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INTRADAY CALLS – 11/12/08 – VIJAY

NIFTY UP ON VALUE BUYING

DOW JONES OPENED POSITIVELY AND WENT UP TO 8879 GAINING 188 POINTS AT DAY`S HIGH AND THE UNCERTAINITY OVER THE BAIL OUT OF THE AUTO MAJORS BROUGHT THE INDEX DOWN TO 8646 IN THE AFTER NOON,  DOWN BY 41 POINTS FROM THE PREVIOUS CLOSE. HOWEVER THE MATERIALS AND THE ENERGY SECTOR SAVED THE DAY FOR A SMART RECOVERY AND DOW CLOSED  AT 8761 GAINING 71 POINTS. ASIAN MARKETS HAVE OPENED LOWER ON TOP OF PREVIOUS FEW DAYS GAIN AND NIKKEI IS DOWN BY 78 POINTS ON PROFIT BOOKING AT THIS TIME.

NIFTY FUTURE OPENED HIGHER AT 2850, BRIEFLY TOUCHED 2827 AND RALLIED TO THE HIGH OF 2948 AND CLOSED AT 2932 GAINING 140 POINTS FROM THE 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

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

NIFTY FUTURE SUPP LEVELS 2845, 2776  RESIST 2950,3055. NFITY FUTURE MAY OPEN FLAT TO MILDLY NEGATIVE ON PROFIT BOOKING.  AS THE RALLY HAS STILL SOME STEAM LEFT WE ADVISE LONG WITH SL BELOW 2840 FOR INTRADAY.  AS SAID BY US YESTERDAY NIFTY FUTURE MAY TOUCH 3050. AVOID UNHEDGED CARRY OVER POSITION. KEEP BOOKING PROFITS SINCE THERE WILL BE OPPORTUNITY TO BUY AT LOWER LEVELS.