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INTRADAY CALLS 21/10/08

                                                   MARKETS STAGE RELIEF RALLY

IT WAS PARTY DAY AT DOW JONES FROM THE MOMENT IT OPENED HIGHER AT 8878 AND  RALLIED THROUGH THE DAY TO CLOSE AT THE HIGHEST LEVEL OF THE DAY AT 9265 GAINING 411 POINTS. HOPE OF FURTHER STIMULUS BEING DOLED OUT BY THE U.S. GOVT ELECTRIFIED THE STOCKS AND ABSENCE  OF ANY FURTHER NEGATIVE NEWS AIDED  THE SENTIMENT FOR A RALLY.  THE RECOVERY MORE OF A PULL BACK MAY LAST FOR A FEW SESSIONS. ASIAN MARKETS OPENED HIGHER AND NIKKEI IS TRADING HIGHER BY 259 POINTS.

NIFTY FUTURE  HAD A ROUGH RIDE YESTERDAY. HAVING OPENED HIGHER AT 3125 NIFTY FUTURE RALLIED TO THE HIGH OF 3276 AND FELL FROM THERE ON PROFIT BOOKING TO THE LOWEST LEVEL OF 3067 AND RECOVERED A LITTLE TO CLOSE AT 3161 GAINING 108 POINTS.

NIFTY FUTURE SUPP LEVELS 3100, 3050 RESIST 3265,3359. MARKET MAY OPEN HIGHER ON GLOBAL FOLLOW UP. AS WE HAD WRITTEN EARLIER THIS IS A PULL BACK RALLY AND PULL BACK RALLIES ARE SHARP AND SWIFT. DO NOT AVOID STOP LOSS. AVOID ALL SHORTS IF NIFTY TRADES ABOVE 3280. NO LONGS BELOW 3100.

WIPRO SUPP 274,256 RESIST 296,313 BUY

HINDALCO SUPP 61,56 RESIST 69,74 SELL ATHIGHER LEVEL

BANKBARODA SUPP 306, 298 RESIST 325,332  BUY AT LOW LEVEL

HINDUNILVR  SUPP 238,230 RESIST 248,252 SELL WITH SL 254

HINDPETRO BELOW 234 TGT 223

M&M SUPP 408,396 RESIST 439,454 SELL

SATYAMCOMP SUPP 277,268 RESIST 301,306 BUY

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