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INTRADAY CALLS – 15/10/08

                                  NIFTY TO TOUCH NEW LOWS IN THE COMING DAYS

 

DOW JONES WEIGHED DOWN ON TOP OF THE PREVIOUS DAY`S HISTORIC GAINS.   AFTER GAINING 407 POINTS IN THE INITIAL HOUR OF TRADE ,AT THE HIGH OF 9794, DOW GRADUALLY LOST ALL IT`S GAIN ON PORIFT BOOKING THROUGH THE DAY AND FELL TO THE LOW OF 9085, A CORRECTION OF 709 POINTS FROM THE HIGH AND RECOVERED TO CLOSE AT 9310 WITH THE NET LOSS OF 76 POINTS.  ASIAN MARKETS HAVE OPENED LOWER AND NIKKEI IS DOWN BY 117 POINTS AS OF NOW.

NIFTY FUTURE OPENED HIGHER  ON TUESDAY  AT 3633 AND WAS ABOVE 3650 FOR SOME TIME AND LOST ALL IT`S GAIN AND CLOSED AT 3511ALMOST AT THE LOWEST LEVEL OF THE DAY LOSING 41 POINST FROM PREVIOUS CLOSE.

NIFTY FUTURE SUPP LEVELS 3434, 3377, 3266 RESIST 3630,3695,3760 NIFTY FUTURE COULD NOT STAY AT HIGHER LEVELS ON SELLING PRESSURE AND WE EXPECT THE WEAKNESS TO CONTINUE. AVOID SHORT ABOVE 3630 FOR THE DAY. AVOID ALL LONGS BELOW 3430 LEVELS. OUT LOOK FOR THE NIFTY IS CERTAINLY GLOOMY AND THE NIFTY FUTURE BREAKING THE RECENT LOW OF 3216 STILL EXISTS AND WE MAY SEE THE LEVEL OF AROUND 2900 IN THE COMING DAYS. HENCE KEEP BOOKING PROFITS AT RESISTANCE LEVELS AND DO NOT AVOID STOP LOSSES OR HEDGING.

WIPRO SUPP 275 RESIST 313,322 SELL AT HIGH LEVELS

HINDALCO SUPP 82,75 RESIST 88,92 SELL

BANKBARODA SUPP 295,288 RESIST 323 SELL SL 326

HINDUNILVR SUPP 235,228 RESIST 246 SELL WITH SL 248

HINDPETRO SUPP 211,204 RESIST 222,238 BUY AT LOW LEVEL

ICICIBANK BELOW 419 TGT 400,370

INFOSYSTCH BELOW 1355 TGT 1300

ONGC SUPP 875,845 RESIST 920 SELL WITH SL 925

SATYAMCOMP SUPP 265 RESIST 302 SELL AT HIGHER LEVEL

ZEEL SUPP 157,151 RESIST 166 SELL WITH SL 168

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