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INTRADAY CALLS – 18/11/08 -VIJAY

MARKETS STRUGGLE TO STAY AFLOAT

DOW JONES ONCE AGAIN WENT DOWN IN THE OPENING HOURS, RECOVERED TO THE HIGHEST LEVEL OF THE DAY AT 8571 AROUND NOON GAINING 74 POINTS, ONLY TO GET BACK TO THE LOWEST LEVEL OF THE DAY AT 8246 IN THE FINAL HOUR AND CLOSED AT 8273 LOSING 223 POINTS. CITI PLANS TO SLASH 52000 JOBS AND G-20`S FAILURE TO IMPRESS WERE ENOUGH TO BRING THE INDEX DOWN. OFFICIALLY JAPN AND EUROPE ARE UNDER RECESSION, BUT THE U.S. FROM WHERE ALL PROBLEMS WERE STARTED YET TO ACCEPT IT`S RECESSION. DOW MAY BE HEADING FOR NEW LOWS IN THE COMING DAYS. ASIA OPENED LOWER WITH NIKKEI AT MINUS 168 POINTS AT THIS TIME.

BACK HOME NIFTY FUTURE OPENED FLAT AND WENT UP TO 2849 AND NOSE DIVED TO THE LOW OF 2694 LOSING 133 POINTS, ONLY TO RECOVER TO THE POSITIVE ZONE BRIEFLY AND CLOSED AT 2799 WITH THE NET LOSS OF 28 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 2710,2671, 2616 RESIST 2815,2890,2950. NIFTY FUTURE MAY OPEN LITTLE LOWER ON GLOBAL CUES. WE ADVISE CAUTION AT HIGHER LEVELS AS SELLING IS EVIDENT WHENEVER THE MARKET RECOVERS.

WIPRO SUPP 236,230 RESIST 255,264

HINDALCO SUPP 52 RESIST 57,60 BELOW 52 MAY TOUCH 46

BANKBARODA SUPP 263,259,245 RESIST 275,284 SELL AT HIGHER LEVEL

HINDUNILVR BUY 229 SL 224 TGT 240

HINDPETRO SUPP 218,213 RESIST 226,232 BUY

MTNL SUPP 72,67 RESIST 76,82 BUY AT LOWER LEVEL

SATYAMCOMP SUPP 247,241 RESIST 259, 272 SELL AT HIGHER LEVEL