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INTRADAY CALLS – 12/02/09 – VIJAY

NIFTY FUTURE REMAINS STEADY DESPITE GLOBAL SELL OFF

WITH NO BIG ECONOMIC DATA SCHEDULED FOR THE DAY, DOW JONES

COOLED OFF  A BIT  AFTER THE HEAVY SELL OFF IN THE PREVIOUS

DAY . DECEMBER TRADE DEFICIT DATA AT $39.9 BILLION CONFIRMS

CONTRACTION IN WORLD TRADE.  THE INDEX WAS IN A NARROW

RANGE OF 132 POINTS, AFTER A WHOPPING MOVEMENT IN THE

PREVIOUS DAY.   DOW JONES GAINED 95 POINTS AT DAY`S HIGH OF

7983 AND LOST 36 POINTS AT LOWEST LEVEL OF THE DAY AND

CLOSED AT 7939 GAINING 59 POINTS FOR THE DAY.  ADVERSE

RETAIL SALES AND EMPLOYMENT DATA MAY IMPACT TOMORROW`S

TRADIND .ASIAN MARKETS ARE IN RED AND NIKKEI IS DOWN BY

185 POINTS AT THIS TIME.

NIFTY FUTURE  OPENED LOWER AT 2876, AND WITH LOW AT 2871

RECOVERED TO TOUCH 2939 AND  CLOSED AT 2938 GAINING

17 POINTS DUING THE DAY.

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 2875,2828 RESISTANCE LEVELS 2956,3018.

NIFTY FUTURE  DID NOT DO BELOW OUR SUPPORT LEVEL OF 2875 AND

RECOVERED TO POST MARGINAL GAINS AT THE END OF THE DAY. WE

EXPECT NIFTY FUTURE TO MOVE ABOVE 3000. AVOID

LONG BELOW 2870 AND AVOID SHORT ABOVE 3020.