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INTRADAY CALLS – 28/08/08

LOW ROLL OVER AND LIQUIDITY – CAUSE FOR WORRY?

 

DOW JONES OPENED FLAT , MOVED LOWER BY 30 POINTS IMMEDIATLEY, RECOVERED SMARTLY TO THE DAY`S HIGH AT 11554, GAINING 142 POINTS AND CLOSED  AT 11502 SHEDDING SOME OF THE GAINS , ON THIN VOLUMES FOR THE THIRD DAY.  DURABLE GOODS  ROSE 1.3% MONTH OVER MONTH IN JULY BEATING EXPECTATION. TROPICAL STORM GUSTAV DEVELOPING IN TO A HURRICANE PULLED THE CRUDE PRICES SMARTLY TO $118 AND PUT THE BRAKES ON GAINING INDEX. HOWEVER FINANCIALS SAVED THE DAY. NIKKEI, AFTER OPENING HIGHER , TRADING MARGINALLY NEGATIVE AT THIS TIME.

NIFTY FUTURE  FELL FROM WHERE IT CLOSED ON 27.8.08. AFTER TRADING FLAT MOST OF THE DAY FELL TO THE DAY`S LOW OF 4281 ABD CLOSED AT 4290 LOSING 62 POINTS FROM PREVIOUS CLOSE ON MUCH LOWER VOLUMES. 

NIFTY AUGUST FUTURE SUPP LEVELS 4279,4252,4174 RESIST 4365,4409.DEPLETING VOLUMES INDICATE LOW APPETITE FOR CARYYOVER AND A CAUSE FOR CONCERN. LIQUIDITY IS DRAINING IN MOST OF THE STOCK FUTURES. ADDITIONAL 39 STOCKS INCLUDED IN THE DERIVATIVE SEGMENT DONOT HELP EITHER AS MOST OF THEM ARE HIGHLY ILLIQUID IN CASH MARKET. WE MAY ONCE AGAIN SEE A RANGE BOUND DAY AND VOLUME OF CARRY OVER MAY DECIDE THE SHORT TERM TREND. INFLATION AND CRUDE PRICE MAY INDUCE SOME MOVEMENTS. AVOID LONGS BELOW 4250.

GMRINFRA SUPP 98,93 RESIST 104,107 SELL AT HIGHER LEVEL

BPCL SUPP 293,287 RESIST 303,307 SELL

BHARTIARTL SUPP 792 RESIST 816,828 BUY SL 789

DLF SUPP 472,465 RESIST 491,502 SELL AT HIGHER LEVEL

ZEEL SUPP 211,207 RESIST 218,224 BUY AT LOWER LEVEL

IDFC SUPP 91,88 RESIST 96,99 BUY AT LOWER LEVEL

CAIRN SUPP 239 RESIST 248 BUY

INDIANB SUPP 119 RESIST 126,130 BUY SL 117

WIPRO SUPP 424,417 RESIST 434,440 SELL AT HIGHER LEVEL

HINDALCO SUPP 130 RESIST 141 SELL

HINDUNILVR BUY 242 SL 240 TGT 249,254

INFOSYSTCH SUPP 1690,1671 RESIST 1728,1742 SELL AT HIGHER LEVEL

RELIANCE SUPP 2140,2118 RESIST 2185,2205 SELL

SATYAMCOMP SUPP 398,388 RESIST 409,416 SELL

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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