Free Intraday Stock Tips

INTRADAY CALLS – 10/10/08

                                                         GLOBAL MARKETS COLLAPSE

WE HAD ADVISED NO SHORTS AT LOWER LEVELS ON WEDNESDAY AND THE NIFTY PULLED BACK SHARPLY AS ADVISED IN OUR COLOUMN. WE SEE NIFTY FUTURE HITTING PANIC LOWS AND THE LEVEL OF 3200 MAY BE TESTED IN THE SHORT TERM , AS SAID EARLIER. 

 DOW JONES CONTINUE TO BLEED ON THURSADY, THE FIRST DAY AFTER THE BAN ON SHORT SELLING WAS REMOVED,.  IT WAS AN UPBEAT OPENING AS IBM ANNOUNCED BETTER THAN EXPECTED RESULTS AND TREAUSARY INDICATED TO PICK UP STAKES DIRECTLY IN THE BANKS IRRESPECTIVE OF THEIR STRENGTH, A MEASURE THAT WOULD CHEER INDIAN COMMUNISTS. DOW GAINED 190 POINTS INITIALLY AT DAY`S HIGH, ONLY TO SUCCUMB TO HEAVY SELLING PRESSURE AND MELTED DOWN TO THE LOWESTLEVEL OF THE DAY OF 8579, A LEVEL NOT SEEN IN THE PAST SIX YEARS LOSING 678 POINTS DURING THE DAY AND OVER  5500 POINTS FROM EXACTLY ONE YEAR AGO WHEN DOW REAHCED AN ALL TIME HIGH. GM FELL ON NEGATIVE CREDIT RATING AND INITAL  UNEMPLOYMENT CLAIMS AT 478000 WERE THE OTHER NEW S FOR THE DAY. ASIAN STOCKS  BLEED AT OPEN AND NIKKEI IS DOWN BY NEARLY 1000 POINTS AT THIS POINT OF TIME.

NIFTY FUTURE ON WEDNESDAY OPENED DEEP IN THE RED AT 3505, FURTHER WENT DON TO THE LOWET LEVEL OF 3352 AND RECOVERED SHARPLY ON SHORT COVERING AND VALUE BUYING AT LOWER LEVEL AND ENDED THE DAY AT 3566, INCIDENTALLY THE HIGHEST LEVEL OF THE DAY NETTING A LOSS OF 105 POINTS.

NIFTY FUTURE SUPP LEVELS 3400, 3315,3220 RESIST  3513, 3695.  NIFTY FUTURE IS EXPECTED TO OPEN MUCH LOWER ON GLOBAL BLEEDING AND WILL BE VOLATILE. WAIT FOR THE MARKTS TO SETTLE DOWN BEFORE INITATING ANY TRADE AS ANY TRADE IN PANIC WILL RESULT IN LOSSSES.  WITH THE BOTTOM STILL SOME DISTANCE AWAY, INVEST A VERY LITTLE PORTITON OF THE MONEY IN BUYING.

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