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INTRADAY CALLS – 26/08/08

GLOBAL PAINS – LOWER OPENING  AHEAD

 

 DOW JONES ONCE AGAIN SURRENDERED ITS FRIDAY`S  GAIN AND ENDED WITH MORE LOSSES.   DOW NEVER LOOKED UP FROM THE OPENING , FELL TO THE DAY`S LOW OF  11365 AND CLOSED JUST ABOVE THE LOW AT 11386, LOSING AROUND 242 POINTS ON LOWER VOLUME. THE BAD NEWS ALTERNATE AMONG HOUSING, FINANCIAL AND CRUDE REGULARLY. THIS TIME IT IS  MIXED SIGNALS FROM  EXISTING HOME SALES WHERE UNSOLD INVENTORY, HIGHEST SINCE  1999 IS A CAUSE FOR CONCERN.  KOREAN REGULATORS ADVISING CAUTION AGAINST TAKING OVER LEHMAN BROS AND AIG EXPECTED TO POST THIRD QUARTER LOSSES ADDED TO THE  MISERY. ASIAN MARKETS ARE TRADING LOWER AT THIS TIME.

WE ARE ONE OF THE VERY FEW WHO WERE CLEAR ABOUT MARKET CORRECTING FROM HIGHER LEVELS YESTERDAY, WHILE MANY PREDICTED 300 TO 500 POINTS GAIN IN THE SENSEX. NIFTY FUTURE CLOSED ALMOST FLAT.  AFTER OPENING HIGHER AT 4386,WITH DAY`S HIGH AT 4395 NIFTY FUTURE CORRECTED IN THE SECOND HALF SHARPLY TO THE DAY`S LOW OF 4330 AND CLOSED AT 4336.

NIFTY SUPP LEVELS 4331,4252 RESIST 4409, 4462. WE EXPECT NIFTY FUTURE TO OPEN LOWER FOLLOWING THE GLOBAL TRENDS AND MAY TAKE SUPPORT AROUND 4250, BUT A BREAK BELOW WHICH MAY TAKE NIFTY TO 4174 LEVELS. EXIT LONG IF IT CLOSES BELOW 4250.

GMRINFRA SUPP 98,93 RESIST 104,107 BUY AT LOWER LEVEL

BPCL SUPP 297,286 RESIST 308 BUY AT LOWER LEVEL

BHARTIARTL SUPP 808,792 RESIST 828 BUY AT LOWER LEVEL

DLF BELOW 487 TGT 472

ZEEL SUPP 215,207 RESIST  223,230 SELL AT HIGHER LEVEL

IDFC SUPP 88,83 RESIST 98,103 SELL

INDIACEM BUY 137 SL 135 TGT 145

CAIRN SUPP 243,237 RESIST 248,252 SELL AT HIGHER LEVEL

INDIANB BUY 120 SL 117 TGT 126,130

RPOWER BELOW 150 TGT 137

WIPRO SUPP 417,413 RESIST 432 SELL

HINDALCO SUPP 127 RESIST 135,141 SELL

SATYAMCOMP SUPP 388,383 RESIST 398,408 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