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INTRADAY CALLS – 06/10/08

                                                        CRISIS OF CONFIDENCE

                    

DOW FELL SHARPLY ON LAST MONDAY, WHEN CONGRESS REJECTED THE RESCUE PLAN AND FELL SHARPLY AGAIN ON FRIDAY WHEN CONGRESS APPROVED THE RESCUE PACKAGE OF $700 BILLION.  THAT IS THE BEAUTY OR THE UNCERTAINITY OF THE MARKETS. SAME THING HAPPENED WHEN CRUDE ROSE AND FALL. ULTIMATELY THERE IS ONE THING CLEAR FOR THE SHORT TERM -THAT IS THE MARKET PARTICPANTS  ARE IN REAL PANIC AND MARKET WILL BE DOWN FOR ANY NEWS. DOW ON FRIADAY  WAS UP AND ABOVE WITH 314 POINTS AT THE DAY`S HIGH AT NOON AND STARTED FALLING AFTER THE PASSAGE OF THE PLAN AND DROPPED TO THE LOWEST LEVEL OF 10310 AND CLOSED AT 10325 LOSING 157 POINTS. DOW CONTINUES TO BE WEAK AND MAY TEST 9500 LEVELS. ASIAN MARKETS ON MONDAY OPENED LOWER ON CONTINUING CREDIT CRISIS WHICH IS SPREADING TO EUROPE. NIKKEI IS TRADING LOWR BY OVER 390 POINTS AT THIS TIME.

NIFTY FUTURE ON FRIDAY OPENED LOWER AT 3907, MOVED A LITTLE HIGHER BRIEFLY AND FELL TO THE LOW OF 3823 AND CLOSED AT 3853 LOSING 120 POINTS FROM PREVIOUS CLOSE.

NIFTY FUTURE SUPP  3761, 3650 RESIST 3913,4000. FOLLOWING GLOBAL MARKETS NIFTY FUTURE MAY OPEN LOWER.  AVOID  ALL LONGS BELOW 3760. OUT LOOK FOR NIFTY FUTURE CONTINUE S TO BE WEAK AND  A CLOSE BELOW 3760 MAY TAKE IT TO 3500 LEVELS. AVOID SHORT ABOVE 4000.

WIPRO  SUPP 341,336 RESIST 354 BUY AT LOWER LEVELS  SL 334

HINDALCO SUPP 95,92 RESIST 101 BUY AT LOWER LEVEL

BANK BARODA SUPP 288 RESITS 310 BUY SL 285

HINDUNILVR SUPP 251,246 RESIST 262 BUY

HINDPETRO BUY 235 SL 233 TGT 252

ORIENTBANK SUPP 152,145 RESITS 164,168 BUY

SATYAMCOMP SUPP  306 RESIST 318,324 BELOW 306 MAY TOUCH 295

ZEEL SUPP 187,182 RESIST 204 SELL AT HIGHER LEVEL

CAIRN SUPP 195,190 RESIST 206 SELL

MANY BUY CALLS ARE GIVEN FOR DAY TRADING AS WE EXPECT THE MARKET TO OPEN LOWER AND SELLING MAYNOT BE POSSIBLE. DO NOT AVOID STOP LOSS AND AVOID ALL LONGS IF NIFTY FUTURE TRADES BELOW 4760.

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