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INTRADAY CALLS – 31/7/08

NIFTY JULY`08 FUTURE OPENED HIGHER AT 4242 WITH A BRIEF LOW AT 4237 RECOVERED ON SHORT COVERING  TO THE DAY`S HIGH OF 4339 AND CLOSED AT 4327. WE ADVISED NO SHORT`S ABOVE 4265 YESTERDAY AND AS EXPECTED THE NIFTY FUTURE RALLIED AROUND 80 POINTS ABOVE  4265. DOW JONES RALLIED FOR THE SECOND CONSECUTIVE DAY ON PVT JOB REPORTS DESPITE OIL TICKING UP BY OVER 4 US DOLLARS.  LOCALLY, AUTO COMPANIES ARE ALREADY FACING THE INCREASING PRESSURES ON MARGINS WITH HIKE IN INTEREST RATES, ALONG WITH REALTY COMPANIES  AND WE SEE A RANGE BOUND MOVEMENT IN THE NIFTY IN THE SHORT TERM.

NIFTY  SUPP LEVELS 4255, 4166 RESIST 4386, 4480. BEING THE LAST DAY OF THE SETTLEMENT NIFTY MAY SEE VOLATILE MOVEMENTS  THOUGH  IN  A SMALL BAND. FURTHER RISE IN CRUDE PRICE MAY AGAIN PUT PRESSURE ON THE MARKET SENTIMENTS. AVOID BUYING AT HIGHER LEVELS.

GMRINFRA SUPP 85,82 RESIST 90, 94 SELL AT HIGHER LEVEL

DLF SUPP 480,469 RESIST 505,515

IDFC SELL 95 SL 97 TGT 88

INDIACEM ABOVE 153 TGT 159

CAIRN SUPP 226,221 RESIST 241 ABOVE WHICH 248 IS POSSIBLE

RPL SUPP 161 SL 157 TGT 167,174 BUY

ZEEL SUPP 205,196 RESIST 214 SELL WITH SL 217

SATYAMCOMP SUPP 376,365 RESIST 386,394 SELL WITH SL 396 ABOVE WHICH MAY TOUCH 416

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