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INTRADAY CALLS – 10/09/09

GLOBAL CUES DICTATES TREND

AS WE HAD SAID IT WAS LEHMAN`S DAY TO PULL DOWN DOW JONES  BY 280 POINTS TO THE DAY`S LOW OF 11230 AFTER THE INITIAL GAIN OF 67 POINTS TO THE DAY`S HIGH OF 11577. LEHMAN BROTHERS FELL BY 45 PERCENT TO A NEW LOW OF $7.79 AFTER REPORTS INDICATED THAT KOREAN DEVLOPMENT BANK IS NO LONGER IN TALKS FOR A TAKE OVER. LEHMAN ADVANCED ITS QUARTERLY RESULTS TO WEDNESDAY  MORNING AND IS CONSIDERING SELLING  ALL OR PART OF ITS INVESTMENT BUSINESS OR SPINNING OF ITS COMMERCIAL REAL ESTATE ASSETS. A LOWER THAN EXPECTED LOSS MAY HELP THE STOCK TO RECOVER SOME GROUND. PENDING HOME SALES FELL 3.2%, WORSE THAN EXPECTED AND CONTINUED FALL IN METALS ADDED TO THE WOES. CRUDE FELL TO AROUND $101 AND RECOVERED TO $ 103. ASIAN MARKETS OPENED LOWER AND NIKKEI IS TRADING DOWN BY 130 POINTS AT THIS TIME.

NIFTY FUTURE ,BACK HOME, OPENED LOWER AT 4448, FELL TO 4440, RECOVERED IN THE LATE AFTERNOON TO 4525 AND CLOSED LOWER AT 4482 LOSING 19 POINT FROM THE PREVIOUS CLOSE.

NIFTY FUTURE SUPP LEVEL 4440,4368,4322 RESIST 4525,4584. NIFTY FUTURE MAY OPEN LOWER ON GLOBAL CUES. SELECTIVE LONGS AT LOWER LEVEL IS SUGGESTED WITH STRICT SL.  AS THE GLOBAL MARKETS ARE STILL UNCERTAIN WE SEE RANGE BOUND MOVEMENTS ONLY.

WIPRO SUPP 431,426 RESITS 448 BUY AT LOWER LEVEL

HINDUNILVR SUPP 248 RESIST 256,262 SL 246

HINDPETRO SUPP 236 RESIST 248,257 BUY

MTNL BUY 97 SL 95 TGT 103,108 BUY

MARUTI ABOVE 715 TGT 732

ORIENTBANK SUPP 179,174 RESIST 184,189 BUY AT LOWR LEVEL

SATYAMCOMP SUPP 425,415 RESIST 435,442 BUY AT LOWER LEVEL

CAIRN SUPP 228,222 RESIST 235,242 BUY AT LOWER LEVEL

INDIANB SUPP 134,131 RESIST 144,149 BUY

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