DOW(N) AND OUT

 

 

DOW JONES WAS DOWN TO 7800 LEVELS AFTER OPENING AND  MOVED IN TO THE POSITIVE TERRITORY ON AUTO INDUSTRY BAILOUT EXPECTATIONS, TOUCHING THE DAY`S HIGH OF 8187 IN THE  AFTER NOON, GAINING 190 POINTS FROM PREVIOUS CLOSE.. DOW STARTED SLIDING FROM THERE TO THE DACADE LOW OF  7506 AND CLOSED AT  AN MULTI YEAR LOW OF 7552 LOSING 444 POINTS. INITIAL JOBLESS CLAIMS  FOR THE WEEK ENDED NOV 15 SCALED TO A NEW HIGH OF 542000, SENDING THE MARKETS  DOWN  FOR THE FOURTH DAY  IN THE LAST FIVE DAYS. CRUDE AND OTHER COMMODITIES, WITH THE EXCEPTION OF GOLD, ARE FALLING TO NEW LOWS. ASIAN MARKETS ARE AS USUAL AND NIKKEI IS DOWN BY 224 POINTS AT THIS TIME.

 

NIFTY FUTURE YESTERDAY OPENED LOWER AT 2515, WENT DOWN FURTHER TO 2495 AND GRADUALLY RECOVERED ON SHORT COVERING TO THE HIGH OF 2575 AND CLOSED AT 2570 LOSING 39 POINTS FROM PREVIOUS CLOSE.

 

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 2490,2360 RESIST 2583, 2760.  NIFTY FUTURE MAY OPEN LOWER AGAIN ON FOLLOW UP. AVOID SHORT ABOVE 2590 FOR THE DAY. JUST AS DOW JONES NIFTY MAY ALSO BE HEADING FOR NEW LOWS IN THE COMING DAYS. MARKETS ARE AND WILL BE VOLATILE. NEVER CARRY A POSITION WITHOUT HEDGING. DUE TO PAUCITY OF TIME NO STOCK CALL TODAY. HAVE A GOOD DAY.

GLOBAL SENTIMENTS  WEIGH ON THE MARKET

 

 

WE  WROTE” MARKETS  ON QUICK SAND” WHEN EVERYBODY WAS EXPECTING A RECOVERY YESTERDAY AND ONCE AGAIN WE ARE ONE OF THE VERY FEW WHO CALLED IT RIGHT.

 

POUNDING ECONMIC DATA  CREATES BOTTOM LESS VALLEY IN THE CHARTS.  OCTOBER –CPI  FELL BY THE RECORD AMOUNT, THOUGH A GOOD NEWS  IN TERMS OF INFLATION, THE FEAR OF DEFLATION AND RECESSION OUTWEIGH THE GOODNESS. OCTOBER HOUSING STARTS AND BUILDING PERMITS DECLINED SHARPLY AND WERE BELOW EXPECTATIONS. FEDERAL RESERVE`S PROJECTION OF NEGATIVE GROWTH IN GDP WAS THE LAST NAIL FOR THE DAY. DOW  WAS BRIEFLY POSITIVE AT OPEN AND STARTED FALLING GRADUALLY TO END THE DAY AT ITS WORST LEVEL AT 7997, NEAR THE  LOWEST LEVEL OF THE DAY OF 7987 LOSING 427 POINTS.  DOW IS NOW A SHADE ABOVE THE YEARLY LOW OF  7773, WHICH WAS CREATED IN OCTOBER 08. THE SINKING CITI, WHICH WAS DOWN BY 23 PERCENT, BROUGHT FINANCIAL STOCKS TO ITS KNEES.  NO WONDER, ASIA IS DOWN AND NIKKEI IS BELOW 8000 WITH A LOSS OF MORE THAN 300 POINTS AS OF NOW.

 

NIFTY FUTURE WAS TRADING IN THE PLUS ZONE  TILL AFTER NOON AND FELL FROM THE DAY`S HIGH OF 2782 TO CLOSE AT THE LOWEST LEVEL OF THE DAY AT 2609 LOSING 74 POINTS FROM PREVIOUS CLOSE.

 

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 2615, 2520, 2360 RESISTANCE LEVELS 2760, 2815, 2890. ONCE AGAIN THE FUTURE  MAY OPEN LOWER. THE BOTTOM IS STILL ELUDING AND IS STILL AWAY. MAY BE THE MARKETS ARE HEADING FOR CAPITULATION IN THE COMING DAYS. HENCE NEVER TRY TO FIND THE BOTTOM AND CATCH A FALLING SWORD. WAIT FOR THE BOTTOMING OUT AND THOSE WHO  BUY FOR INVESTMENT  SHOULD BUY ONLY THEN, EVEN IF THE RATES ARE LITTLE HIGHER.  AVOID LONG BELOW 2600.  BANKING STOCKS MAY BE VOLATILE IN VIEW OF THE  CITI GROUP TROUBLES. WAIT FOR THE TRADES AND AVOID TRADING IN PANIC.HAVE A GOOD DAY. STOCK CALLS TOMORROW.

WE INTEND ADVISING  SELECTIVE HEDGED DERIVATIVE CALLS TO BEAT THE MARKET VOLATILITY. WE SHALL ADVISE LATER ABOUT IT

MARKETS ON QUICK SAND

 

 

THANKS TO  HP AND HOME DEPOT RESULTS WHICH TOPPED ESTIMATES , DOW  GAINED 151 POINTS  LATE IN THE DAY TO CLOSE AT  8424.  DOW  WAS VOLATILE AFTER OPENING FLAT, GAINED  204 POINTS AT THE HIGH LEVEL OF THE DAY AT NOON, ONLY TO FALL TO THE DAY`S LOW OF 8105 IN THE AFTERNOON SESSION AND MANAGED TO CLOSE POSITIVELY ON THE STRENGTH OF SELECTIVE FEW STOCKS. WITH GM AND FORD WAITING FOR A DESPARATE BAILOUT,  THERE IS GLOOM OVER AUTO INDUSTRY. ASIAN MARKETS ARE TRADING LOWER AND NIKKEI IS DOWN BY 98 POINTS AT THIS TIME.

 

NIFTY FUTURE YESTERDAY OPENED LOWER AT 2760 AND WAS IN THE NEGATIVE ZONE THROUGHOUT THE DAY.  ON A VOLATILE DAY NIFTY WENT DOWN TO THE LOW OF 2655 AND CLOSED AT 2683 LOSING 116 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  2616, 2520,2360 RESIST 2758, 2815,2890. NIFTY  FUTURE IS GETTING WEAKER BY THE DAY AND LACK OF TRADING INTEREST  ADD TO THE WOES. WE MAY SEE THE LOWS AGAIN   IN THE COMING DAYS. AVOID SHORT FOR THE DAY ABOVE 2770. AVOID LONG BELOW 2600.

 

WIPRO  SUPP 230,223,196 RESIST 240,247 SELL

 

HINDALCO BELOW 52 MAY TOUCH 46

 

BANKBARODA SUPP 255,245 RESIST 265,275 SELL AT HIGHER LEVEL

 

HINDUNILVR BUY 228 SL 224 TGT 237

 

HINDUNPETRO SUPP 223 RESIST 235,244 BUY

 

MARUTI SUPP 486,463 RESIST 535 SELL

 

RELIANCE BELOW 1080 TGT  1000

 

SATYAMCOMP SUPP 236,222 RESIST 246,258 SELL AT HIGHER LEVEL

 

TATASTEEL SUPP 157 RESIST 172

MARKETS STRUGGLE TO STAY AFLOAT

DOW JONES ONCE AGAIN WENT DOWN IN THE OPENING HOURS, RECOVERED TO THE HIGHEST LEVEL OF THE DAY AT 8571 AROUND NOON GAINING 74 POINTS, ONLY TO GET BACK TO THE LOWEST LEVEL OF THE DAY AT 8246 IN THE FINAL HOUR AND CLOSED AT 8273 LOSING 223 POINTS. CITI PLANS TO SLASH 52000 JOBS AND G-20`S FAILURE TO IMPRESS WERE ENOUGH TO BRING THE INDEX DOWN. OFFICIALLY JAPN AND EUROPE ARE UNDER RECESSION, BUT THE U.S. FROM WHERE ALL PROBLEMS WERE STARTED YET TO ACCEPT IT`S RECESSION. DOW MAY BE HEADING FOR NEW LOWS IN THE COMING DAYS. ASIA OPENED LOWER WITH NIKKEI AT MINUS 168 POINTS AT THIS TIME.

BACK HOME NIFTY FUTURE OPENED FLAT AND WENT UP TO 2849 AND NOSE DIVED TO THE LOW OF 2694 LOSING 133 POINTS, ONLY TO RECOVER TO THE POSITIVE ZONE BRIEFLY AND CLOSED AT 2799 WITH THE NET LOSS OF 28 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 2710,2671, 2616 RESIST 2815,2890,2950. NIFTY FUTURE MAY OPEN LITTLE LOWER ON GLOBAL CUES. WE ADVISE CAUTION AT HIGHER LEVELS AS SELLING IS EVIDENT WHENEVER THE MARKET RECOVERS.

WIPRO SUPP 236,230 RESIST 255,264

HINDALCO SUPP 52 RESIST 57,60 BELOW 52 MAY TOUCH 46

BANKBARODA SUPP 263,259,245 RESIST 275,284 SELL AT HIGHER LEVEL

HINDUNILVR BUY 229 SL 224 TGT 240

HINDPETRO SUPP 218,213 RESIST 226,232 BUY

MTNL SUPP 72,67 RESIST 76,82 BUY AT LOWER LEVEL

SATYAMCOMP SUPP 247,241 RESIST 259, 272 SELL AT HIGHER LEVEL

                                                                VOLATILE WEEK AHEAD

DOW JONES ON FRIDAY OPENED LOWER AND WENT DOWN FURTHER TO THE LOW OF 8469 LOSING 366 POINTS FROM THE PREVIOUS CLOSE AND RECOVERED SMARTLY IN THE AFTERNOON SESSION TO GAIN 88 POINTS AT 8923. LAST HOUR SELLING PULLED DOWN THE INDEX BACK TO ITS LOWS AND DOW CLOSED AT 8497 WITH THE DAY`S LOSS OF 337 POINTS ON TOP OF 552 GAIN ON THURSDAY. OCTOBER RETAIL SALES DECLINED 2.85 WHICH WAS BELOW EXPECTATIONS. WITH MORE BAD NEWS ON CONSUMER PRICE INDEX AND HOUSING STARTS EXPECTED THIS WEEK, MUCH VOLATILITY IS AHEAD. ASIAN MARKETS ARE WEAK AND NIKKEI IS DOWN BY 225 POINTS ATHTHIS TIME.

NIFTY FUTURE ON FRIDAY OPENED HIGHER AT 2895, BRIFLY WENT UP TO 2933, FELL TO THE LOW OF 2770 LATER IN THE DAY AND CLOSED AT 2827 IN A VOLATILE SESSION.

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 2785,2671.2616 RESIST 2890,2950,3055. ON FRIDAY WE ADVISED BOOKING PROFITS EVEN IF THE MARKET OPENS HIGHER. AS SAID THE MARKETS OPENED HIGHER AND CAME DOWN ON SELLING PRESSURE. NIFTY FUTURE STRUGGLES AT HIGHER LEVELS. AND WE EXPECT THE MARKET TO COME DOWN FURTHER IN THE COMING DAYS.. AVOID LONG BELOW 2770.. KEEP BOOKING PROFITS AT RESISTANCE LEVELS AND RE ENTER AT LOWER LEVELS.

WIPRO SUPP 235 TGT 246,254 AVOID LONG BELOW 230

HINDALCO BUY 54 SL 52 TGT 60 BELOW 52 MAY TOUCH 46

ARIND SUPP 16.5,15 RESIST 18.5,20

BANKBARODA SUPP 271 RESIST 285,292 SELL AT HIGHER LEVEL

HINDUNILVR BUY 228 SL 224 TGT 236,240

HINDPETRO BUY 213 SL 211 TGT 225,232

ICICIBANK BELOW 370 TGT 341

MTNL SUPP 70,67 RESIST 75 BUY AT LOW LEVEL

MARUTI SUPP 536,520 RESIST 554,570 SELL

SATYAMCOMP SUPP 260,251 RESIST 272,284 SELL

TATASTEEL SUPP 173,156 RESIST 184,194 SELL

DLF BELOW 231 TGT 212