Market Outlook 07/10/08

U.S economy problems creating global stock market crash

It was a scary crash in indian market yesterday and even today the global markets are very bearish and moreover
The Dow Jones industrial fell 369.88 points to 9,955.5.After trading as low as 9,525 intraday and on track for its worst-ever point decline, the Dow clawed back to close at 9,955.50, its first close below 10,000 since 2004.The sell-off came despite the $700 billion U.S. government bailout package and this huge economic slowdown in U.S has resulted in global stock market melt down.Be carefull in indian stock market as for today, nifty has great support now at 3540 and if this is not broken, it will move up to test its first resistance at 3625 and above this it will move towards 3685-3710 and If nifty breaks all important support of 3540, then one more strong support exisits at 3465 which will not be broken for sure. So, a very important and interesting day of trading today.Can india de-couple from world market today !!

Stock watch for the day:

Today's calls only for clients

Intraday call performance 06/10/08

Market crashing below 3600 and nifty near major support !!

Global weekness crushed the indian markets today and this was clearly mentioned here that break of 3745 will result in 100-150 straight fall and it happened exactly as nifty made a low of 3582 after breaking 3745.Asian and Europian markets also crashed badly along with the indian market.As expected, big brother -Reliance Industries took the initiative again to crack the indian market as it crashed very badly falling to 1630 range.The market breadth was negative with advances at 57 against declines of 1227 on the NSE. Top Nifty gainers included Tata Communication and BPCL while losers included Sterlite, Suzlon, Tata Steel and DLF.It was a scary fall in indian market as nifty reaching 3550 from level above 6000 !

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3655 with stop loss 3635 for target 3685-3710 and it made 3706....HUGE PROFIT

Buy Nifty Futures at 3650 with stop loss 3638 and it made 3667....GOOD PROFIT

Buy Kotak around 514 with stop loss 509 and it hit the small stop loss

Buy Reliance Industries around 1700 with stop loss 1690 and it made 1724

Buy Bank of India at 280 with stop loss 278 and it hit the small stop loss

Short Reliance Infra around 683 with stop loss 692 for target 660-650 and it made 626....HUGE PROFIT

BUY ONGC around 985 with stop loss 980 for target 1000 and it made 998....GOOD PROFIT

Buy Bank of India around 265 with stop loss 263 for target 272 and it made 274....GOOD PROFIT

Market Outlook 06/10/08

Market near the crucial edge again !

Indian market crashed again on friday and closed well near to 3800 support area.On global front, The Dow Jones industrial fell 157.15 points to 10,325.70 after the U.S. House of Representatives approved a $700 billion financial rescue plan as investors are still in uncertain condition about this rescue plans of the government.The U.S. crude settled at $93.88 a barrel, down 9 cents.Now for today, if nifty reminas above 3800 it will be positive and if breaks 3800, then it will slide heavily towards one more big support area 3745-which has to be protected or else another 100-150 points big fall cannot be ruled out and on upper side, nifty has crucial resistanes at 3870 and 3920 and then 3980 strongest resistance.So, watch out for the crucial begining on the week.It will also be interesting to see the market major Reliance Industries in action today.
Banking, Real estate and Infrastructure stocks will be interesting to watch today.Nifty might also open gap down near the support area.So, better to watch out for the crucial first hour.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 03/10/08

Market cracking as expected !

As told here, nifty never crossed 4000 and remianed weak and crashed to make a low of and closed at 3818, down 132 points from the previous close.The main contributor of this downfall as usual was Reliance Industries.The Asian markets also closed weak.Today's last hour saw huge selling.The market breadth was negative with advances at 223 against declines of 1030 on the NSE. Top Nifty gainers were Ranbaxy, BPCL and Sun Pharma while losers included Tata Steel, ICICI Bank and Sterlite.So, the weak closed in bearish mode today.

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 3915 with stop loss 3940 for target 3860 and when it made 3850, told to cover all position....HUGE PROFIT

Short TCS around 654 with stop loss 657 and the small stop loss hit

Short Reliance Infra around 784 with stop loss 793 for target 760-740 and it made 730....HUGE PROFIT

Short ONGC around 1022 with stoploss 1029 for taregt 1009 and it made 1013

Short TCS around 653 with stop loss 660.5 for target 640-630 and it made 643

Short Reliance Capital around 1095 with stop loss 1107 and gave cover order around 1080

Buy Reliance Capital around 1078 with stop los 1072 and it made 1088 and told to cover anywhere in profit as it was final hours of trading

Market Outlook 03/10/08

Below 4000 nifty remains weak

Indian market just recovered from low's on wednesday and closed good.But, as i mentioned on wednesday itself, today's moves will depend on global cues as yesterday was a trading holiday and global cues are negative for today as DOW jones fell 348.22 to 10,482.85 even after the $700 billion financial industry bailout found a second life on Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.Unemplyement worries again showing concern in U.S now.The U.S has also extended ban against all short-selling in the shares of more than 800 financial companies till 17th of this month.Light, sweet crude fell $4.56 to settle at $93.97 a barrel on the New York Mercantile Exchange. Gold and other commodities also declined during the session.So, be cautious in higher levels today.Nifty has to get past crucial resistances at 4000-4025 for further upmove and if nifty breaks 3920, it will slide to 3880 first and then break will take to 3845.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 01/10/08

Market closing bullish ahead of trading holiday tomorrow

Though market started in negative mode in the morning session, recovery came in the later session to pull the market up like yesterday as nifty made a high of 4000 and then again in the last hour profit booking came in.But volatility was seen today as expected ahead of trading holiday tomorrow.Today it was the day of IT stocks which puled the market, though market mover Reliance Industries closed negative.Buying was also seen in telecom, FMCG, power, pharma and few metal stocks and also selling was seen in realty and few oil stocks.Today's U.S market will be of utmost interest and important also for indian market opening on friday.Nifty closed at 3950, up 29 points from the previous close.The market breadth was positive with advances at 772 against declines of 477 on the NSE. Top Nifty gainers included Satyam, HDFC Bank, Tata Power while losers included SAIL, L&T and Reliance Industries.

Stock watch for the day:

Reliance Infra :This was given a short call with stop loss 820 for target 760 and it made a low of 761 and high of 818.7

Following calls were given in yahoo messenger for clients:

Short Nifty Futures around 3880 with stop loss 3902 and it made 3865

Short Nifty Futures around 3975 with stop loss 3995 for target 3950 and it made 3954

Short Reliance Capital around 1111 with stop loss 1122 and it made 1093

Short ONGC around 1028 with stop loss 1033 and it hit the small stop loss

Short TCS around 652 with stop loss 656 and it hit the small stop loss

Short Bank of India at 283 with stop loss 285.2 and it hit the small stop loss

Short ICICI Bank around 560 with stop loss 566.5 for target 540 and it made 544

Short DLF around 354 with stop loss 358 and it made 349 and then hit the small stop loss

Buy Reliance Capital around 1160-1165 with stop loss 1148 and it made 1182

Market Outlook 01/10/08

Will the market hold on at higher levels !!

Though indian market opened low due to global breakdown, it recovered remarkably well to move almost near to 4000 and will it stay above 4000 is a big question mark now as ADAG may have different plans and tomorrow's trading holiday may bring in volatility also.On global scenario, The Dow rose 485.21 to 10,850.66 after the historic fall yesterday.Though the U.S governments financial rescue plan failed, they are in for second attempt in improving credit crisis and though nothing has been still finalised, this upmove is not with full confidence as worries are still very much in investors and DOW can go down again.Light, sweet crude rose $4.27 to settle at $100.64 on the New York Mercantile Exchange. Oil fell more than $10 a barrel Monday as investors worried that a weaker economy would curtail demand.For today, nifty above 3920 will face tough resistance around 3970 and above that 4025 will be very very strong resistance for the day.Downside nifty has strong support at 3895 and then at 3860.One can expect volatile market in the begining of new month today.Be cautious at higher levels today.

Stock watch for the day:

Reliance Infra (790): Short this stock at higher levels with stop loss 820 for atregt 775-760.If moves above 820, don't be short on this.