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INTRADAY CALLS – 04/09/08

DOWJONES ON TUESDAY GAINED 247 POINTS IN THE MORNING SESSION , BUT FAILED TO HOLD ON TO THE GAINS IN THE LATTER HALF OF THE DAY, MOVED LOWER TO 11471 LOSING 72 POINTS AND CLOSED AT 11516 WITH A NET LOSS OF 26 POINTS. AUGUST ISM INDEX FELL MARGINALLY TO 49.9 AND  CONSTRUCTION SPENDING FELL BY 0.6%, A DECLINE LARGER THAN EXPECTED. ON WEDNESDAY DOW CONTINUED TO FALL TO 11416 LOSING 100 POINTS IN THE FORE NOON SESSSION, LATER RECOVERD TO CLOSE POSITIVELY AT  11532 GAINING 16 POINTS ON THE BACK OF STRONG JULY FACTORY ORDERS GROWTH AT 1.3% AND CRUDE  REAMINING STEADY AT $109.  HOWEVER, CONTRACTION IN GLOBAL GROWTH AND CONSEQUENT FALLING METALS AND COMMODITIES MAY PUT THE BRAKES ON ANY SURGE IN THE INDEX. ASIAN STOCKS DOWN ON TECH AND ENERGY STOCKS WEAKNESS AND JAPAN`S NIKKEI IS TRADING  LOWER BY OVER 100 POINTS AT THIS TIME.

NIFTY FUTURE ON TUESDAY ROSE SHARPLY AS EXPECTED ON THE BACK OF FALLING CRUDE PRICES. TECH AND OIL COMPANIES GAINED  THROUGH OUT THE DAY AND NIFTY FUTURE TOUCHED THE DAY`S HIGH OF 4544 AND CLOSED AT 4517, GAINING 156 POINTS.

NIFTY FUTURE SUPP LEVELS 4395,4280 RESIST 4584,4655. NIFTY FUTURE MAY OPEN SLIGHTLY LOWER ON ASIAN MARKTS CONCERN AND ON THE BACK OF LARGE GAINS ON TUES DAY. WE FELL NIFTY HAS STILL SOME STEAM TO GO UP IN THE SHORT TERM AND WE SUGGEST LONG AT LOW LEVELS. EVEN THOUGH FALLING CRUDE IS WELCOME SIGN, RUPEE BELOW 46 WILL BE WORRY TO IMPORTERS. TECH STOCKS MAY GAIN. AVOID LONG BELOW 4390 AND BOOK PROFITS AROUND 4640 LEVELS.

GMRINFRA SUPP 100RESIST 107,111 BUY

BPCL SUPP 312 RESIST 322,329 SELL AT HIGHER LEVEL

BHARTIARTL SUPP 818,802 RESIST 843,856

ZEEL SUPP 218 RESIST 232 SELL WITH SL 234

IDFC SUPP 92 RESIST 102 SELL

INDIACEM SELL 146 SL 148 TGT 137

CAIRN SUPP 232,228 RESIST 242 BUY AT LOWER LEVEL

INDIANB SELL 143 SL 145 TGT  132

RPL SUPP 156 RESIST 165

WIPRO SUPP 442 RESIST 462,469 BUY AT LOWER LEVEL

HINDUNILVR SUPP 243 RESIST 250,255 SELL AT HIGHER LEVEL

HINDPETRO ABOVE 232 TGT 242

SATYAMCOMP SUPP 424,418 RESIST 444,460 BUY AT LOW LEVEL

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

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