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INTRADAY CALLS – 27/08/08

NOT MUCH VOLATILE AHEAD OF SETTLEMENT

 

DESPITE LOT OF ECONOMIC DATA DOW JONES MOVED IN BAND OF LESS THAN 100 POINTS, WITH LOWEST VOLUME SO FAR IN 2008. DOW JONES OPENED FLAT WENT DOWN BY 46 POINTS , GAINED 50 POINTS LATER ON THE BACK OF ENERGY STOCKS AND CLOSED AT 11412 WITH A NET GAIN OF 26 POINTS. NEW HOME SALES AT 515000 WAS LESSER THAN EXPECTATION, HOME PRICES DROPPED 15.9%,  EVEN THOUGH LARGEST ON RECORD, WAS BETTER THAN EXPECTED AND CRUDE RALLY ON HURRICANE CONCERNS  KEPT THE MARKET IN NARROW RANGE. FREDDIE, FANNIE AND LEHMAN GAINED MODERATELY ON NO FURTHER BAD NEWS. JAPAN`S NIKKEI TRADING NEGATIVELY AT THIS TIME .

NIFTY AUGUST FUTURE OPENED LOWER AT 4308,WENT DOEN TO 4290 AND RECOVERED TO 4360, TO CLOSE AT 4352.

NIFTY AUGUST FUTURE SUPP LEVELS 4252,4174 RESIST 4369,4409.  ANOTHER LACKLUSTURE DAY MAY BE IN THE OFFING, WITH ROLL OVER NOT PICKING UP. AVOID LONG BELOW 4250.

GMRINFRA SUPP 98 RESIST 104,107 SELL AT HIGHER LEVEL

BPCL SUPP 296,286 RESIST 309,318 SELL

BHARTIARTL SUPP 792,782 RESIST 816,828 BUY SL 789

ZEEL SUPP 207 RESIST 219,224 BUY AT LOW LEVEL

IDFC BUY 91 SL 88 TGT 98,103

INDIACEM  BUY 137 SL 135 TGT 145,149

CAIRN SUPP 238,232 RESIST 248,252

INDIANB SUPP 119 RESIST 126,130 BUY SL 117

RPL BUY 157 SL 155 TGT 165,169

WIPRO SUPP 424,417 RESIST 433,440 SELL

HINDALCO SUPP 129,127 RESIST 135,141 SELL

HINDUNILVR BUY 241 SL 239 TGT 249,254

SATYAMCOMP SUPP 397,388 RESIST 409,415 SELL

NTPC ABOVE 174 MAY TOUCH 180

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