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INRADAY CALLS – 10/12/08 – VIJAY

NIFTY CRUCIALLY POISED

AFTER GAINING 298 POINTS ON MONDAY, DOW  OPENED LOWER ON TUES DAY AND WAS IN THE NEGATIVE THROUGH OUT THE DAY AND FELL TO THE LOW OF 8651 FROM THE PREVIOUS CLOSE OF 8934 AND MANAGED TO CLOSE AT 8691 LOSING 242 POINTS. PROFIT TAKING AFTER A FEW DAYS OF GAIN AND PROFIT WARNING FROM VARIOUS CORPORATES DID THE DAMAGE FOR THE DAY, EVEN THOUGH PENDING SALES WAS BETTER THAN EXPECTATION. ASIAN MARKETS ARE FLAT AND NIKKEI IS UP BY JUST 37 POINTS AT THIS TIME.

NIFTY FUTURE  OPENED HIGHER BY MORE THAN 100 POINTS AT 2819. MOVED UP FURTHER TO THE HIGH OF 2879,  AND CAME DOWN ON PROFIT BOOKING TO THE DAY`S LOW OF 2766 AND CLOSED AT 2792 PRUNING THE GAIN TO 76 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

WE WILL BE GIVING HEDGED DERIVATIVE CALLS TO BEAT THE VOLATILITY. MAIL TO US FOR DETAILS

NIFTY FUTURE SUPP LEVELS 2776, 2701,2673 RESIST 2870,2950,3055. LONGS FOR INTRA DAY SHOULD HAVE SL BELOW  2760, BELOW WHICH 2700 IS POSSIBLE.  AVOID SHORT ABOVE 2875. NIFTY IF STAYS ABOVE 2670 MAY TOUCH 3050 IN THE COMING DAYS. THE RALLY IS STILL A PULL BACK FROM THEMAJOR TREND AND MAY REVERSE ANY TIME.  HENCE KEEPBOOKING PROFITS AT HIGHER LEVELS.

WIPRO SUPP 235,224 RESIST 246, 254 SELL

HINDALCO BUY 47 SL 45 TGT 53

BANKBARODA SUPP  246,242 RESIST 255,259 BUY AT LOWER LEVEL

HINDUNILVR  BUY 238 SL 236 TGT 249

HINDPETRO BUY 219 SL 216 TGT 227,232

ICICIBANK BELOW 360 TGT 346

ONGC SUPP 636 RESIST 674,684 SELL

SATYAMCOMP SUPP 219,212 RESIST 235 SELL WITH SL 238