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INTRADAY CALLS – 19/11/08 – VIJAY

WE INTEND ADVISING  SELECTIVE HEDGED DERIVATIVE CALLS TO BEAT THE MARKET VOLATILITY. WE SHALL ADVISE LATER ABOUT IT

MARKETS ON QUICK SAND

 

 

THANKS TO  HP AND HOME DEPOT RESULTS WHICH TOPPED ESTIMATES , DOW  GAINED 151 POINTS  LATE IN THE DAY TO CLOSE AT  8424.  DOW  WAS VOLATILE AFTER OPENING FLAT, GAINED  204 POINTS AT THE HIGH LEVEL OF THE DAY AT NOON, ONLY TO FALL TO THE DAY`S LOW OF 8105 IN THE AFTERNOON SESSION AND MANAGED TO CLOSE POSITIVELY ON THE STRENGTH OF SELECTIVE FEW STOCKS. WITH GM AND FORD WAITING FOR A DESPARATE BAILOUT,  THERE IS GLOOM OVER AUTO INDUSTRY. ASIAN MARKETS ARE TRADING LOWER AND NIKKEI IS DOWN BY 98 POINTS AT THIS TIME.

 

NIFTY FUTURE YESTERDAY OPENED LOWER AT 2760 AND WAS IN THE NEGATIVE ZONE THROUGHOUT THE DAY.  ON A VOLATILE DAY NIFTY WENT DOWN TO THE LOW OF 2655 AND CLOSED AT 2683 LOSING 116 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  2616, 2520,2360 RESIST 2758, 2815,2890. NIFTY  FUTURE IS GETTING WEAKER BY THE DAY AND LACK OF TRADING INTEREST  ADD TO THE WOES. WE MAY SEE THE LOWS AGAIN   IN THE COMING DAYS. AVOID SHORT FOR THE DAY ABOVE 2770. AVOID LONG BELOW 2600.

 

WIPRO  SUPP 230,223,196 RESIST 240,247 SELL

 

HINDALCO BELOW 52 MAY TOUCH 46

 

BANKBARODA SUPP 255,245 RESIST 265,275 SELL AT HIGHER LEVEL

 

HINDUNILVR BUY 228 SL 224 TGT 237

 

HINDUNPETRO SUPP 223 RESIST 235,244 BUY

 

MARUTI SUPP 486,463 RESIST 535 SELL

 

RELIANCE BELOW 1080 TGT  1000

 

SATYAMCOMP SUPP 236,222 RESIST 246,258 SELL AT HIGHER LEVEL

 

TATASTEEL SUPP 157 RESIST 172