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INTRADAY CALLS – 25/09/08

INDECISIVENESS KEEPS MARKETS  RANGE BOUND

 

DOW JONES WAS RANGE BOUND YESTERDAY WITH THE DECISION ON THE BAILOUT SCHEME STILL HANGING AND WAS BETWEEN 10928 AND 10753 DURING THE DAY AND CLOSED MARGINALLY LOWER BY 29 POINTS AT 10825 ON LOWER VOLUMES. ON THE ECONOMIC NEWS SIDE AUGUST EXISTING HOME SALES FELL BY 2.2%, WHICH IS HIGHER THAN ESTIMATES. CRUDE STAYS AROUND $105. ASIAN MARKETS ARE MIXED AND NIKKEI IS DOWN BY OVER 100 POINTS.

NIFTY SEPTEMBER  FUTURE YESTERDAY WAS BETWEEN 4140 AND 4240 AS SAID IN THIS COLOUMN AND RECOVERED FROM THE LOW OF 4143 ON SHORT COVERING AND CLOSED AT 4190GAINING 45 POINTS FROM PREVIOUS CLOSE.

NIFTY SEPTEMBER FUTURE SUPP LEVELS 4140, 4050,3900 RESIST 4240,4318. NIFTY THOUGH MAY BE VOLITILE BEING THE LAST DAY OF THE SETTLEMENT IS EXPECTED TO BETWEEN THE SAME RANGE AS YESTERDAY AND MAY LOSE SOME GROUND IN HTE LATER HALF OF THE DAY. AVOID LONG BELOW 4140.

WIPRO SUPP 367 RESIST 382,392 SELL AT HIGHER LEVEL

HINDALCO BUY 106 SL 104 TGT 112,114

BANKBARODA SUPP 297,292 RESIST 310,322 BUY AT LOWER LEVEL

HINDUNILVR BUY 246 SL 243 TGT 252,256

HINDPETRO SUPP 232,224 RESIST 239,245 BUY

NATIONALUM BUY 412 SL 409 TGT 426,433

RELIANCE SUPP 2028,2000 RESIST 2069,2090

SATYAMCOMP SUPP 320 RESIST 348,366 SELL AT HIGHER LEVEL

BPCL ABOVE 356 TGT 367

ZEEL BUY 196 SL 194 TGT 205

CAIRN SUPP 223 RESIST 235,241 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