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INTRADAY CALLS – 05/11/08 – VIJAY

                                               DOW AND OBAMA CRUISE ALONG

 

DOW JONES OPENED HIGHER  ON THE ELECTION DAY. BUT FOR A BRIEF PERIOD, DOW MANAGED TO STAY ABOVE 9500 THROUGHOUT THE DAY AND CLOSED AT 9625, GAINING 305 POINTS ALMOST NEAR THE DAY`S HIGH AT 9644. EARLY RESULTS INDICATE  ILLINOIS DEMOCRAT CRUISING AHEAD. COMMODITIES  AND GLOBAL CURRENCIES MOVED HIGHER AS DOLLAR TUMBLED. ON THE ECONOMIC SIDE FACTORY ORDERS FOR SEPTEMBER WERE MUCH WORSE THAN EXPECTATION AT 2.5% DECLINE.  OBAMA OR MCCAIN IS NO PANACEA FOR THE STRUGGLING ECONOMY AND U. S. HAS TO UNDERGO THE PAINS FOR SOME MORE PERIOD.  ASIAN MARKETS ON SONG AGAIN AND NIKKEI IS UP BY 202 POINTS AT THIS TIME.

NIFTY FUTURE CONTINUED IT` S ONWARDS JOURNEY FOR THE FIFTH CONSECUTIVE DAY. NIFTY FUTURE FELL TO THE LOW OF 2993 IMMEDIATELY AFTER OPENING AND RECOVERED ALL THE LOSS LATER IN THE DAY TO CLOSE SHARPLY HIGHER AT 3175, NEAR THE DAY`S HIGH OF 3177 GAINING 113 POINTS.

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

NIFTY FUTURE SUPP LEVELS 3010, 2950,2800  RESIST 3195,3265,3359. NIFTY MAY OPEN HIGHER ON GLOBAL SENTIMENTS, HOWEVER MAY STRUGGLE TO STAY ABOVE 3265. AVOID SHORT FOR THE DAY IF NIFTY STAYS ABOVE 3276. RIDE THE RALLY AS LONG AS IT LASTS AND BOOK PROFITS AT RESISTANCE LEVELS. EXIT LON BELOW 2850. 

WIPRO SUPP 257,245 RESIST 269,280 BUY AT LOWER LEVEL

HINDALCO 59,54 RESIST 69,74 BOOK PROFIT AT HIGHER LEVELS

BANKBARODA SUPP 263 RESIST 298, 316 SELL AT HIGHER LEVELS

HINDUNILVR SUPP 236 RESIST  249,254 SELL AT HIGHER LEVEL

HINDPETRO SUPP 207,196 RESIST 219 SELL

M&M SUPP 378 RESIST 409

SATYAMCOMP SUPP 265 RESIST 288 BUY WITH SL 262

AMBUJACEM SUPP 61,58 RESIST 68 BUY AT LOWER LEVEL

IDFC SUPP 64,61 RESIST 74,78 SELL AT HIGHER LEVEL

INDIANB SUPP 131 RESIST 138,144 SELL AT HIGHER LEVEL