INTRADAY CALLS – 30/09/08 | Free Intraday Stock Tips

INTRADAY CALLS – 30/09/08

Â Â Â Â Â Â O

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â W

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â (N)

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â JONES

THE BAIL OUT SCHEME WHICH CREATED AN EUPHORIA IN THE MARKETS IN THE EARLIER TWO DAYS, TURNED OUT TO BE A CATASTROPHEÂ FOR THE DOW JONES,ON ITS FAILURE TO COME THROUGH. DOW JONES HAVING OPENED LOWER WAS DOWN BY AROUND 250 POINTS UNTIL THE VOTE FAILED ON THE SCHEME AND PLUNGED BY ANOTHER 400 POINTS IN FEW MINUTES AND ENDED THE DAY AT 10365, THE LOWEST LEVEL GIVING AWAY MORE THAN 777 POINTS, THE BIGGEST LOSS SINCE 9/11 AND NASDAQÂ AND S&P WERE THE BIGGEST SINGLE DAY LOSERS IN FEW DECADES. THE BAIL OUT HAS BECOME CONTAGIOUS AND AT LEAST FOUR CORPORATES ACROSS EURPOE HAVEÂ BEEN BAILED OUT DURING THE DAY.Â UNDERSTANDABLY, ASIAN MARKETS OPENED MUCH LOWER AND NIKKEI HAS LOST MORE THAN 550 POINTS AT THIS TIME.

NIFTY FUTURE HAD A PREMONITION OF THINGS TO COME AND STARTED FALLING RIGHT FROM THE OPENING BELL AND FELL TO THELOWEST LEVEL OF 3775 DURING THE DAY AND RECOVERED SOME LOST GROUND ON SHORT COVERING TOWARDS THE END AND CLOSED AT 3888.

WE ARE ONE OF THE VERY FEW WHO HAVE BEEN ADVISING ABOUT THIS FALLÂ FOR THE PAST FEW DAYSÂ AND NIFTY FUTURE MAY OPEN LOWER TODAY ALSO.Â

NIFTY FUTURE SUPP LEVELS 3804,3761, 3650 RESIST 3917,4100.Â NIFTY BELOW 3760 MAY GO DOWN TOÂ 3500 LEVELS AND MAY RECOVER FROM THE LOWS IN A DAY OR TWO ON SHORT COVERING. AVOID SHORT IF THE MARKET OPENS DEEP IN THE RED.Â WE FEEL THE LEVEL OF 3200 IS POSSIBLE AND HENCE ONLY PARTIAL INVESTMENT BUYING IS RECOMMENDED AT LOW LEVELS. WE MAY ENTER IN TO A MEDIUM TERM BEARISH RANGEÂ AT THESE LEVELS AND STAY THERE FOR A FEW MONTHS. WITH LOT OF VOLATILITY EXPECTED TODAY WE ADVISE CAUTION ON DAY TRADING.

STOCK CALLS RISKY HENCE NOT TODAY.

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