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INTRADAY CALLS – 06/08/08

FED KEPT RATES UNCHANGED AND THE WORDINGS ABOUT INFLATION AND GROWTH ALSO REMAINS ALMOST UNCHANGED, BUT WHAT CHANGED WAS THE SENTIMENT AT WALL STREET AND IT WAS HIGHER EVEN BEFORE THE FED ANNOUNCEMENT, THANKS TO FALLING CRUDE , AND DOW JONES CLOSED AT 11615 AT DAYS HIGH GAINING 331 POINTS THE LARGEST GAIN IN FOUR MONTHS.

YESTERDAY NIFTY FUTURES OPENED AT 4380 AND TOOK SUPPORT EXACTLY AT OUR SUPP LEVEL OF 4370 AND RALLIED TO THE DAYS HIGH OF 4540 AND CLOSED AT 4536. AT LEAST THREE OF OUR SHORT CALLS WOULD HAVE TRIGGERED STOP LOSS IF YOU HAD NOT CLOSED YOUR SHORT POSITIONS ABOVE  4450. WHEN WE SAY AVOID SHORT ABOVE 4450, IT NOT ONLY MEANS NIFTY, BUT ALSO ANY SHORT POSITION IN THE STOCKS TOO, BECAUSE TRADING AGAINST THE DAY`S TREND IS NOT ADVISABLE FOR DAY TRADERS.  HEDGED TRADING HOWEVER TAKES CARE OF SUCH SITUATIONS, BUT EVEN THERE ALSO IF A SIGNIFICANT MOVEMENT AGAINST ONE`S POSITION IS EXPECTED IT IS ADVISABLE TO CLOSED AND RE ENTER.

NIFTY FUTURE SUPP LEVELS 4408,4370 RESIST 4540, 4655. 4728 NIFTY MAY OPEN HIGHER ON GLOBAL CUES AND IF IT OPENS WITH A BIG GAP IT MAY NOT BE POSSIBLE FOR DAY TRADES. WAIT FOR THE MARKET TO STABILISE TO TAKE POSITIONS. ANY REVERSAL IN CRUDE PRICE MAY MAR THE SENTIMENTS IN THE MARKETS. WE ADVISE BOOKING PROFIT IN BANKING STOCKS AT HIGHER LEVELS,  EVEN AS PVT BANKS GAIN ON THE HOPE OF BANKING AND INSURANCE BILLS BEING PASSED IN THIS SESSION.

GMRINFRA SUPP  101,99 RESIST109,115 SELL AT HIGHER LEVEL

BPCL SUPP 332,326 RESIST  355 BUY

ZEEL SUPP 202,198 RESIST 214 BUY AT LOWER LEVEL

GDL ABOVE 96 TGT 102

IDFC SUPP 100,96 RESIST 106,111

CAIRN SUPP 229,223 RESIST  239,246 BUY AT LOWER LEVEL

INDIANB SUPP 112 RESIST 123,128,131 SELL AT HIGHER LEVEL

RPL SUPP 170,164 RESIST 179 BOOK PROFIT

WIPRO SUPP 432 RESIST 457,469 SELL AT HIGHER LEVEL

SATYAMCOMP SUPP391,378 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