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INTRADAY CALLS – 23/01/09 – VIJAY

MARKETS FACE A BARRAGE OF POOR RESULTS AND GLUM ECONOMIC DATA

IT WAS AN EVENTFUL DAY AT THE WALL ST. YESTERDAY WITH LOT OF ECONOMIC DATA

AND QUARTERLY RESULTS FROM THE BIGGIES AND MOST OF THEM WERE AS USUAL

NEGATIVE. MICROSOFT ANNOUNCED DISAPPOINTING RESULTS AND  DECIDED AGAINST

OFFERING AN OUT LOOK FOR THE REST OF THE YEAR. GOOGLE ALSO REPORTED A

SHARP DROP IN EARNINGS, BUT THEY WERE ABOVE ESTIMATES. JOBS AND HOUSING

CONTINUE TO BLEED. INITIAL AND CONTINUING CLAIMS FOR THE WEEK ENDING

JAN 17, WERE WAY BELOW CONSENSUS. HOUSING STARTS AND BUILDING PERMITS

WERE AT MULTI DECADES LOW. YET DOW MANAGED TO RECOVER FROM A LOSS OF

271 POINTS AT THE DAY`S LOW AT  7957 TO A LOSS OF 105 POINTS WHEN IT CLOSED

AT 8122AND NEEDLESS TO SAY IT WAS IN RED THROUGHOUT THE DAY. NIKKEI

FIRMLY BELOW 8000 WITH 237 POINTS LOSS AT THIS TIME.

NIFTY FUTURE  OPENED HIGHER AT 2707, PEAKED AT 2720, WENT DOWN TO

2660 AND CLOSED AT 2684 GAINING 12 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

OUR STOCK CALLS WILL RESUME SHORTLY

NIFTY FUTURE SUPP LEVELS 2670,2565 RESISTANCE LEVELS 2735,2780. HEAVY

VOLUMES IN OPTIONS NEAR THE PRESENT LEVELS OF NIFTY FUTURES KEEP

THE MARKET RANGE BOUND.THOUGH THE MARKETS FIND SOME STRONG SUPPORT

AROUND 2650 LEVELS, THE OUT LOOK IS WEAK AND A DECISIVE BREAK BELOW

2600 MAY BRING FURTHER NEW LOWS. AVOID LONG BELOW 2670 AND

AVOID SHORT ABOVE  2780 FOR THE DAY.

Stock calls : 23-Jan-2009

NIFTY FUTURE 29 JAN SIGNALS

Signal	Signal Price	Stop Loss	Target-1	Target-2	Target-3
Buy	2698	2684	2714	2743	2774
Short Sell	2677	2697	2668	2638	2609

HDFC Future

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY	Around 1404-1411	1388	1445	1465

RNRL

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	49.90	49	51	52.6
S.SELL BELOW	48.3	49.3	47.80	46.80

National Aluminium

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	203	195	209	218
S.SELL BELOW	191	194	184	172

SATYAM

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	30	29.2	30.3	32.2
S.SELL BELOW	29	29.4	28.5	27

BHARTI AIRTEL

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	624	607	634	650
S.SELL BELOW	604	610	594	566

BANK OF INDIA

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	249	246	251	256
S.SELL BELOW	244	247	242	238

NIFTY 3 Months CandleStick Chart

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