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INTRADAY CALLS – 10/11/08 – VIJAY

DOW JONES ON FRIDAY MANAGAED TO STAY IN THE POSITIV TERRITORY THROUGH OUT THE DAY, DESPITE SOME WORSE ECONOMIC DATA BEFORE THE OPENING BELL AND MANAGED TO CLOSE AT 8943 NEAR THE DAY`S HIGH OF 8961 GAINING 248 POINTS AFTER TWO DAYS OF BIGGEST LOSS.
NONFARM PAY ROLLS DECLINED 240000 IN OCTOBER, PUSHING UP THE UNEMPLOYMENT RATE TO 6.5 PERCENT UP FROM 6.1 PERCENT FROM THE PREVIOUS MONTH. ASIAN MARKETS HAVE OPENED HIGHER AND ARE TRADING POSITIVELY. NIKKEI IS UP BY ABOUT 470 POINTS AT THIS TIME.

NIFTY FUTURE ON FRIDAY WAS SUBDUED TILL NOON AND RALLIED STRONGLY IN THE SECOND HALF OF THE DAY TO CLOSE AT 3018, NEAR THE DAY`S HIGH OF 3028 GAINING 136 POINTS DURING THE DAY.

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 2900,2850,2800 RESIST 3020,3140. WE ADVISED NOSHORT ABOVE 2960 ON FRIDAY. NIFTY MAY OPEN HIGHER ON FOLLOW UP TO DAY. KEEP BOOKING PROFITS AT HIGHER LEVEL AS THIS IS STILL A PULL BACK RALLY.  SELLING AT HIGHER LEVELS WILL BRING DOWN THE NIFTY TO LOWER LEVELS IN THE COMING DAYS. AS WE HAVE BEEN SAYING BUY AT SUPPORT LEVELS AND EXIT AT RESISTANCE LEVELS. 

STOCK CALLS TOMORROW.