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INTRADAY CALLS – 25/07/08

NIFTY FUTURE ON  24/07/08 MOVED ALMOST EXACTLY BETWEEN THE SUPPORT AND RESISTANCE LEVEL MENTIONED IN THIS COLUMN YESTERDAY. NIFTY FUTURE OPENED AT 4520, BRIEFLY TOUCHED  4538, FELL TO THE DAY`S LOW OF 4395 AND CLOSED AT 4445. WITH JUST FIVE DAYS TO GO FOR THE SETTLEMENT, NIFTY  JULY`08 FUTURE  WAS SWINGING WIDELY BETWEEN THE SETTLEMENT LOW AND HIGH OF 3761 AND 4538,ALMOST 777 POINTS IN THE LAST 25 TRADING DAYS.  AND WE MAY HAVE SOME MORE FIRE WORKS BEFORE IT ENDS.  TECH STOCKS LOOK WEAKER AND MAY GO DOWN FURTHER.

NIFTY FUTURE SUPP LEVELS 4390,4275 RESIST 4480,4530. NIFTY MAY OPEN LOWER ON  U.SS.  FINANCIAL MARKETS WORRIES. OUT LOOK FOR U.S. MARKETS ARE NOT POSITIVE  AT LEAST FOR ONE MORE YEAR.  LOCALLY, WE MAY HAVE SOME NEGATIVE NEWS FOR THE MARKETS IN THE COMING DAYS, ABOUT WHICH WE WILL DISCUSS LATER.  FOR THE DAY AVOID LONG BELOW 4380 AND WAIT FOR A BOUNCE BACK. SPECIFIC STOCK CALLS WILL BE GIVEN SHORTLY.

ALL TRADES SHOULD BE DONE WITH STRICT STOP LOSS.
NEVER CARRY A POSITION WITHOUT HEDGING HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in