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INTRADAY CALLS – 16/10/08

                                                     SADLY, WE ARE RIGHT AGAIN

 

DOW JONES CONTINUES TO HAVE  A HORRIBLE JOURNEY AND LOST ALMOST ALL THE GAINS MADE TWO DAYS BACK AND IS HEADING FOR NEW LOWS. DOW JONES STARTED FALLING RIGHT FROMTHE OPENING BELL AND CLOSED AT 8577, ALMOST NEAR THE LOWEST LEVEL OF 8530 AND HAS LOST 733 POINTS FROM THE PREVIOUS SESSION. DOW HAS SIGNIFICANT SUPPORT ONLY AROUND 7300-7500 LEVELS.  RETAIL SALES FELL 1.2% IN SEPTEMBER, HIGHER THAN EXPECTATION PROBABLY THE LARGEST DECLINE IN THREE YEARS. RECESSION STILL NOT ACCEPTED BY THE U.S., IS ALREADY SPREADING GLOBALLY AND HAS TAKEN THE TOLL IN OTHER MARKETS. ASIANMARKETS OPEN DEEP IN THE RED AND NIKKEI IS DOWN BY 911 POINTS IN THE MORNING SESSION.

NIFTY FUTURE YESTERDAY OPENED  LOWER AT 3451, BREIEFLY RECOVERED A LITTLE ONLY TO FALL  CONTINUOUSLY TO THE LOWEST  LEVEL OF 3328 AND CL;OSED AT 3339 LOSING NEAR;LY 172 POINTS..

NIFTY FUTURE SUPP LEVELS 3266,3220,3115 RESIST 3460, 3630. YESTERDAY WE HAD WARNED NO LONGS BELOW 3430 AND YOU WILL SEE WHY TO DAY. NIFTY FUTURE IS EXPECTED TO OPEN LOWER DESPITE CONTINUOUS CRR CUTS AND AS WE HAD SAID WE MAY BE HEADING FOR LEVELS LOWER THAN 3000 IN SHORT TERM. WE HAVE BEEN CALLING NIFTY RIGHTLY ON ALL THE OCCASIONS WITH MORE THAN 95 PERCENT ACCURACY AND THE PURPOSE OF THIS COLOUMN IS THAT THE USER SHOULD TAKE ADVANTAGE OF IT, IF NOT BY MAKING MONEY, AT LEAST BY NOT LOSING IT. WE SHALL ADVISE WHEN THE BOTTOMING OUT TAKES PLACE.  NO STOCK CALLS DUE TO PAUCITY OF TIME.

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