Market Outlook 04/11/08

Market on the verge of break out..but caution ahead of U.S elections

Yesterday nifty rallied above 3000 and closed in a bullish note above 3000.Today, if stays above 3000, it will be total bullish and if not, might come down a bit.On global scenario, The Dow Jones industrial average closed 9,319.83-down 5.18 points from the previous close ahead of U.S elections today.Dow Jones moved in a range of 155 points and trading was quiet as it was evident that investors are more cautious and more focused on elections today.Stocks showed little lasting impact from the Institute for Supply Management report that its measure of U.S. manufacturing dropped last month to the lowest level since September 1982.The trade group said its index of manufacturing activity fell to 38.9 from 43.5 in September.The dollar rose against most other major currencies. Gold prices also rose.Light, sweet crude fell $3.87 to settle at $63.91 a barrel on the New York Mercantile Exchange.In indian market today, nifty above 3000 will test 3080 strong resistance and if breaks 3080, then move towards 3130 is on today.Higher level might exert pressure again.If nifty breaks 3000, then it will have strong support at 2960.Though market is looking bullish for today, trading might be cautious and indian investors also might be more focused on U.S elections today.

Stock watch for the day:

Today's calls only for clients

Intraday Call Performance 03/11/08

Market closing positive above 3000

Positive global cues added with RBI rate cut took the market high above 3000 today as expected.Nifty today opened above 3000 within minutes of opening and though it came down a bit, buying came in again to lift the market above 3000.Reliance Industries, L&T, SBI, ICICI Bank, HDFC, Bharti Airtel, ONGC and NTPC were biggest contributors in today's rally.But trading volume was less.Nifty closed at 3043, up 158 points from previous close is very positive for the market.Banking and realty stocks, along with capital goods, rallied today.Top Sensex gainers include Reliance Infrasructure, JP Associates, DLF, Ranbaxy, while losers were Satyam Computer and Infosys.Remain above 3000 will be good for the market tomorrow unless we have a big negative news around.Today it will be interesting to see how DOW trades and positive close will boost indian market tomorow also.

Following calls were given in yahoo messenger for clients:

It was a good trading day with good profits for clients

Short Nifty Futures around 3040 with stop loss 3065 for target 2960 and it made 2960 and gave cover order....SUPER DUPER PROFIT

Short HDIL around 152-153 with stop loss 154.4 for target 142-136 and it made 136....SUPER DUPER PROFIT

Short India Bulls Real Estate around 126 with stop loss 128.3 and it made just 123.4 and then hit the stop loss

Short Sail around 88 with stop loss 89.2 and it made 86.8

Short RCom around 226 with stop loss 229.2 for target 218 and it made 221.8....GOOD PROFIT

Short SBI around 1220 with stop loss 1228 for target 1190 and it made 1203....GOOD PROFIT

Short JSW Steel around 311 with stop loss 313.2 for target 305 and it made 308 and told to cover position

Market Outlook 03/11/08

Positive global cues can help nifty today

It was a very volatile day of market opening up with a huge gap up on friday and then sudden crash and again move up in the last hour and closing strong.Global cues are still positive for today also, but upper level is seen exerting pressure in the market.Another positive news is of RBI cutting CRR by 1%, repo rate by 0.5% signaling softening of interest rates to prop up growth.The SLR cut would inject about Rs 40,000 crore into the banking system.The Dow Jones industrial average gained 144.32 points, or 1.57 percent, to 9,325.01.Financial shares, led by a more than 8 percent gain in JPMorgan Chase lifted Wall Street as the interbank borrowing cost eased.The interbank cost of borrowing dollars, sterling and euros again eased in overnight markets, lending support to equities.But economic data on Friday that showed U.S. consumers are tightening their belts offered more evidence of a deep slowdown, though the market appeared to shrug it off.Oil fell nearly $2 on Friday as weak demand and the global economic crisis put crude on track for the biggest monthly drop ever.U.S. crude fell $1.82 to $64.14 a barrel.It was the sharpest economic decline in seven years for the United States, the world's largest oil consumer, provoking further falls across commodities and global stock markets.For today's market in india, Nifty might turn positive only above 2920 and if stays above 2920, it will hit 2945 first and then 3000.But, if nifty fails to test 2920, it will come down sharply towards 2850 support first and then to 2790.

Stock watch for the day:

Today's calls only for clients

Intraday Call Performance 31/10/08

Huge gap up opening and closing positive

It was a fantastic huge gap up opening today in the market due to positive global cues and nifty made a high of 2921-exactly at resistance zone in the opening hour and came down very sharply towards 2775 and then again bounced back in the closing hours and closed very strong at 2885, up 188 points from previous close.Market mover Reliance Industries took the major initiative today along with metal and oil & gas stocks to take the market up.Huge buying was also seen in banking, telecom, IT, auto and capital goods stocks.Market breadh was positive throughout the session and about 1768 shares have advanced while 1185 shares have declined. Nearly 237 shares remained unchanged.Volumes were very lower in today's trade.On the global front, Asian markets ended mixed and European markets were trading weak.Volatility was there today also as expected.Top Sensex gainers include Mahindra & Mahindra, HDFC, Sterlite industries, ICICI Bank, JP Associates

Following calls were given in yahoo messenger for clients:

It was a fantastic profit day for all my clients today

Short Nifty Futures around 2945 with stop loss 2972 for target 2890 and it made 2897....VERY GOOD PROFIT

Short Nifty Futures around 2950 with stop loss 2972 for target 2920-2880 and when it made 2860, told to cover the position....SUPER DUPER PROFIT

Short RCom around 205 with stop loss 207.2 for target 200 and it made 199....VERY GOOD PROFIT

Short HDIL around 152 with stop loss 154.2 for target 143-136 and it made 140....SUPER DUPER PROFIT

Short SBI around 1175 with stop loss 1182 for target 1160-1135-1100 and it made 1065....SUPER DUPER PROFIT

Short India Bulls Real Estate around 125 with stop loss 126.2 for target 119-115 and it made 117....SUPER DUPER PROFIT

Market Outlook 31/10/08

The level of 2740 still showing crucial trend

After a break of one day, market will resume today.It was a volatile day on wednesday with nifty feeling pressure at higher levels and the trend is expected to continue today also.On global front, The Dow Jones industrial average went up nearly 190 points with less volatility after the Commerce Department's report that GDP fell at an annual rate of 0.3 percent during the third quarter -- its worst showing in seven years. Analysts expected a 0.5 percent decline in GDP, the broadest measure of economic growth or contraction, but while the report was better than expected, it still pointed to an economy that is shrinking.The new report said Americans' disposable income fell at an annual rate of 8.7 percent in the quarter, the largest in records dating back to 1947 and the worst still doesn't seem to be over yet.A collapse of the housing market and locked-up lending have produced the worst financial crisis to hit the country in more than 70 years.To cushion the fallout, the Fed slashed interest rates on Wednesday by half a percentage point to 1 percent, a level seen only once before in the last half century.The Dow Jones industrial average rose 189.73 to close at 9,180.69.On Thursday, the dollar was mixed against other major currencies, while gold prices fell.Light, sweet crude fell $1.54 to settle at $65.96 per barrel on the New York Mercantile Exchange.In indian market today, nifty is facing continuous pressure around 2740 as mentioned on wednesdaya nd today also 2740 will be crucial trend and if nifty stays above that, then it will move to 2800 and if fails to cross 2740 on higher side, it will go down to test 2620 great supporta nd break wil take to 2575.Overall interesting weekend.

Stock watch for the day:

Today's calls only for clients

Intraday Call Performance 29/10/08

Profit booking in the market and still closing positive

Market opened up with gap up and struggled around 2740 as nifty couldn't sustain above 2740 and came down to make a low of 2632 and then again went up above 2700.Volatility was there in the market today also as market was facing pressure at higher ends.Nifty closed at 2697, up 12 points. Metal, oil & gas stocks and few technology stocks saw good buying coming in, whereas realty, pharma and FMCG stocks witnessed selling pressure.Top Sensex gainers include Hindalco, Mahindra & Mahindra, Wipro and ACC, while losers are Reliance Communications, Ranbaxy, DLF and Satyam Computer, among others.Among the frontliners, Suzlon Energy fell 75% and Reliance Industries tanked 40%. Tata Motors and Tata Steel plunged 60% each.Volumes increased due to F&O expiry.Market breadth was in favour of declines; about 1324 shares have advanced while 1637 shares have declined. Nearly 229 shares remained unchanged.On the global front, Asian markets ended mixed.European markets were trading higher.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 2710 with stop loss 2690 and stop loss hit

Short Nifty Futures around 2720 with stop loss 2742 for target 2670 and it made 2685....VERY GOOD PROFIT

Buy SBI around 1138 with stop loss 1133 and it made just 1149 and then stop loss hit

Short HDIL around 138 with stop loss 141.2 for target 132 and it just made 134

Short Reliance Industries around 1182 with stop loss 1195 and it made just 1169

Buy Bank of India around 218 with stop loss 215.6 for target 226-230 and it made 228.5....VERY GOOD PROFIT

Short India Bulls Real Estate around 120 with stop loss 121.2 for target 115 and it made 115.3....VERY GOOD PROFIT

Short Reliance Industries around 1190 with stop loss 1198 and it made 1183 and then hit the stop loss

Market Outlook 29/10/08

Deepawali upmove to continue..!

It was a blasting deepawali muhurat trading yesterday as indian market also danced to the deepawali celebrations as nifty zoomed 160 points to close at 2684 and buying expected to continue today also.Realty, metal, power, capital goods, oil and auto stocks lead the rally yesterday.Global cues are also very positive today with The Dow Jones industrial average jumping nearly 900 points due to short covering ahead of Fed meet and rate cut announcement on Wednesday and after start of the Fed's efforts to revive lending in the commercial paper market, where companies turn for short-term loans and Dow raected positively by closing 889.35 points to 9,065.12.The market's reaction was notable because it was investors' anguish over a likely recession that had them selling just days ago. But analysts don't necessarily see that change of heart as a sign of health.The dollar was mixed against other major currencies, while gold prices fell.Light, sweet crude settled down 49 cents to settle at $62.73 a barrel on the New York Mercantile Exchange.For today, indian market is looking bullish and nifty above has small hurdle at 2740 and once it gets past that big hurdle is only at 2850.Below 2740, nifty will remain weak and lower level support is at 2590.Watch out the level of 2740 and even if nifty jumps above this and later hour if breaks this level, be cautious in longs as tomorrow is again a trading holiday.

Stock watch for the day:

Today's calls only for clients