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INTRADAY CALLS – 20/02/09 – VIJAY

NIFTY FUTURE RESISTS A FALL, THE QUESTION IS HOW LONG?

AFTER A FLAT CLOSING ON WEDNESDAY, DOW JONES OPENED BETTER AND

WENT UP TO THE HIGH OF 7614, A GAIN OF 59 POINTS, ON SHORT COVERING,

BUT, COULD NOT HOLD ON TO THE GAIN  AND PLUNGED TO THE NEGATIVE TO

POST A LOW OF 7447, LOSING 108 POINTS. SOME SHORT COVERING IN THE

END ENABLED A CLOSE AT 7465, WITH A NET LOSS OF 89 POINTS. AS WE HAD

WRITTEN, BELOW 8000, DOW JONES WAS WEAK AND IT CLOSED AT A SIX

YEAR LOW.  WHILE LEADING ECONOMIC INDICATORS INCREASED BY

A BETTER .4 PERCENT, JOB LESS CLAIMS BEAT EXPECTATIONS AT 627000

AND CONTINUING CLAIMS AT NEARLY 5 MILLION, ALSO WORSE THAN

EXPECTED,  PULLED THE INDEX DOWN TO NEW LOWS.  ASIA TUMBLES AND

NIKKEI IS DOWN BY MORE THAN 100 POINTS AT THIS TIME.

AS EXPECTED,NIFTY FUTURE HAD ANOTHER DULL DAY BETWEEN 2793 AND

2755 AND CLOSED WITH A GAIN OF 25 POINTS AT 2792.

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 2718,2688 RESISTANCE LEVELS 2805,2900.

WE MAY HAVE A SLIGHTLY LOWER OPENING. AVOID LONG BELOW 2710

AND SHORT ABOVE 2815 FOR THE DAY. AS WE HAD SAID OPEN POSITIONS

IN OPTIONS KEEP MARKET IN A NARROW BAND AND THE FALL IS RESISTED.

BUT , THE OUT LOOK IS NEGATIVE  AND A BREACH DOWN MAY BRING

NEW LOWS.

Stock calls : 20-Feb-2009

NASDAQ UPDATE

Stocks at Nasdaq were unable to hold early gains as sellers entered the action and pushed the Dow below its November lows. The Dow logged its lowest intraday level and closing level since 2002.

NIFTY FUTURE 26 FEB SIGNALS

Signal	Signal Price	Stop Loss	Target-1	Target-2	Target-3
Buy	2795	2770	2800	2810	2835
Short Sell	2760	2780	2750	2745	2735

WIPRO FUT

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY AROUND	219	211	223	227
REMARKS	INTRADAY

WIPRO

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	221	213	225	230
SELL BELOW	211	217	210	205

SPICE TELECOMMUNICATIONS

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	83	78	89	97
SELL BELOW	78	80	72	64

WWIL (WIRE & WIRELESS)

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	16	15.2	16.8	17.8
SELL BELOW	14.9	15.6	14.3	13.2

TECH MAHINDRA

Action	Trigger Price	Stop Loss	Target-1	Target-2
BUY ABOVE	270	259	280	295
SELL BELOW	254	260	244	227

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Tags: day trading calls, intraday stock calls, nifty signals