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INTRADAY CALLS – 11/11/08 – VIJAY

GLOBAL MARKETS STRUGGLE AT HIGHER LEVELS

 

 

DOW JONES YESTERDAY WAS TRADING HIGHER IN THE INITIAL HOURS OF THE DAY AND STARTED FALLING ON CONCERNS OF FINANCIAL AND AUTO COMPANIES. AFTER GAINING 215 POINTS AT DAY`S HIGH OF 9159, THE INDEX FELL AT REGULAR INTERVALS TO THE LOW OF 8760, LOSING 183 POINTS IN THE FINAL HOUR AND MANAGED TO CLOSE WITH A LOSS OF 73 POINTS AT 8870. ASIAN MARKETS ARE WEAK AND NIKKEI IS DOWN BY 334 POINTS AT THIS TIME.

 

NIFTY FUTURE  OPENED AT 3050 , GRADUALLY GAINED THROUGHOUT THE DAY AND CLOSED AT 3176,NEAR THE HIGHEST LEVEL OF 3178 GAINING 158 POINTS.

 

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A PROFITABLE DAY. REPLIES AT THIS COLUMN OR AT VIJAY.CALLS@YAHOO.CO.IN.

 

NIFTY FUTURE SUPP LEVELS 3050, 2900,2850 RESIST 3265, 3359. NIFTY MAY FIND RESISTANCE AROUND 3260 LEVELS. A CLOSE ABOVE 3270 MAY TAKE NIFTY TO 3450 LEVELS.  INABILITY TO CROSS ABOVE THIS LEVEL MAY BRING NIFTY FUTURE DOWN. AVOID  LONG BELOW 3050 FOR THE DAY.

 

WIPRO SUPP 263,254 RESIST 275,282 SELL AT HIGHER LEVEL

 

HINDALCO SUPP 62,57 RESIST 70,74 SELL AT HIGHER LEVEL

 

ARVIND BUY 17.5 SL 16 TGT 22,25

 

HINDUNILVR SUPP 248,243 RESIST 254,259 SELL AT HIGHER LEVEL

 

HINDPETTO BUY 210 SL 207 TGT 222,233

 

ICICIBANK SUPP 450 RESIST 474, 498 BUY WITH SL 446

 

MARUTI ABOVE 603 TGT 619

 

RELIANCE SUPP 1260, 1190 RESIST 1306, 1360

 

SATYAMCOMP SUPP 285, RESIST 300,312 SELL AT HIGHER LEVEL

 

AMBUJACEM SUPP 57,54 RESIST 64,68 SELL AT HIGHER LVL