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INTRADAY CALLS – 23/09/08

 REALITY DAWNS AND GLOBAL RALLY FALTERS

 

THE BIGGEST BAIL OUT COULD NOT CARRY THE MARKETS FOR  THE SECOND DAY AS UNCERTAINITY PREVAILED OVER THE MODALITIES OF THE BAIL OUT AND THE NEWS OF THE  REMAINING TWO BIGGEST INVESTMENT BANKS BEING CONVERTED  AS TRADITIONAL BANKS ADDING  TO THE FALL. CAPITALISM HAS CERTAINLY TAKEN THE BACK SEAT AS SURVIVAL BECOMES TOUGHER. DOW JONES STARTED FALLING FROM YESTERDAY`S CLOSE AND FELL TO  THE DAY`S LOW OF 10992 AND CLOSED AT 11015 LOSING 372 POINTS. ASIAN MARKETS FOLLWED WITH LOWER OPENING. CRUDE SPIKED TO THE BIGGEST INTRA DAY GAIN AND TOUCHED  $130 ON THE OCTOBER CONTRACT DELIVERY DAY ON SHORT COVERING.  NIKKEI  IS CLOSED FOR THE DAY.

NIFTY FUTURE YESTER DAY OPENED HIGHER , BUT FAILED TO STAY AT THE LEVEL AND FELL TO THE DAY`S LOW OF 4216 AND CLOSED AT 4220.

NIFTY FUTURE SUPP LEVELS  4184, 4140 RESIST 4318,4372. NIFTY FUTURE MAY OPEN LOWER ON GLOBAL FOLLOW UP . AVOID ALL LONGS BELOW 4140. NIFTY MAY MOVE UP IF IT STAYS ABOVE 4180 DURING THE DAY.

WIPRO SUPP  411,403 RESIST 424,432 SELL

HINDALCO BUY106 SL 104 TGT 115

BANKBARODA BELOW 304 TGT 294

HINDUNILVR BUY 245 SL 243 TGT 252,256

HINDPETRO SUPP 228,221 RESIST 235,240 BUYAT LOWER LEVEL

RELIANCE SUPP 2000,1947 RESIST 2090,2139 SELL

SATYAMCOMP SUPP 350, 328 RESIST 368,378 SELL

AMBUJACEM BUY 82 SL 81 TGT 88,91

GMRINFRA BELOW 87 TGT 83

ZEEL SUPP 200,196 RESIST 212 SELL SL 214

CAIRN SUPP 215 RESIST 230 SELL AT HIGHER 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