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INTRADAY CALLS – 29/08/08

UPWARD REVISION IN THE SECOND QUARTER GDP GROWTH TO 3.3% FROM THE PREVIOUSLY REPORTED 1.9% , JOBLESS CLAIMS FALLING IN THE PREVIOUS WEEK BY 10000 TO 425000, CRUDE  EASING BELOW $116 FROM $ 120 AND OFCOURSE LOW VOLUMES, TOOK DOW  JONES TO THE DAY`S GAIN OF 212 POINTS AT 11715. WITH NOT MUCH OPTIMISM ATTACHED TO THE GROWTH IN SUBSEQUENT QUARTERS, RIDE THE RALLY TILL  IT LASTS. ASIAN MARKETS OPENED HIGHER AS EXPECTED AND NIKKEI IS +250 AT THIS TIME.

BACK HOME NOT MUCH OF CHEER YESTERDAY , THE CLOSING DAY OF AUG SETTLEMENT. NIFTY FUTURE OPENED AT 4292, FELL TO 4208 FROM THE HIGH OF 4302 AND CLOSED NEAR LOW AT 4218 LOSING AROUND 72 POINTS DURING THE DAY AND LSOING 114 POINTS FROM THE PREVIUS SETTLEMENT. ONLY SILVER LINING WAS AN IMPROVEMENT IN THE ROLL OVER POSITION ON THE LAST DAY.

NIFTY FUTURE SUPP LEVELS 4219,4174 RESIST 4300, 4360. NIFTY FUTURE IS EXPECTED TO OPEN HIGHER ON GLOBAL GAINS AND ON LOWER THAN EXPECTED INFLATION. INFLATION IS STILL THE BIGGEST WORRY AND MAY NOT COOL DOWN  IN THE NEAR FUTURE.  WE DO NOT EXPECT RUN AWAY RISE IN NIFTY AND WE EXPECT IT TO BE RANGE BOUND BETWEEN 4650 AND 3800 DURING THIS SETTLEMENT. AVOID LONG BELOW 4160. DO NOT JUMP TO BUY IF MARKET OPENS STEEPLY HIGHER.

GMRINFRA BUY 99 SL 97 TGT 104,107

BPCL BUY 278 SL 275 TGT 294

BHARTIARTL SUPP 806,793 RESIST 829,838 SELL

ZEEL SUPP 210,207 RESIST 218,223 BUY

IDFC SUPP 88 RESIST 96,99

INDIACEM SUPP  130,125 RESIST 145 SELL

CAIRN SUPP 247,242 RESIST 256,262 SELL AT HIGHER LEVEL

INDIANB BUY 119 SL 117 TGT 126

RPL  SUPP 154,150 RESIST 160,164 BUY AT LOWER LEVEL

WIPRO SUPP 406,392 RESIST 425 SELL AT HIGHER LEVEL

HINDUNILVR SUPP 239,235 RESIST 248

ICICIBANK SUPP 634,626 RESIST 652,667 SELL AT HIGHER LEVEL

RELIANCE SUPP 2042 RESIST 2150,2196 SELL AT HIGHER LEVEL

SATYAMCOMP SUPP 403,398 RESIST 417, 427 SELL

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in

INTRADAY CALLS – 28/08/08

LOW ROLL OVER AND LIQUIDITY – CAUSE FOR WORRY?

 

DOW JONES OPENED FLAT , MOVED LOWER BY 30 POINTS IMMEDIATLEY, RECOVERED SMARTLY TO THE DAY`S HIGH AT 11554, GAINING 142 POINTS AND CLOSED  AT 11502 SHEDDING SOME OF THE GAINS , ON THIN VOLUMES FOR THE THIRD DAY.  DURABLE GOODS  ROSE 1.3% MONTH OVER MONTH IN JULY BEATING EXPECTATION. TROPICAL STORM GUSTAV DEVELOPING IN TO A HURRICANE PULLED THE CRUDE PRICES SMARTLY TO $118 AND PUT THE BRAKES ON GAINING INDEX. HOWEVER FINANCIALS SAVED THE DAY. NIKKEI, AFTER OPENING HIGHER , TRADING MARGINALLY NEGATIVE AT THIS TIME.

NIFTY FUTURE  FELL FROM WHERE IT CLOSED ON 27.8.08. AFTER TRADING FLAT MOST OF THE DAY FELL TO THE DAY`S LOW OF 4281 ABD CLOSED AT 4290 LOSING 62 POINTS FROM PREVIOUS CLOSE ON MUCH LOWER VOLUMES. 

NIFTY AUGUST FUTURE SUPP LEVELS 4279,4252,4174 RESIST 4365,4409.DEPLETING VOLUMES INDICATE LOW APPETITE FOR CARYYOVER AND A CAUSE FOR CONCERN. LIQUIDITY IS DRAINING IN MOST OF THE STOCK FUTURES. ADDITIONAL 39 STOCKS INCLUDED IN THE DERIVATIVE SEGMENT DONOT HELP EITHER AS MOST OF THEM ARE HIGHLY ILLIQUID IN CASH MARKET. WE MAY ONCE AGAIN SEE A RANGE BOUND DAY AND VOLUME OF CARRY OVER MAY DECIDE THE SHORT TERM TREND. INFLATION AND CRUDE PRICE MAY INDUCE SOME MOVEMENTS. AVOID LONGS BELOW 4250.

GMRINFRA SUPP 98,93 RESIST 104,107 SELL AT HIGHER LEVEL

BPCL SUPP 293,287 RESIST 303,307 SELL

BHARTIARTL SUPP 792 RESIST 816,828 BUY SL 789

DLF SUPP 472,465 RESIST 491,502 SELL AT HIGHER LEVEL

ZEEL SUPP 211,207 RESIST 218,224 BUY AT LOWER LEVEL

IDFC SUPP 91,88 RESIST 96,99 BUY AT LOWER LEVEL

CAIRN SUPP 239 RESIST 248 BUY

INDIANB SUPP 119 RESIST 126,130 BUY SL 117

WIPRO SUPP 424,417 RESIST 434,440 SELL AT HIGHER LEVEL

HINDALCO SUPP 130 RESIST 141 SELL

HINDUNILVR BUY 242 SL 240 TGT 249,254

INFOSYSTCH SUPP 1690,1671 RESIST 1728,1742 SELL AT HIGHER LEVEL

RELIANCE SUPP 2140,2118 RESIST 2185,2205 SELL

SATYAMCOMP SUPP 398,388 RESIST 409,416 SELL

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in

INTRADAY CALLS – 27/08/08

NOT MUCH VOLATILE AHEAD OF SETTLEMENT

 

DESPITE LOT OF ECONOMIC DATA DOW JONES MOVED IN BAND OF LESS THAN 100 POINTS, WITH LOWEST VOLUME SO FAR IN 2008. DOW JONES OPENED FLAT WENT DOWN BY 46 POINTS , GAINED 50 POINTS LATER ON THE BACK OF ENERGY STOCKS AND CLOSED AT 11412 WITH A NET GAIN OF 26 POINTS. NEW HOME SALES AT 515000 WAS LESSER THAN EXPECTATION, HOME PRICES DROPPED 15.9%,  EVEN THOUGH LARGEST ON RECORD, WAS BETTER THAN EXPECTED AND CRUDE RALLY ON HURRICANE CONCERNS  KEPT THE MARKET IN NARROW RANGE. FREDDIE, FANNIE AND LEHMAN GAINED MODERATELY ON NO FURTHER BAD NEWS. JAPAN`S NIKKEI TRADING NEGATIVELY AT THIS TIME .

NIFTY AUGUST FUTURE OPENED LOWER AT 4308,WENT DOEN TO 4290 AND RECOVERED TO 4360, TO CLOSE AT 4352.

NIFTY AUGUST FUTURE SUPP LEVELS 4252,4174 RESIST 4369,4409.  ANOTHER LACKLUSTURE DAY MAY BE IN THE OFFING, WITH ROLL OVER NOT PICKING UP. AVOID LONG BELOW 4250.

GMRINFRA SUPP 98 RESIST 104,107 SELL AT HIGHER LEVEL

BPCL SUPP 296,286 RESIST 309,318 SELL

BHARTIARTL SUPP 792,782 RESIST 816,828 BUY SL 789

ZEEL SUPP 207 RESIST 219,224 BUY AT LOW LEVEL

IDFC BUY 91 SL 88 TGT 98,103

INDIACEM  BUY 137 SL 135 TGT 145,149

CAIRN SUPP 238,232 RESIST 248,252

INDIANB SUPP 119 RESIST 126,130 BUY SL 117

RPL BUY 157 SL 155 TGT 165,169

WIPRO SUPP 424,417 RESIST 433,440 SELL

HINDALCO SUPP 129,127 RESIST 135,141 SELL

HINDUNILVR BUY 241 SL 239 TGT 249,254

SATYAMCOMP SUPP 397,388 RESIST 409,415 SELL

NTPC ABOVE 174 MAY TOUCH 180

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in

INTRADAY CALLS – 26/08/08

GLOBAL PAINS – LOWER OPENING  AHEAD

 

 DOW JONES ONCE AGAIN SURRENDERED ITS FRIDAY`S  GAIN AND ENDED WITH MORE LOSSES.   DOW NEVER LOOKED UP FROM THE OPENING , FELL TO THE DAY`S LOW OF  11365 AND CLOSED JUST ABOVE THE LOW AT 11386, LOSING AROUND 242 POINTS ON LOWER VOLUME. THE BAD NEWS ALTERNATE AMONG HOUSING, FINANCIAL AND CRUDE REGULARLY. THIS TIME IT IS  MIXED SIGNALS FROM  EXISTING HOME SALES WHERE UNSOLD INVENTORY, HIGHEST SINCE  1999 IS A CAUSE FOR CONCERN.  KOREAN REGULATORS ADVISING CAUTION AGAINST TAKING OVER LEHMAN BROS AND AIG EXPECTED TO POST THIRD QUARTER LOSSES ADDED TO THE  MISERY. ASIAN MARKETS ARE TRADING LOWER AT THIS TIME.

WE ARE ONE OF THE VERY FEW WHO WERE CLEAR ABOUT MARKET CORRECTING FROM HIGHER LEVELS YESTERDAY, WHILE MANY PREDICTED 300 TO 500 POINTS GAIN IN THE SENSEX. NIFTY FUTURE CLOSED ALMOST FLAT.  AFTER OPENING HIGHER AT 4386,WITH DAY`S HIGH AT 4395 NIFTY FUTURE CORRECTED IN THE SECOND HALF SHARPLY TO THE DAY`S LOW OF 4330 AND CLOSED AT 4336.

NIFTY SUPP LEVELS 4331,4252 RESIST 4409, 4462. WE EXPECT NIFTY FUTURE TO OPEN LOWER FOLLOWING THE GLOBAL TRENDS AND MAY TAKE SUPPORT AROUND 4250, BUT A BREAK BELOW WHICH MAY TAKE NIFTY TO 4174 LEVELS. EXIT LONG IF IT CLOSES BELOW 4250.

GMRINFRA SUPP 98,93 RESIST 104,107 BUY AT LOWER LEVEL

BPCL SUPP 297,286 RESIST 308 BUY AT LOWER LEVEL

BHARTIARTL SUPP 808,792 RESIST 828 BUY AT LOWER LEVEL

DLF BELOW 487 TGT 472

ZEEL SUPP 215,207 RESIST  223,230 SELL AT HIGHER LEVEL

IDFC SUPP 88,83 RESIST 98,103 SELL

INDIACEM BUY 137 SL 135 TGT 145

CAIRN SUPP 243,237 RESIST 248,252 SELL AT HIGHER LEVEL

INDIANB BUY 120 SL 117 TGT 126,130

RPOWER BELOW 150 TGT 137

WIPRO SUPP 417,413 RESIST 432 SELL

HINDALCO SUPP 127 RESIST 135,141 SELL

SATYAMCOMP SUPP 388,383 RESIST 398,408 SELL

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in

INTRADAY CALLS – 25/08/08

GLOBAL INDEXES GAIN – WILL WE FOLLOW?

 

DOW JONES  ON FRIDAY NEVER LOOKED BACK FROM THE OPENING AND RALLIED TO THE DAY`S HIGH OF  11632, AND CLOSED AT 11628 GAINING 198 POINTS IN THE DAY, LIMITING THE WEEKLY LOSS TO AROUND .3%.  THE GAIN WAS ON THE BACK OF LEHMAN BROS FINDING SOME TAKERS IN KOREA DEVELOPMENT BANK, CRUDE SHEDDING $5 AND FED CHARIMAN BERNAKE`S SPPECH ON INFLATION. HOWEVER BRIGHT THINGS END THERE. FRIDAY`S GAIN WAS ON RELATIVELY LOWER VOLUMES IS A WORRY. UN ENDING ECONOMIC NEWS(WOES) SCHEDULED FOR THE NEXT WEEK LIKE  HOME  PRICES INDEX, NEW HOME SALES, DURABLE GOODS ORDERS,  REVISED ESTIMATE OF SECOND QUARTER GROWTH ETC. THE INEVITABLE DECISION OF U.S. TREASURY BAILING OUT FANNIE AND FREDDIE MAY NOT AUGUR WELL FOR THE MARKETS. ASIAN MARKETS OPENED HIGHER ON THE BACK OF U.S. GAINS.

NIFTY FUTURE ON FRIDAY OPENED AT 4265 AND TOOK SUPPORT FROM 4252 (THE SUPPORT MENTIONED IN THIS COLOUMN) RECOVERED TO THE DAY`S HIGH OF 4338 AND CLOSED AT 4329.

NIFTY FUTURE SUPP LEVELS 4252, 4174 RESIST 4378, 4409, 4462. NIFTY MAY OPEN HIGHER ON GLOBAL CUES. HOWEVER WE ARE NOT POSITIVE ABOUT THE STRENGTH OF NIFTY AT HIGHER LEVEL. BOOK PROFITS IF NIFTY OPENS SHARPLY HIGHER ON SHORT COVERING. THIS TYPE OF VOLATILITY ON DAILY BASIS MAY INFLICT  HEAVY LOSSES ON UN HEDGED POSITIONS. AVOID SHORTS IF NIFTY STAYS ABOVE 4470.

GMRINFRA SUPP 98,93 RESIST 104, 107 SELL AT HIGHER LEVELS

BPCL SUPP 286,279 RESIST 297, 309

BHARTIARTL SUPP 790 RESIST 817,829

ZEEL SUPP 205,201 RESIST 212,217 SELL AT HIGHER LEVEL

IDFC SUPP 88,83 RESIST 99, 103 SELL

INDIACEM BUY 137 SL 135 TGT 145,148

CAIRN SUPP 243,237 RESIST 252 SELL WITH SL 254

INDIANB BUY 113 SL 110 TGT 118,125

WIPRO SUPP 413,408 RESIST 424,432 SELL AT HIGHER LEVEL

HINDALCO SUPP 127, 123 RESIST 135,141 SELL

INFOSYSTCH SUPP 1671,1660 RESIST 1711,1725

SATYAMCOMP SUPP 380,374 RESIST  398,408 SELL

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in