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INTRADAY CALLS – 24/11/08 – VIJAY

 

  NIFTY UP ON SHORT COVERING

 

NIFTY FUTURE OPENED LITTLE HIGHER AGAINST EXPECTATION  AND ONLY ONCE DIPPED BELOW THE PREVIOUS CLOSE AND RALLIED TO THE DAY`S HIGH OF 2731 AND CLOSED NEAR IT GAINING 160 POINTS.

 

NIFTY FUTURE SUPP LEVELS  2583, 2490 RESIST 2760, 2815, 2890.  WE ADVISED AGAINST SHORT ABOVE 2590 ON FRIDAY. NIFTY WENT UP ON SHORT COVERING  AND WE ADVISE CAUTION AT HIGHER LEVEL AS IT IS STILL NOT A REVERSAL.  AVOID SHORT IF NIFTY STAYS ABOVE 2770. NO LONG BELOW 2580. LIQUIDITY MAY CONE DOWN IN THE COMING DAYS AND WE EXPECT MORE VOLATILITY.

DO NOT TRADE WITHOUT STOPLOSS  AND HEDGING IS THE ONLY WAY TO SUSTAIN IN THE MARKETS. REPLIES TO  VIJAY.CALLS@YAHOO.CO.IN

INTRADAY CALLS – 21/11/08

DOW(N) AND OUT

 

 

DOW JONES WAS DOWN TO 7800 LEVELS AFTER OPENING AND  MOVED IN TO THE POSITIVE TERRITORY ON AUTO INDUSTRY BAILOUT EXPECTATIONS, TOUCHING THE DAY`S HIGH OF 8187 IN THE  AFTER NOON, GAINING 190 POINTS FROM PREVIOUS CLOSE.. DOW STARTED SLIDING FROM THERE TO THE DACADE LOW OF  7506 AND CLOSED AT  AN MULTI YEAR LOW OF 7552 LOSING 444 POINTS. INITIAL JOBLESS CLAIMS  FOR THE WEEK ENDED NOV 15 SCALED TO A NEW HIGH OF 542000, SENDING THE MARKETS  DOWN  FOR THE FOURTH DAY  IN THE LAST FIVE DAYS. CRUDE AND OTHER COMMODITIES, WITH THE EXCEPTION OF GOLD, ARE FALLING TO NEW LOWS. ASIAN MARKETS ARE AS USUAL AND NIKKEI IS DOWN BY 224 POINTS AT THIS TIME.

 

NIFTY FUTURE YESTERDAY OPENED LOWER AT 2515, WENT DOWN FURTHER TO 2495 AND GRADUALLY RECOVERED ON SHORT COVERING TO THE HIGH OF 2575 AND CLOSED AT 2570 LOSING 39 POINTS FROM PREVIOUS CLOSE.

 

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 2490,2360 RESIST 2583, 2760.  NIFTY FUTURE MAY OPEN LOWER AGAIN ON FOLLOW UP. AVOID SHORT ABOVE 2590 FOR THE DAY. JUST AS DOW JONES NIFTY MAY ALSO BE HEADING FOR NEW LOWS IN THE COMING DAYS. MARKETS ARE AND WILL BE VOLATILE. NEVER CARRY A POSITION WITHOUT HEDGING. DUE TO PAUCITY OF TIME NO STOCK CALL TODAY. HAVE A GOOD DAY.

INTRADAY CALLS – 20/11/08 – VIJAY

GLOBAL SENTIMENTS  WEIGH ON THE MARKET

 

 

WE  WROTE” MARKETS  ON QUICK SAND” WHEN EVERYBODY WAS EXPECTING A RECOVERY YESTERDAY AND ONCE AGAIN WE ARE ONE OF THE VERY FEW WHO CALLED IT RIGHT.

 

POUNDING ECONMIC DATA  CREATES BOTTOM LESS VALLEY IN THE CHARTS.  OCTOBER –CPI  FELL BY THE RECORD AMOUNT, THOUGH A GOOD NEWS  IN TERMS OF INFLATION, THE FEAR OF DEFLATION AND RECESSION OUTWEIGH THE GOODNESS. OCTOBER HOUSING STARTS AND BUILDING PERMITS DECLINED SHARPLY AND WERE BELOW EXPECTATIONS. FEDERAL RESERVE`S PROJECTION OF NEGATIVE GROWTH IN GDP WAS THE LAST NAIL FOR THE DAY. DOW  WAS BRIEFLY POSITIVE AT OPEN AND STARTED FALLING GRADUALLY TO END THE DAY AT ITS WORST LEVEL AT 7997, NEAR THE  LOWEST LEVEL OF THE DAY OF 7987 LOSING 427 POINTS.  DOW IS NOW A SHADE ABOVE THE YEARLY LOW OF  7773, WHICH WAS CREATED IN OCTOBER 08. THE SINKING CITI, WHICH WAS DOWN BY 23 PERCENT, BROUGHT FINANCIAL STOCKS TO ITS KNEES.  NO WONDER, ASIA IS DOWN AND NIKKEI IS BELOW 8000 WITH A LOSS OF MORE THAN 300 POINTS AS OF NOW.

 

NIFTY FUTURE WAS TRADING IN THE PLUS ZONE  TILL AFTER NOON AND FELL FROM THE DAY`S HIGH OF 2782 TO CLOSE AT THE LOWEST LEVEL OF THE DAY AT 2609 LOSING 74 POINTS FROM PREVIOUS CLOSE.

 

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 2615, 2520, 2360 RESISTANCE LEVELS 2760, 2815, 2890. ONCE AGAIN THE FUTURE  MAY OPEN LOWER. THE BOTTOM IS STILL ELUDING AND IS STILL AWAY. MAY BE THE MARKETS ARE HEADING FOR CAPITULATION IN THE COMING DAYS. HENCE NEVER TRY TO FIND THE BOTTOM AND CATCH A FALLING SWORD. WAIT FOR THE BOTTOMING OUT AND THOSE WHO  BUY FOR INVESTMENT  SHOULD BUY ONLY THEN, EVEN IF THE RATES ARE LITTLE HIGHER.  AVOID LONG BELOW 2600.  BANKING STOCKS MAY BE VOLATILE IN VIEW OF THE  CITI GROUP TROUBLES. WAIT FOR THE TRADES AND AVOID TRADING IN PANIC.HAVE A GOOD DAY. STOCK CALLS TOMORROW.