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INTRADAY CALLS – 14/10/08

                                                      DOW JONES BIGGEST GAINS

DOW JONES ON MONDAY POSTED BIGGEST GAINS EVER ON GLOBAL EMERGENCY FUNDING MEASURES TO IMPROVE LIQUIDITY.  DOW GAINED 976 POINTS AT THE HIGHEST LEVEL AND CLOSED AT 9387 GAINING 936 POINTS FOR THE DAY.  AFTER SEVEN DAYS OF LOSSES, THE RECOVERY WAS EXPECTED AND SHORT COVERING AIDED THE RECOVERY. ASIAN MARKETS ARE ALSO STRONG AND NIKKEI IS UP BY OVER 1080 POINTS ATH THIS TIME AFTER A HOLIDAY.

NIFTY FUTURE YESTERDAY OPENED HIGHER AT 3390, TOUCHED  THE DAYS LOW AT 3377 RECOVERED FURTHER TO 3556 AND CLOSED AT 3552 GAINING 249 POINTS.

NIFTY FUTURE SUPP LEVELS 3568,3695,3760 NIFTY FUTURE MAY OPEN HIGHER AGAIN GLOBAL FOLLOW UP. HOWEVER WE DO NOT EXPECT NIFTY FUTURE TO MOVE ABOVE 3760 LEVELS.  ONCE THE SHORT COVERING AND THE EUPHORIA ARE OVER, REALITY WILL BE DAWN AND MARKETS MAY CORRECT LOWER.  WE MAY BEABLE TO ASCERTAIN THE BOTTOM ONLY THEN. AVOID SHORT FOR THE DAY ABOVE 3570. NO LONGS BELOW 3420.

WIPRO SUPP 275,261 RESIST 300,322  BUY AT LOW LEVEL

HINDALCO SUPP 82, 75 RESIST 92,97 SELL

BANKBARODA SUPP 295,288 RESIST 316,324 SELL AT HIGHER LEVEL

HINDUNILVR SUPP 229,221 RESIST 238,247 SELL AT HIGHER LEVEL

HINDPETRO SUPP 204 RESIST 222 ABOVE 224 TGT 238

ICICI BANK BELOW 419 TGT 400, 370

ORIENTBANK SUPP 162,153 RESIST 171,176

SATYAMCOMP SUPP 265, 252 RESIST  276,292 SELL AT HIGHER LEVEL

TATASTEEL ABOVE 319 TGT 335

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