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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

INTRADAY CALLS – 25/08/08

GLOBAL INDEXES GAIN – WILL WE FOLLOW?

 

DOW JONES  ON FRIDAY NEVER LOOKED BACK FROM THE OPENING AND RALLIED TO THE DAY`S HIGH OF  11632, AND CLOSED AT 11628 GAINING 198 POINTS IN THE DAY, LIMITING THE WEEKLY LOSS TO AROUND .3%.  THE GAIN WAS ON THE BACK OF LEHMAN BROS FINDING SOME TAKERS IN KOREA DEVELOPMENT BANK, CRUDE SHEDDING $5 AND FED CHARIMAN BERNAKE`S SPPECH ON INFLATION. HOWEVER BRIGHT THINGS END THERE. FRIDAY`S GAIN WAS ON RELATIVELY LOWER VOLUMES IS A WORRY. UN ENDING ECONOMIC NEWS(WOES) SCHEDULED FOR THE NEXT WEEK LIKE  HOME  PRICES INDEX, NEW HOME SALES, DURABLE GOODS ORDERS,  REVISED ESTIMATE OF SECOND QUARTER GROWTH ETC. THE INEVITABLE DECISION OF U.S. TREASURY BAILING OUT FANNIE AND FREDDIE MAY NOT AUGUR WELL FOR THE MARKETS. ASIAN MARKETS OPENED HIGHER ON THE BACK OF U.S. GAINS.

NIFTY FUTURE ON FRIDAY OPENED AT 4265 AND TOOK SUPPORT FROM 4252 (THE SUPPORT MENTIONED IN THIS COLOUMN) RECOVERED TO THE DAY`S HIGH OF 4338 AND CLOSED AT 4329.

NIFTY FUTURE SUPP LEVELS 4252, 4174 RESIST 4378, 4409, 4462. NIFTY MAY OPEN HIGHER ON GLOBAL CUES. HOWEVER WE ARE NOT POSITIVE ABOUT THE STRENGTH OF NIFTY AT HIGHER LEVEL. BOOK PROFITS IF NIFTY OPENS SHARPLY HIGHER ON SHORT COVERING. THIS TYPE OF VOLATILITY ON DAILY BASIS MAY INFLICT  HEAVY LOSSES ON UN HEDGED POSITIONS. AVOID SHORTS IF NIFTY STAYS ABOVE 4470.

GMRINFRA SUPP 98,93 RESIST 104, 107 SELL AT HIGHER LEVELS

BPCL SUPP 286,279 RESIST 297, 309

BHARTIARTL SUPP 790 RESIST 817,829

ZEEL SUPP 205,201 RESIST 212,217 SELL AT HIGHER LEVEL

IDFC SUPP 88,83 RESIST 99, 103 SELL

INDIACEM BUY 137 SL 135 TGT 145,148

CAIRN SUPP 243,237 RESIST 252 SELL WITH SL 254

INDIANB BUY 113 SL 110 TGT 118,125

WIPRO SUPP 413,408 RESIST 424,432 SELL AT HIGHER LEVEL

HINDALCO SUPP 127, 123 RESIST 135,141 SELL

INFOSYSTCH SUPP 1671,1660 RESIST 1711,1725

SATYAMCOMP SUPP 380,374 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

INTRADAY CALLS – 22/08/08

WITH COMMODITIES PULLING BACK FROM RECENT LOWS, CRUDE GAINING $5 TO  $121 LEVELS ON ESCALATING TENSION BETWEEN U.S. AND RUSSIA, LEADING ECONOMICS INDIACATORS FAILING TO IMPRESS AND INITIAL JOBLESS CLAIMS  AT 432,000 JUST BELOW EXPECTATIONS DOW JONES DID WELL TO END THE DAY  POSITIVELY BY 12 POINT AT 11430 AFTER POSTING INITIAL THREE DIGIT LOSS TO THE DAY`S LOW OF 11315. FOLLOWING THE TREND NIKKEI  IS DOWN FOR THE FOURTH DAY IN THE MORNING SESSION. 

YESTERDAY WAS  A REAL TRAP FOR THE BULLS WHO CARRIIED THEIR POSITIONS OVER THE PREVIOUS DAY.  LAST THING THAT SHOULD HAVE HAPPENED WAS A LOWER OPENING AND WHEN IT HAPPENED  IT WAS A CLEAR `SELL` AT OPEN ITSELF. AFTER OPENING LOWER BY 40 POINTS NIFTY FUTURE NEVER LOOKED UP AND CONTINUED TO FALL FROM THE DAY`S HIGH OF 4409 TO THE DAY`S LOW OF 4284, A LOSS OF NEARLY 153 POINTS AND CLOSED AT 4287.

NIFTY SUPP LEVELS 4252, 4174 RESIST 4378, 4409,4462.  NIFTY FUTURE SURRENDERED ALMOST ALL ITS PAST 10 DAYS GAIN AND WILL FIND STRONG RESISTANCE ON ITS WAY UP. GAINING CRUDE PRICE, SOARING INFLATION , NEGATIVE CUES FROM GLOBAL MARKETS AND , SELLING BY FII`S  MAKE THINGS WORSE. AVOID SHORT ABOVE 4380 FOR THE DAY. WHILE DAY TRADING IS DIFFICULT IN THIS MARKET , CARRY OVER POSITIONS POSTS BIGGER RISK. WE ALWAYS ADVISE HEDGED POSITIONS FOR CARRY OVERS. WAIT FOR THE MARKET TO SETTLE DOWN TO INITIATE TRADES.

GMRINFRA SUPP LEVELS 98,93 RESIST 104,107

BPCL BELOW 297 TGT 280

BHARTIARTL SUPP 790, 782 RESIST 816 BUY AT LOWER LEVEL

ZEEL SUPP5,205,201 RESIST 212,217 SELL

IDFC SUPP 88, 83 RESIST 99,103 BUY AT LOWER LEVEL

CAIRN SUPP 237,232 RESIST 245,250  SELL AT HIGHER LEVEL

INDIANB SUPP 110,106 RESIST 118 BUY AT LOWER LEVEL

WIPRO SUPP 414,408 RESIST 432,440 BUY

SATYAMCOMP SUPP  398,392 RESIST 410, 416 BUY WITH SL 389

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