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INTRADAY CALLS – 01/09/08

NIFTY IN TRADING ZONE

 

DOW JONES WAS ON A ROLLER COASTER  DURING THE WHOLE OF AUGUST.  BREAKING BELOW 11200 AND ABOVE 11900 DURING THE MONTH  IT WAS ALTERNATING GAINS AND LOSSES ALMOST EACH DAY. FRIDAY WAS ANOTHER DAY, THE LAST TRADING DAY OF AUG 08, WHEN DOW OPENED LOWER  AND ENDED AT THE LOWEST LEVEL OF THE DAY AT 11543, LOSING 171 POINTS , WIPING OUT MOST OF THE EARLIER DAY`S GAIN.  THE  ECONOMIC DATA OF PERSONAL INCOME AND PERSONAL CONSUMPTION EXPENDITURE  AND WARNING FROM DELL ABOUT FUTURE EARNINGS  DID THE DAMAGE, THOUGH CRUDE PRICES EASED AT CLOSE. JAPAN`S NKKEI IS TRADING LOWER BY 180 POINTS AT THIS TIME.

NIFTY FUTURE ON THE FIRST DAY OF SEPT SETTLEMENT HAD A GALA OPENING  WITH A GAP AT 4291AND RALLIED THROUGH THE DAY TO THE HIGH OF 4380 AND CLOSED AT 4364, GAINING 135 POINTS FROM THE PREVIOUS CLOSE.

NIFTY FUTURE SUPP LEVELS 4300, 4219 RESIST 4409,4462.  NIFTY MAY OPEN SLIGHTLY LOWER ON GLOBAL FOLLOW UP. WE SUGGEST LONG AROUND THE SUPP LEVEL. AND AVOID  LONG BELOW 4290 FOR THE DAY. HURRICANE GUSTAV MAY CHANGE THE COURSE OF CRUDE PRICE.

GMRINFRA BUY 101 SL 98 TGT 107

BPCL SUPP 296,286 RESIST 305,310 BUY AT LOWER LEVEL

BHARTIARTL SUPP 819,802 RESIST 845,864 SELL AT HIGHER LEVEL

SCI BUY 202 SL 199 TGT 207,211

ZEEL SELL 224 SL 226 TGT 216,211

IDFC SUPP 88 RESIST 96,99 BUY

INDIACEM SUPP 136, 130 RESIST 145 SELL

CAIRN SUPP 246,242 RESIST 256,262 SELL AT HIGHER LEVEL

INDIAN SUPP 123,119 RESIST 130,133 BUY AT LOWER LEVEL

RECLTD BUY 82 SL 79 TGT 87,90

WIPRO SUPP 422,415 RESIST 435,442 SELL AT HIGHER LEVEL

HINDUNILVR SUPP 242,239 RESIST 249,254 SELL AT HIGHER LEVEL

RELIANCE SUPP 2120,2102 RESIST 2162,2196 SELL AT HIGHER LEVEL

SATYAMCOMP SUPP 414,403 RESIST 428 SELL WITH SL 431

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

ICICIBANK SUPP 666, 654 RESIST 683,691 SELL WITH SL 693