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INTRADAY CALLS – 21/08/08

DOW JONES AFTER OPENING FLAT MOVED DOWN BY 58 POINTS IN HTE OPENING HOURS AND REVERSED SMARTLY TO TRIPLE DIGIT GAINS, BUT CLOSED WITH A GAIN OF ABOUT 69 POINTS AT 11417.  HOUSING MORTGAGE GIANTS FANNIE AND FREDDIE CONTINUE TO BLEED  BY 20% DURING THE DAY  AND HAS LOST MORE THAN 80%  IN THE LAST THREE MONTHS TO NEW YEARLY LOWS, ON CONCERN THAT A TREASURY BAIL OUT IS IMMINENT. CRUDE INVENTORY THAT ROSE TO A SEVEN YEAR HIGH  AND BETTER THAN EXPECTED RESULT AND GUIDANCE FROM HP SAVED THE DAY FOR THE INDEX. ASIAN MARKETS TRADE FLAT TO NEGATIVE  WITH NIKKEI DOWN ON GLOBAL FINANCIAL WORRIES. CRUDE RECOVERING TO $116 MAY KEEP THE MARKETS SUBDUED.

NIFTY FUTURE OPENED HIGHER YESTERDAY AT 4420 AND WAS RANGE BOUND BETWEEN 4396 AND 4455 AND CLOSED NEAR DAY`S HIGH 4442.

NIFTY FUTURE SUPP LEVELS 4385,4335,4309 RESIST 4462,4511. WE EXPECT A RANGE BOUND  MOVEMENT IN THE NIFTY IN SHORT TERM.  A CLOSE ABOVE 4510 MAY IMPART SOME STRENGTH. AVOID LONGS BELOW 4330.

GMRINFRA SUPP 102,99 RESIST 107,113 SELL AT HIGHER LEVEL

BPCL  SUPP 311, 307 RESIST 318, 322  BUY AT LOWER LEVEL

BHARTIARTL SUPP  802, 790 RESIST 835 BUY

DLF ABOVE 519 MAY TOUCH 549

ZEEL BUY 207 SL 205 TGT 217

IDFC SUPP  93 RESIST 99,103 SELL AT HIGHER LEVEL

INDIACEM SUPP 142,139 RESIST 149,153 BUY

CAIRN SUPP 236 RESIST 245,250 SELL AT HIGHER LEVEL

INDIANB BUY 111 SL 108 TGT 118

WIPRO SUPP 428,424 RESIST 441,446 BUY

HINDUNILVR SUPP 238 RESIST 249

SATYAMCOMP SUPP  398,392 RESIST 410,416 BUY

MARUTI ABOVE 635 MAY TOCUH 652

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