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INTRADAY CALLS – 23/12/08 – VIJAY

GLOBAL OUTLOOK FAR FROM COMFORT LEVEL

DOW JONES WAS IN THE POSITIVE ZONE ONLY IN THE INITIAL MINUTES AND WAS DRAGGED

DOWN BY TOYOTO MOTORS AND OTHER AUTO MAJORS ALONG WITH FINANCIAL SECTOR.

DOW FELL FROM THE OPENING HIGH OF 8601 TO THE LOW OF 8372  IN THE LATE AFTERNOON

AND MANAGED TO  TRIM SOME OF THE LOSSES IN THE FINAL MINUTES TO CLOSE AT 8519

LOSING 59 POINTS FOR THE DAY. LOW VOLUMES AIDED SHARP MOVEMENTS. SNOW STORMS

ADD TO THE WOES OF ALREADY DEPLETING RETAIL SALES AND THE SECTOR`S BEST SESAON

MAY HAVE NOTHING TO CHEER.

ASIAN MARKETS ARE GENERALLY WEAK AND NIKKEI IS CLOSED FOR Emperor’s Birthday.

NIFTY DECEMBER FUTURE OPENED AT 3065 AND WAS IN THE POSITIVE ZONE TILL  LATEAFTER

NOON WITH DAY`S HIGH AT 3118 AND  FELL TO THE LOW 3025 RECOVERED A BIT TO

CLOSE AT 3049.

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  3027,2950 RESIST 3112,3155. NIFTY FUTURE TOUCHED OUR

SUPPORT LEVEL AND CLOSED AT 3049. AHEAD OF THE SETTLEMENT NIFTY MAY HAVE SOME

SHARP SWINGS.  NIFTY MAY MOVE WITHIN THE RANGE, BUT WILL BE VOLATILE.  OUT LOOK

FOR THE COMING DAYS WILL BE ADVISED LATER.