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INTRADAY CALLS – 04/08/08

AS SAID IN THIS COLOUMN YESTERDAY, NIFTY FUTURE OPENED LOWER AND TOOK SUPPORT ALMOST EXACTLY FROM THE LEVELS GIVEN BY US (4255) AND RALLIED TO DAY`S HIGH AT CLOSE ON THE FIRST ACTIVE DAY OF THE NEW SETTLEMENT. WITH GLOBAL MARKETS NONE TOO IMPRESSIVE WE MAY SEE A SUBDUED DAY AHEAD. MIXED JOBS REPORT ON FRIDAY LEFT DOW JONES MARGINALLY NEGATIVE AT 11326. WITH NIKKEI OPENING DOWN AND CRUDE STEADY WE MAY SEE A FLAT TO SLIGHTLY LOWER OPENING TO DAY.

NIFTY FUTURE ON FRIDAY OPENED LOWER AT 4270, BRIEFLY TOUCHED 4252, RALLIED TO THE DAY`S HIGH OF 4442 AND CLOSED AT 4439.

NIFTY FUTURE SUPP LEVELS 4309, 4255 RESIST 4480, 4530. BUY AT LOWER LEVELS WITH STRICT SL AS WE EXPECT THIS RALLY TO HOLD ON FOR A FEW DAYS. STILL, AS WE PRESUME IT TO BE A PULL BACK WE ADVISE CAUTION AT HIGHER LEVELS.

GMRINFRA SUPP 94,88 RESIST 103, 106

DLF SUPP 492, 487 RESIST 536 BUY AT LOW LEVEL

IDFC SELL 101 SL 104 TGT 94

CAIRN BUY 237 SL 235 TGT 245

INDIANB SELL 110 SL 112 TGT 98

RPL SUPP 165,162 RESIST 174 BUY

SATYAMCOMP SUPP 379, 374 RESIST 395 ABOVE WHICH MAY TOUCH 415.

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