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INTRADAY CALLS – 23/10/08

                                                      A  FALL THAT DOES NOT STOP

 

 

YESTERDAY WE HAD ADVISED NO LONG BELOW 3100 AND TO DAY YOU MAY SEE THE FOLLOWUP. WE HAVE BEEN CALLING NIFTY CORRECTLY ON ALMOST ALL THE OCCASIONS AND I ADVISE READERS TO MAKE USE OF IT.  THE AIM OF THIS COLUMN IS TO ENABLE YOU TO MAKE PROFITS IF YOU CANT AVOID DAY TRADING AND I HOPE AT LEAST YOU WILL NOT MAKE LOSSES. NEVER AVOID STOP LOSS OR HEDGING. TRADING SHOULD BE PLEASURE AND NOT PAIN. DONT HAVE THE URGE TO TRADE EVERYDAY AND ALWAYS. WAIT FOR THE SIGNALS TO TRADE. IF YOU START TRADING RIGHT FROM THE OPENING BELL TO TILL THE END LOT OF MONEY WILL BE MADE – OFCOURSE, BY THE BROKER. MORE TRADING METHODS WILL BE GIVEN LATER.

DOWJONES ON WEDNESDAY OPENED LOWER AT 9027 AND WAS GRADUALLY FALLING THROUGHOUT THE DAY ON MIXED EARNING REPORTS AND ON GLOBAL ECONOMIC RECESSION CONCERNS.  DOW FELL BY 698 POINTS TO THE LOWEST LEVEL AT 8335 AND RECOVERED TO CLOSE AT 8519 LOSING 514 POINTS FOR THE DAY.  NO CHANGE OF TREND IN THE ASIAN MARKETS WITH ALL OF THEM FALLING LOWER AND NIKKEI IS DOWN BY 478 POINTS IN THE MORNING SESSION.

NIFTY FUTURE WAS DOWN RIGHT FROM THE OPEN WITH THE DAY`S HIGH AT 3195 AND FELL TO THE LOWEST LEVEL OF 3045, A NEW LOW FOR THE SETTLEMENT AND CLOSED NEAR AT 3058.

NIFTY FUTURE SUPP LEVELS 3000,2959,2855 RESIST 3160, 3195,3265. WE HAVE BEEN ADVISING ABOUT THE WEAKNESS IN THE NIFTY FOR MANY DAYS AND AGAIN SAY THAT NIFTY MAY BE HEADING FOR A LEVEL OF 2600 IN THE COMING DAYS. NIFTY FUTURE IS EXPECTED TO OPEN LOWER ON GLOBAL CUES.  BOTTOM FOR THE NIFTY IS STILL NOT VISIBLE AND WE SHALL ADVISE WHEN AS AND WHEN IT OCCURS.  NO STOCK CALLS FOR THE DAY DUE TO PAUCITY OF TIME.

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE MARKET.HAVE A GOOD DAY. Replies At This ColoumN OR AT vijay.calls@yahoo.co.in

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