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INTRADAY CALLS – 11/08/08

CRUDE  WAS KIND ON FRIDAY AND IT HELPED DOW JONES VAULT TO A 302 POINT GAIN  TO CLOSE AT 11734, ALMOST NEAR THE DAY`S HIGH OF 11760. DOW JONES IS DELICATELY POISED AND STRONG CLOSE ABOVE 11800 MAY TAKE IT TO THE NEXT LEVELS OF  AROUND 12000 AND12400.  HOWEVER, DATA ON CONSUMER SPENDING, TO BE ANNOUNCED NEXT WEEK MAY BRING IN NEGATIVE SURPRISES.

NIFTY FUTURE ON FRIDAY OPENED FLAT AT 4520 AND WAS INDECISIVE BETWEEN 4471 AND 4565 AND CLOSED AT 4548.

NIFTY FUTURE SUPP LEVELS 4460, 4408 RESIST 4555, 4592, 4655. FOLLOWING U.S. MARKETS, OTHER ASIAN MARKETS OPENED HIGHER AND WE MAY ALSO SEE A HIGHER OPENING. AS WE HAVE BEEN SAYING FOR THE LAST FOUR DAYS THIS UPTREND MAY LAST A WHILE AND WE ADVISE CAUTION AT HIGHER LEVELS ESPECIALLY FOR DAY TRADERS. ANY BIG GAP UP OPENING NORMALLY MAKES DAY TRADING DIFFICULT. BE SELECTIVE AND WAIT FOR THE LEVELS TO TRADE.

GMRINFRA SUPP 98 RESIST 104,110 SELL AT HIGHER LEVEL

BPCL SUPP 315,307 RESIST 325,335

BHARTIARTL SUPP 830,815 RESIST 850,861 SELL AT HIGHER LEVEL

ZEEL SUPP 201,197 RESIST 208,214 BUY AT LOWER LEVEL

GDL BUY 94 SL 92 TGT 100,103

IDFC  SUPP  100 RESIST 106,112 SELL

INDIACEM SELL 169 SL 171 TGT 160,156

CAIRN SUPP 233,228 RESIST 242,249 BUYAT LOWER LEVEL

INDIANB BUY 113 SL 110 TGT 119,126

RPL SUPP 162,158 RESIST 169,173 BUY

WIPRO SUPP 431 RESIST 448,462 SELL

SATYAMCOMP SUPP 405,393 RESIST 415,420 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