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INTRADAY CALLS – 08/12/08 – VIJAY

GLOBAL MARKETS FLOAT ON BAILOUTS AND STIMULUS PACKAGES

DOW JONES SURPRISINGLY REVERSED FROM THE  LOSS OF 258 POINTS AT 8118 TO MAKE IT TO THE DAY`S HIGH OF  8686 AND CLOSED WITH THE GAIN OF 259 POINTS AT 8635. THE MARKET FELL EARLIER ON THE NON FARM PAY ROLLS DATA FOR NOVEMBER WHICH WAS WAY BELOW EXPECTATION AT 553000.  THE UNEMPLOYMENT RATE NEARING 7%  IS HIGHEST IN THE LAST 15 YEARS.  FINANCIALS, ALONG WITH THE  EXPECTED BAILOUT FOR AUTO MAKERS PLAYED THE KEY ROLE IN THE DAY`S REVERSAL TO THE POSITIVE ZONE. ASIAN MARKETS ARE MILDLY POSITIVE AND NIKKEI IS UP BY 73 POINTS.

NIFTY FUTURE  WENT UP IMMEDIATELY AFTER OPENING TO THE HIGH OF 2822, FELL  TO THE DAY`S LOW AT THE END TO 2694 AND CLOSED AT 2716  LOSING 77 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 2701,2673, 2565 RESIST 2815, 2845,2890. DONT JUMP TO BUY IF THE MARKET OPENS MUCH HIGHER ON STIMULUS PACKAGE, AS WE FEEL THE EUPHORIA MAY BE SHORT LIVED, BECAUSE THE SIZE OF THE PACKAGE FALLS SHORT OF EXPECTATION.  BOOK PROFITS AT HIGHER LEVELS AND ENTER ONLY AT LOWER LEVELS. AVOID SHORT FOR THE DAY ABOVE 2815. AVOID LONG BELOW 2670.

WIPRO SUPP 223,219 RESIST 235,246 SELL

HINDALCO  BUY 49 SL 46 TGT 53,55.5

BANKBARODA SUPP 243,234 RESIST 255,259 SELL AT HIGHER LEVEL

HINDUNILVR BUY 231 SL 229 TGT 239,249

HINDPETRO  SUPP 223,215 RESIST 234,245 BUY AT LOWER LEVEL

SATYAMCOMP SUPP 219 RESITS 231,235 SELL AT HIGHER LEEVEL SL 238

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