Market Outlook 21/10/08

Positive global cues to guide indian market

It was a very very volatile trading on positive side yesterday with nifty making a high of 3238 and closing around 3100 level.On global front, there are more positive signs which will help indian market for sure.Bank-to-Bank lending rates eased further showing the easing of credit markets which were of main concerna dn DOW reacted positively yesterday by moving above 400 points.The credit markets were gradually responding to the series of bailout measures by governments around the world, including a joint U.S. and European plan to buy stakes in private banks to boost their lending.The Dow Jones industrial average rose 413.21 to 9,265.43.Light, sweet crude rose $2.40 to settle at $74.25 a barrel on the New York Mercantile Exchange.On indian market, yesterday's RBI's announcement to cut Repo rates by 100 bps to 8% with immediate effect is a positive for market and also RBI will announce its half-yearly credit policy on Friday, another rate cut is possible.For today, if nifty moves above 3145 it may directly test resistance at 3240 and if nifty crosses 3240 it may shoot upto 3300-3340 also today.On downside, 3100 is one support for nifty and if breaks 3100, then 3060 is super strong support for today.

Stock watch for the day:

RCom(231): Buy this stock with stop loss 225 for target 245-255.Below 226 it is not a buy.

Intraday Call Performance 20/10/08

High volatile market ending positive

Though market opened positive and went above 3100 in opening bell, trading was very volatile and first hour saw tremendous volatility and afternoon session invited heavy buying that took nifty to make a high of 3238.Market major Reliance Industries took the initiative to lift the market above 3200 today.RBI's announcement to cut Repo rates by 100 bps to 8% with immediate effect and also positive European and Asian markets had positive effects for the market sentiments today.Nifty closed at 3122, up 48 points.Realty and power stocks witnessed some selling pressure. Top gainers on Sensex included the four IT heavyweights, along with HDFC Bank, ICICI Bank, Bharti Airtel and ITC. Sensex losers were BHEL, Grasim and DLF, among others.Higher levels were exerting pressure today also.

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3140 with stop loss 3128 for target 3175 and it made 3159 and then hit the stop loss

Short Nifty Futures around 3170 with stop loss 3185 for target 3120 and it made 3144

Buy Nifty Futures around 3130 with stop loss 3110 for target 3180 and it made 3168

Short Reliance around 1290 with stop loss 1302 and it made just 1282 and then hit the stop loss

Short L&T around 798-800 with stop loss 805 for target 765 and it hit the small stop loss

Short HDIL around 129 with stop loss 131 for target 123 and it made just 126.5 and then hit the stop loss

Short Reliance Infra around 498-500 with stop loss 506 and it hit the stop loss

Buy Reliance at 1335 with stop loss 1320 for target 1365-1380 and it made 1380

Buy ICICI Bank around 410 with stop loss 402 and it made 417

Buy Reliance Capital around 638 with stop loss 630 for target 660 and it made 653

Market Outlook 20/10/08

Markets are about to move up now !!

It was a fearfull fall for indian market where nifty went near 3000 levels on friday.Now the global scenario has to help in lifting the market from here on.The Dow Jones industrial average lost 127.04 points on Friday to close at 8,852.22, after falling 261 points in the early going and rising 302 points - a 563-point range.The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude rose $2 to settle at $71.85 a barrel on the New York Mercantile Exchange.Only positive signs was volatility was not severe like in the past days and signs of market settling down is evident.Credit markets are showing signs of revival and will be interesting in coming day's and also market all over the world are over sold.In indian market, nifty has great support at 3000 and above that it will move towards 3100 resistance and if fails to cross 3100, then chances of testing 3000 is on again and break of 3000 will definitely take into one more support area at 2945-which will be held for sure.On upper side if nifty moves past 3100, then buying will come in to take nifty towards 3165-3200 level.If there is lower opening near the supports, don't go for selling as buying or solid recovery is expected from lower levels today.Panic is only if nifty breaks 2945 support, otherwise big upmove expected.

Stock watch for the day:

Today's calls only for clients

Intraday call performance 17/10/08

Market crashing from high again and closing in red !

Though market opened positive by opening above 3300 as expected, it couldn't sustain at higher leevls and below 3330 crucial resistance it started coming down heavily without even touching 3330 again to make a low of 3046 breaking straong support of 3100 and then closed at 3074, down 194 points from the previous close.Realty, power, metal, telecom, capital goods, oil, banking and technology stocks took heavy hitting today.Asian markets also crashed today.Reliance Industries took the initiative in breaking down the market heavily today.It was a scary fall in the market in closing day of the week.The market breadth was negative with advances at 268 against declines of 988 on the NSE. Top Nifty gainers included BPCL and HCL Technologies while losers included Reliance Industries, Suzlon, Unitech, DLF and Siemens.

Stock watch for the day:

Reliance Infra: This was given a buy call above 566 for target 585 and it made a high of 582

Following calls were given in yahoo messenger for clients:

Clients enjoyed good profit today

Short Nifty Futures around 3310 with stop loss 3325 for target 3250 and told to cover full position at 3250....SUPER DUPER PROFIT

Short Suzlon around 96.5 with stop loss 97.4 for target 93-89 and it made 85....SUPER DUPER PROFIT

Buy Reliance Infra around 545 with stop loss 534 and stop loss hit

Buy DLF around 319 with stop loss 314.9 and then gave cover at 320-321

Short SBI around 1502 with stop loss 1510 and it just made 1494 and stop loss hit

Short Reliance Industries at 1392 with stop loss 1404 for target 1355-1300 and it made 1287....SUPER DUPER PROFIT

Market Outlook 17/10/08

Market looking good for upmove !

It was a drastic day in indian market yesterday as nifty crashed right till the strongest support of 3100 and then bounced back.On global market today, things are positive and indian market also might take these positive cues.The Dow Jones industrial rose 401.35 to 8,979.26, showing an 816-point swing from its low to its high of the session and displayed a Very very volatile trading yesterday.The Dow changed directions 75 times in Thursday's session.Credit markets are performing better this weak than last week because of the government rescue steps and since things are not yet settled properly, volatility is expected to continue in the market and the past 10 day's has seen severe movements in the market.The sweet crude fell $4.69 to settle at $69.85 a barrel on the New York Mercantile Exchange, the lowest settlement price since Aug. 23, 2007.The dollar rose against other major currencies.In indian market, nifty has strong resistance at 3330 for today and if able to cross that then it will make moves to 3400 straight.On downside if nifty breaks 3220-strong support for today, it may test 3165 support.If there is gap up opening near 3330 and unable to cross 3330, some selling might come for sure.

Stock watch for the day:

Reliance Infra (558): Catch this stock above 566 with stop loss 550 for target 585-600

Intraday Call Performance 16/10/08

Indian market crashing and closing weak

It was a terrible day for indian market as market opened in deep red below 3200 and made a low of 3099.Asian and European markets also had free fall today which also effected indian market.Though recovery came in late afternoon lifting nifty above 3300 again, it couldn't sustain at higher levels and slipped and closed weak at 3269, down 69 points from previous close.Huge sell off was seen in oil, capital goods, technology, auto and power stocks.Though RBI measures were positive, global weekness was too much to handle for indian market and also the inflation numbers which came out at 11.44% lower than last time around couldn't help indian market in any way.Select banking and financial stocks also recovered on hopes that further steps will be taken to increase liquidity in banking system.The Sensex and Nifty tested new-2008 lows in today's trade. The market breadth was negative with advances at 366 against declines of 899 on the NSE. Top Nifty gainers included Reliance Communications, DLF and Unitech while losers included Nalco, Hindalco and Suzlon.

Following calls were given in yahoo messenger for clients:

Huge profits for all my clients today

Short Nifty Futures around 3205 with stop loss 3220 for target 3160 and when it made 3130, told to cover the full position....HUGE PROFIT

Short Sail around 100 with stop loss 101.2 for target 95 and it made 96....GOOD PROFIT

Short Unitec around 81 with stop loss 82.2 for target 75 and it made 77....GOOD PROFIT

Short Reliance Infra around 550-555 with stop loss 566 for target 520 and it made 500....HUGE PROFIT

Buy SBI around 1420 with stop loss 1410 for target 1465-1490 and it made 1559....HUGE PROFIT

Market Outlook 16/10/08

Global market melt down again..!!

It was a drastic fall in indian market yesterday as nifty went for selling right from the opening and halted around 3300 support area which is likely to be broken in the opening bell today.Reserve Bank of India on Wednesday cut CRR (cash reserve ratio) by 100 basis points, or 1 per cent.This CRR cut will infuse Rs 40,000 crore (Rs 400 billion) into banking system.The RBI also increased interest rates on Non-Resident deposit schemes by 50 basis points, or 0.5 per cent.Though these measures are positive for indian market, global melt down may effect its sentiments today.On global scenario, The Dow ended down 733.08 at 8,577.91 after the government's report that retail sales plunged in September by 1.2 percent -- almost double the 0.7 percent analysts expected.Big U.S. banks started falling in line Tuesday behind the rejiggered bailout plan.Even though government came out in bailing out financial sectors, economy slow down seems to be continuing.The credit markets have been showing tentative signs of recovery, though they remain strained.Light, sweet crude fell $4.09 to settle at $74.54 per barrel on the New York Mercantile Exchange.In indian market, one can expect gap down opening today and below 3300, nifty will remain weak only.Downside supports below 3300 will be at 3265 and below that 3200 and 3160 will be the strong support.On upperside above 3300, nifty will face resistance at 3380-where heavy selling is expected.Onle above 3380, things will turn positive.If there is gap down opening, watch out for first support at 3265 and if not broken, buying might come from there.

Stock watch for the day:

Today's calls only for clients