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INTRADAY CALLS – 31/12/08 – VIJAY

WHEN DATA ON CONSUMER CONFIDENCE (OR THE LACK OF IT?) WHICH   DROPPED TO

MORE THAN EXPECTED  TO AN ALL TIME LOW AT 38  WAS RELEASED DOW FELL TO THE

LOWEST LEVELS OF THE DAY  AND RECOVERED SMARTLY TO THE DAY`S HIGH OF 8675,

AND CLOSED AT 8668 GAINING  184 POINTS ON ANOTHER LOW VOLUMES DAY.

ACCORDING TO  S&P/CASE-SHILLER COMPOSITE INDEX  FOR OCTOBER, HOME PRICES

WERE DOWN 18% YEAR OVER YEAR.  FINANCIALS SAVED THE DAY FOR DOW JONES.

MOST OF THE ASIAN MARKETS ARE CLOSED FOR YEAR END.

NIFTY FUTURES  YESTERDAY OPENED AT 2949, FELL TO A LOW OF 2903 RALLIED TO 3012

AND CLOSED AT 2975  GAINING 38 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

NOTE:  SURE SHOT CALLS ARE GIVEN BY DSTREETDIRECT UNTIL WE START OUR CALLS.

NIFTY FUTURE SUPP LEVELS 2900,2820 RESISTANCE LEVELS 3045,3135. NIFTY

FUTURE MAY OPEN HIGHER ON U.S. GAINS AND MAY STAY POSITIVE FOR THE

DAY .  HOWEVER WE ADVISE  BOOKING PROIFTS AT RESISTANCE LEVELS.

QUARTERLY RESULTS MAY IMPACT THE MARKETS IN THE COMING WEEKS.