Market Outlook 24/09/08

Higher level selling to continue with lots of volatility

Yesterday market showed its weekness by breaking 4200 and going down further and now all set to break 4100.Expiry effect will be seen with too much volatility for sure.On global scenario, The Dow fell 161.52 to 10,854.17 after having risen more than 125 points in the early trades as investors are still uncertain about the rescue plans U.S government is taking to bail out financial sectors.Light, sweet crude for November delivery fell $2.76 to settle at $106.61 on the New York Mercantile Exchange.So, lots of uncertainity is exisiting all over now.In indian market, for today nifty wil face strong resistance at 4165 and above that 4200 wil be very strong resistance and nifty will again slip from higher levels and the lower supports are at 4110 and 4065.Watch out for volatile market.

Stock watch for the day:

Reliance Capital (1210): Short this stock on raise with stop loss 1250 for target 1175

Intraday call performance 23/09/08

Market crash below 4200 as expected !

Though market opened weak below 4200, it made a smart recovery to take nifty above 4200 in the morning session, but again faltered at higher levels to fall to make a low of 4118 and then close at 4126, down 96 points from the previous close due to global weekness and crude spike.European and Asian markets were also trading low.Huge selling was seen in realty, banking, technology, capital goods, telecom, metal and power stocks.The market breadth was negative with advances at 235 against declines of 1023 on the NSE. Top Nifty gainers included Sun Pharma, Nalco, BPCL and Cairn while losers included Ranbaxy, Satyam, TCS and DLF.Expiry volatility was witnessed today as expected.

Following calls were given in yahoo messenger for clients:

Day was too good for all my clients

Short Nifty Futures around 4210 with stop loss 4220 and small stop loss hit

Short Nifty Futures around 4210 stop 4224 for target 4180-4150 and gave cover order exactly at 4150....HUGE PROFIT

Short Reliance Capital around 1252 with stop loss 1260 and it hit the stop loss

Short Punjab LLoyd around 301 with stop loss 303.2 and it hit the small stop loss

Buy Kotak Bank around 611 with stop loss 606 for target 625 and it made 621....GOOD PROFIT

Short Reliance Infra around 872 with stop loss 880.5 and it hit the small stop loss

Short Suzlon around 203 with stop loss 205.5 for target 195 and it made 192.7....HUGE PROFIT

Short Reliance Infra around 890 with stop loss 902 for target 855 and it made 859....HUGE PROFIT

Short Bank of India around 286 with stop loss 288.5 for target 278 and it made 278.4....HUGE PROFIT

Short DLF around 403 with stop loss 405.5 for target 394 and it made 392.5....HUGE PROFIT

Short TCS at 763 with stop loss 768 for target 750-730 and it made 715....HUGE PROFIT

Market Outlook 23/09/08

Crazy jump of crude oil shows the depth of manipulation !

Yesterday nifty reacted exactly at my resistance level around 4265 and came down towards 4200 and weekness is expected to continue today also and today there might be lots of volatility in the market due to various factors like thursday expiry and uncertain global cues etc.In global scenario, it was crazy trading in crude oil which shows the depth of manipulation in that ! Light, sweet crude for October delivery jumped as much as $25.45 to $130 a barrel on the New York Mercantile Exchange before falling back to settle at $120.92, up $16.37.The Nymex temporarily halted electronic crude oil trading after prices breached the $10 daily trading limit. Trading resumed seconds later after the daily limit was increased.The Nymex temporarily halted electronic crude oil trading after prices breached the $10 daily trading limit. Trading resumed seconds later after the daily limit was increased.The Dow Jones Industrial average crashed 372.75 points to close at 11,015.69 as given here yesterday (read my yesterday's blog) For today, in indian market nifty below 4200 will be very weak and will move towards 4140 strong support and break of this will be very bad for the market.Upper side nifty will face resistance around 4240 and then at 4270 strong resistance.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 22/09/08

Market closing flat

Though market opened high above 4300, it was just for minutes as it directly fell to 4265 resistance zone as mentioned here and then never recovered from there and fell towards strong support of 4200.Morning session, market was range bound and was trading in a narrow range.Market mover Reliance Industries took the initiative again by dragging the indices down.European markets were marginally down today.Nifty closed at 4223, down 22 points from the previous close.The market breadth was negative with advances at 534 against declines of 709 on the NSE. Top Nifty gainers included ACC, Tata Steel and ITC while losers included Suzlon, L&T and Maruti.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 4275 with stop loss 4286 and gave cover order at 4220....SUPER PROFIT

Short Bank of India around 288 with stop loss 290.2 and it just made 286 and then hit the small stop loss

Buy Reliance Capital around 1284 with stop loss 1275 and it made 1305....SUPER PROFIT

Short Reliance Infra around 912 with stop loss 917 for taregt 880 and it made 871....SUPER PROFIT

Short ICICI Bank around 624 with stop loss 629 and it hit the small stop loss

Short Suzlon around 210.5 with stop loss 213.2 for taregt 200 and it made 196....SUPER PROFIT

Market Outlook 22/09/08

Whole Global Market is zooming..!!

It was a fantastic day of trading on friday as indian market also followed global trend and rallied and closed very bullish.On global front, The Dow Jones industrial average jumped 368.75 points to close at 11,388.44 on friday after U.S government came out to support losing banks and also due to temporary ban on short selling in certain financial stocks.Crude oil which came around $90, started climbing up now and closed at $102.73 .Today DOW is definitely expected to give up most of the gains after 2-3 days of huge rally.In indian market, many stocks are looking hot and if nifty breaks 4265 today, it will directly go towards 4330 resistance and if nifty gets past this then it will face one more resistance at 4355 and then 4380.So, mutiple resistances for nifty above 4265 and below 4265, nifty will face some selling and downward supports are at 4200 and 4160 Higher level be cautious in today's market.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 19/09/08

Explosive day of trading in Indian Market

Market opened huge gap up today and continued its momentum till the end with strong global cues with U.S government coming to rescue banks from financial crisis.Markets rallied on huge volumes and total turnover traded was at Rs 96462.60 crore.Market mover Reliance Industries along with other majors like Infosys Technologies, HDFC, ONGC helped the market to explode heavily today.The market breadth was positive with advances at 1037 against declines of 239 on the NSE. Most beaten down sector was real estate, which gained momentum smartly.Top Nifty gainers included Satyam, Reliance Industries,Infosys Technologies HDFC,Tata Power, DLF and ICICI Bank while losers included Hero Honda and BPCL.The inflation figures which came out higher yesterday didn't have any effect on the market today.

Stock watch for the day:

SBI: This was given a buy call with stop loss 1540 for target 1590-1620 and it made a high of 1620 exact.

Following calls were given in yahoo messenger for clients:

Clients enjoyed decent profits even in this huge gap up opening

Short Nifty Futures around 4195 with stop loss 4205 and it hit the small loss

Short Nifty Futures at 4225 with stop loss 4240 for target 4180 and it made 4184....SUPER PROFIT

Short Reliance Infra at 886 with stop loss 893 and it made 875....GOOD PROFIT

Short India Info at 109.2 with stop 110.2 hit the small stop loss

Short SBI at 1585 with stop loss 1596 for target 1555 and it made 1553....SUPER PROFIT

Short Suzlon around 220 with stop loss 222.7 for target 215-210 and it made 209.55....SUPER PROFIT

Market Outlook 19/09/08

Market may open gap up today

After yesterday's positive close, the momentum likely to continue today also.On global front, Dow Jones industrial average jumped 410 points to close at 11,019.69, its biggest percentage gain in nearly six years after the Bush administration prepared a plan to rescue banks from financial crisis-though details of the plans are still in progress.Light, sweet crude for October delivery added 72 cents to settle at $97.88 a barrel on the New York Mercantile Exchange.In indian stock market, inflation numbers have been announced and it has come at 12.14 % for the week-ended September 6 from 12.10 % a week ago and this is a bit negative.For today, nifty above 4045 may directly test 4120 resistance and if gets past 4120, then it will face strong resistance around 4165 range and above that 4220 is final strongest resistance.Supports are at 4000 and 3955 for today.Watch out for the final hour action today as today being the week end, it will be interesting to watch.

Stock watch for the day:

SBI (1566): Buy this stock in dips with stop loss 1540 for target 1590-1620