Market Outlook 27/08/08

Market taking supports and volatile

Yesterday indian market didn't take any negatives of global cues and this is only because of expiry setting up and today it looks good, but volatility will continue for this week.On global scenario,The Dow Jones closed up 26.05 points at 11,412.30 and U.S. crude settled up $1.16 at $116.27 a barrel.Oil is raising and is little concern now and market mover Reliance Industries is struggling a lot and unless it clears its hurdles at 2220 and 2250, it will remain weak only and will face selling at higher levels.Lots of volatility is seen in this expiry time.For today, if nifty breaks above 4340, it will face strong hurdle at 4380-4390 and failure to cross will invite heavy selling and if gets past that resistances it will race to 4420. On downside, 4280 will act as strong support for nifty today.

Stock watch for the day:

Kotak Bank (598): Buy this stock with stop loss 586 for target 615-620

Intraday call performance 26/08/08

Volatile day ending flat

Though market opened low, buying came in as expected and due to expiry effect, trading was too volatile today.Buying interest was seen in banking, capital goods, power, cement, select technology and auto stocks.The market breadth was negative with advances at 524 against declines of 712 on the NSE. Top Nifty gainers included HDFC Bank, Satyam and PNB while losers included Suzlon, Reliance Industries and Tata Steel.The Asian markets closed in the negative while the European markets were trading weak.The Most interesting part of today's trading was indian market was not effected by negative global cues and this might be because of expiry on thursday.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4305 with stop loss 4315 and it made just 4298 and then stop loss hit

Short Nifty Futures around 4325 with stop loss 4340 and it made 4307

Short Ranbaxy around 512 with stop loss 514.2 and small stop loss hit

Short Aban around 2220 with stop loss 2230 and it made 2140....HUGE PROFIT

Short Reliance Capital around 1244 with stop loss 1250 and it made 1236 and then hit the small stop loss

Buy Reliance around 2150 with stop loss 2145 for target 2180 and it made 2187....GOOD PROFIT

Short Reliance Capital around 1275 with stop loss 1285 for target 1250 and it made 1253

Market Outlook 26/08/08

Market facing severe volatility due to expiry

Though market opened strong yesterday, it struggled exactly around first resistance given at 4380 and even for today, 4380 will hold the key and if nifty doesn't get past 4380, it will be weak for today.Global cues are also negative today.Financial worries dragged U.S markets down again and DOW dipped more than 240 points and Bond prices also jumped as investors fled to the safety of government debt.The Dow industrials fell 241.81 to 11,386.25.Light, sweet crude rose 52 cents to settle at $115.11 per barrel on the New York Mercantile Exchange after Tropical Storm Gustav formed in the Caribbean.For today, if nifty trades above 4350 then first resistance will come around 4380 and failure to crossover will invite heavy selling again and downward supports are at 4300 and then 4250.Be carefull if nifty opens weak, as it might recover later.

Stock watch for the day:

Today's calls only for clients

Intraday Call performance 25/08/08

Market closing flat after volatile day of trading

As expected, market opened high and was struggling exactly around 4380 leevl for long time in the morning sessiona nd then collapsed to make a low of 4320 level as metal, power, capital goods and oil stocks were dragging the markets down and nifty finally closed flat at 4335, up 7 points from the previous close.Asian markets closed stronga nd Europe closed weak today.The market breadth was negative with advances at 621 against declines of 624 on the NSE. Top Nifty gainers included HDFC, DLF and ICICI Bank while losers included Suzlon, Tata Power,Suzlon Energy,Aban and Unitech.

Stock watch for the day:

Adlabs Films: This was given a buy call with stop los 495 for tragte 515-525 and it made 519

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 4375 with stop loss 4365 and it made just 4393

Buy Nifty Futures around 4360 with stop loss 4348 and it made just 4373

Buy Tata Power around 1048 with stop loss 1038 for target 1075 and it made 1061 and then came down crashing

Buy Reliance Capital around 1270 with stop loss 1268 and it made 1284

Buy Reliance Indutries around 2265 with stop loss 2250 and stop loss hit

Short Aban Lloyd around 2195 with stop loss 2205 for target 2170-2155 and it made 2151

Buy Reliance Industries around 2250 with stop loss 2245 and it made just 2258 and then gave cover order at 2251

Market Outlook 25/08/08

Market may open higher today

After opening low, indian market recovered well and also closed in positive zone and well set to make highs today.On global front, cue are very positive.The Dow rose 197.85 to 11,628.06, near its highs of the session.Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand.U.S. crude fell $6.59 to settle at $114.59 a barrel - the biggest fall in percentage terms since December 27, 2004.For today, nifty above 4330 will face first hurdle at 4380 and cross over will invite heavy buying.Support for nifty is at 4290.It's a buy at every dips today.Still come concerns are there for indian market as RBI may take crucial steps again fro controlling higher inflation and of NSG meeting which is still not concluded.But for today, sentiments are very positive.Tata Motors may be volatile today because of its problems in west bengal.

Stock watch for the day:

Adlabs (502):-Buy this stock with stop loss 495 for target 515-525

Intraday call performance 22/08/08

Market opening low and ending positive

Market opened weak as expected making a low of 4248 and then recovery came in due to strong European markets to take nifty to a high of 4337.Nifty closed at 4327, up 43 points from the previous close.The market breadth was negative with advances at 558 against declines of 662 on the NSE.Top Nifty gainers included Hindalco, SAIL and HDFC while losers included Satyams, BPCL and NTPC.Now, if the global factors are positive, and if there are less negative news market might just take off from here and will be interesting to see next week opening.If there comes any negative news, market might get effected a bit and otherwise market is set for upmove now.Market mover Reliance Industries also should move to give a boost to the weak market sentiments.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4280 with stop loss 4295 and it made 4261

Short Bank of India around 255 with stop loss 256 for target 250-245 and it made 252.2 and then hit the stop loss

Short JSW Steel around 768 with stop loss 770 for target 750 and it made 752

Short Reliance Capital around 1230 with stop loss 1236 and the small stop loss hit

Short Reliance Capital around 1240 with stop loss 1246.5 for target 1220-1200 and it made 1223

Short Reliance Infra around 967 with stop loss 971.2 and it made just 958 and then hit the stop loss

Short Reliance Indutries around 2262 with stop loss 2270.5 for target 2230 and it made 2225

Market Outlook 22/08/08

Watch out for opening today

Overall it was a very bad for indian market yesterday as it crashed to make a low of 4270 and now that inflation figures came out as 12.63% for the week ended August 9 is again bad for the market and RBI CRR hike fear will be there again when they meet next because of this high inflation figures and on the global scenario, The Dow Jones industrial average rose 12.78 to 11,430.21. It was the second straight session of moderate gains for the blue chips after heavy losses the first two days of the week.Crude oil spiked above $5 a barrel as traders became rattled over increasingly hostile Russian rhetoric toward a U.S.-Poland deal to install a missile defense system in Eastern Europe- a move Moscow views as a threat and finally settled at $121.18 a barrel on the New York Mercantile Exchange.So, even now the cues are bad and though market is oversold, still some downside might be there.For today, if nifty breaks above 4295 it will find first resistance at 4330 and crossover will find another big resistance at 4380 and unless this level is crossed, any raise will invite selling and on downside, if nifty breaks 4270 support area, it will slide to 4235 first and then to 4200 support area.Today being the last day of the week, be carefull in trades.If there is low opening, be cautious in shorting as recovery may come from initial panic.

Stock watch for the day:

Today's calls only for clients