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INTRADAY CALLS – 05/08/08

NIFTY FUTURE YESTERDAY WAS LACKLUSTURE WITH SUBDUED MOVEMENTS  AND CLOSED MARGINALLY LOWER. INDECISVENESS AHEAD OF FED MEETING, THE DOW JONES MOVED IN A BAND OF 160 POINTS AND CLOSED 42 POINTS LOWER AT 11284 NOT FAR AWAY FROM YEARLY LOW. EDUOARD, THE TROPICAL STORM, FOR A CHANGE BROUGHT THE OIL PRICES DOWN, TEMPORARILY TO AROUND $120 BUT DID NOT CHANGE THE TREND OF DOW JONES DURING THE DAY. DESPITE THE EXPECTED VOLATILE MOVEMENTS AFTER THE FED MEETING  DOW JONES IS NOT OUT OF THE WOODS .

NIFTY FUTURE ON MONDAY OPENED LOWER AT 4402 AND WAS RANGE BOUND BETWEEN 4448 AND 4362 AND CLOSED AT 4400.

NIFTY FUTURES SUPP LEVELS 4370, 4309 RESIST 4450,4480. IF NIFTY HOLDS ABOVE 4300 FOR TWO DAYS WE MAY SEE A RALLY OF AROUND 250 POINTS IN THE NIFTY. AVOID SHORT ABOVE 4450.

GMRINFRA SUPP 99,94 RESIST 106,109 SELL WITH SL 110

BPCL BUY 326 SL 323 TGT 337, 355

ZEEL SUPP 198,194 RESIST 207,213 BUY

IDFC SELL 101 SL 103 TGT 94

CAIRN SELL  246 SL 249 TGT 237

INDIANB BUY 103 SL 102 TGT 109

RPL  SUPP 170,164 RESIST 179 BUY

WIPRO SUPP 426,415 RESIST 438 SELL

HINDUNILVR SUPP 230 RESIST 238

ONGC SELL 1003 SL 1008 TGT 976,955

RELIANCE BELOW 2245 MAY TOUCH 2185

SATYAMCOMP SUPP 391,378 RESIST 402,416 BUY

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