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INTRADAY CALLS – 29/12/08 – VIJAY

MARKETS GRASP FOR POSITIVE NEWS

DOW SEEMS TO BE QUIET AT THE FAG END OF THE EXTRAORDINARY YEAR NOT ONLY

BECAUSE OF VACATIONS, BUT BECAUSE OF INVESTORS AND TRADERS APATHY

TOWARDS THE MARKET. DOW ON FRIDAY WAS IN A NARROW RANGE  BETWEEN 8461

AND  8533 AND CLOSED AT 8515 GAINING 47 POINTS ON VERY LOW VOLUMES.  GM

GAINED NEARLY 13 PERCENT ON THE NEWS OF ITS FINANCIAL ARM  GMAC BECOMING

A BANKING HOLDING COMPANY. HOLIDAY SHOPPING SEASON 2008, WAS THE WEAKEST

IN RECENT YEARS FOR MOST OF THE RETAILERS EXCEPT AMAZON.COM. WITH KUWAIT

TURNING ITS BACK ON DOW CHEMICALS FROM THE $17.4 BILLION VENTURE,

THE SENTIMENTS ARE NOT PINK FOR THE COMING DAY. CRUDE GAINS ON ISRAEL STRIKES .

NIKEEI IS DOWN BY  70 POINTS AT THIS TIME AFTER OPENING POSITIVELY.

NIFTY FUTURE ON THE OPENING DAY OF JANUARY SETTLEMENT WAS A LOSER AS SAID

BY US ON FRIDAY . NIFTY FUTURE OPENED HIGHER ON FRIDAY AT 2974 AND STARTED

FALLING  TILL THE END TO THE LOW OF 2856 AND CLOSED AT 2866.

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

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

NIFTY FUTURE SUPP LEVELS  2820, 2801,2776 RESISTANCE LEVELS  2959,2996,3045. WE

ADVISED NO LONGS BELOW  2910 ON FRIDAY. AS EXPECTED BY US THE NIFTY FUTURE

WAS WEAK ON THE OPENING DAY OF THE SETTLEMENT AND MAY OPEN LITTLE

LOWER TODAY. AVOID LONG IF NIFTY TRADES BELOW 2800 FOR THE DAY.

TENSION WITH PAKISTAN, ISRAEL STRIKES AND CORPORTE RESULTS  ARE SOME

NEWS WHICH MAY KEEP THE MARKET VOLATILE IN THE COMING DAYS.. A CLOSE

ABOVE  3045 MAY  IMPART SOME STRENGTH TO THE MARKETS.

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