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INTRADAY CALLS – 14/11/08 – VIJAY

MAHAVIR JAYANTHI SAVED THE DAY FOR BULLS

 

 

 

DOW JONES PULLED OF A SPECTACULAR RECOVERY IN THE SECOND HALF OF YESTERDAY, AFTER LOSING 411 POINTS  AND 317 POINTS RESPECTIVELY ON WEDNESDAY AND YESTERDAY`S FORE NOON SESSION. DOW RECOVERED FROM YESTERDAY`S LOW OF 7965 TO THE HIGH OF 8876 GAINING 594 POINTS  AND CLOSED AT 8835 NETTING  A GAIN OF 552 POINTS, ON A DAY OF REASONABLY LARGE VOLUMES. EARLIER IN THE DAY DOW FELL ON WEEKLY JOBLESS CLAIMS  THAT  HIT A SEVEN YEAR HIGH OF 516000, WHICH WAS ABOVE THE ESTIMATES. ASIAN MARKETS HAVE OPENED HIGHER AND NIKKEI IS HIGHER BY  357 POINTS.

 

NIFTY FUTURE  OPNED AT 2907 ON WEDNESDAY AND  RECOVERED   TO GAIN 66 POINTS AT 2988. BUT A SELL OFF  IN THE AFTER NOON  BROUGHT IT DOWN TO THE LOW OF 2785 AND IT MANAGED TO CLOSE AT 2854 LOSING  68 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 2845, 2800 RESIST 2950, 3055. WEDNESDAY`S SELL OFF WEAKENED THE NIFTY FUTURE CONSIDERABLY. THOUGH THE MARKETS ARE EXPECTED TO OPEN HIGHER ON GLOBAL FOLLOW UP AND FALLING INFLATION, WE EXPECT SELLING AT HIGHER LEVELS. HENCE KEEP BOOKING PROFITS UNTIL MARKETS STABILISE. AVOID LONG BELOW 2840. AVOID SHORT ABOVE 2960 DURING THE DAY.

 

WIPRO SUPP  245 RESIST 255,264 BUY WITH SL BELOW 240

 

HINDALCO BUY 55 SL 53 TGT 60,64

 

ARVIND BUY 17 SL 16 TGT 19.5

 

BANKBARODA SUPP 276,271 RESIST 287,292 BUY AT LOWER LEVEL

 

HINDUNILVR SUPP 230,225 RESIST 240,249 SELL

 

HINDPETRO SUPP 205,198 RESIST 220,225

 

MTNL BUY 67 SL 66 TGT 72, 75

 

RELIANCE SUPP 1155, 1125 RESIST 1200,1250

 

SATYAMCOMP SUPP 261, 251 RESIST 273, 284 SELL AT HIGHER LEVEL