10, when prices ended $5.60 higher. Oil closed $2.54 lower on Tuesday at $122.19 a barrel.
The Dow Jones industrials rose more than 180 points, bringing its two-day gain to more than 450 after a rebound in financial stocks and optimism about private sector jobs.The Dow rose 186.13 to 11,583.69.The dollar was higher against other major currencies, while gold prices fell.For today, nifty above 4325 wil go towards first resistance at 4355 and then at 4400 and if nifty is below 4325, supports are at 4265 and 4240.Positive closing expected today.

Stock watch for the day:

Axis Bank (679): Buy this stock in dips with stop loss 662 for target 690-700