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INTRADAY CALLS – 24/12/08 – VIJAY

MERRY CHRISTMAS

SANTA CLAUS  MUST BE SLEDGING DOWN THE VALLEY AWAY FROM THE WALL ST AND

THE MAIN STREET AS WELL,  AS DOW JONES SLIDES FOR THE FIFTH DAY AND ANY

HOPE OF A YEAR END RALLY BURIED UNDER THE SHEET OF SNOW WITH FIVE

CONTINUOUS LOSSES AND THE  WHIMSICAL YEAR THAT BEGAN SO WELL ENDS

IN A WHIMPER.

DOW OPENED AND WENT UP TO THE DAY`S HIGH OF8604 GAINING 85 POINTS FROM THE

PREVIOUS CLOSE, BUT  FAILED  TO SUSTAIN THOSE LEVELS AND FELL TO THE LOW OF

8391 AND CLOSEDAT 8419 WITH MINIMUM THREE DIGIT LOSS ON LOW VOLUMES.

FINANCIALS WERE DOWN BY NEARLY TWO PERCENT. THE DATA ON NEW HOME SALES

AND EXISTING HOME SALES WHICH  DECLINED 2.9% AND 8.6% TO MULTIYEAR LOWS CUT

SHORT ANY  POSSIBLE RALLY. ASIAN MARKETS ARE NO BETTER AND ARE TRADING AT

LOSS WITH NIKKEI DOWN BY  207 POINTS AT THIS TIME.

NIFTY DECEMBER FUTURE  OPENED LOWER AT 3032 AND CONTINUED ITS FALL TO THE DAYS

LOW OF 2960 AND CLOSED NEAR AT 2974 LOSING 75 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

NIFTY FUTURE SUPP LEVELS 2950, 2930,2820 RESIST 3039,3112,3155. NIFTY FUTURE

MAY OPEN LOWER AND STAY RANGE BOUND  ON THE SETTLEMENT DAY AND

THE MOVEMENTS WILL BE STOCK SPECIFIC.  AS WE HAVE BEEN SAYING WE ARE

YET TO SEE A STRONG BOTTOM AND HENCE KEEP BOOKING PROFITS AT

HIGHER LEVELS. AVOID LONG BELOW 2930 FOR THE DAY.

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

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