DOW JONES CONTINUED TO FALL FROM WHERE IT CLOSED EARLIER,  SUNK TO THE DAY`S LOW BY NOON LOSING 189 POINTS AND PARED LATER IN THE DAY, ONLY TO FALL AGAIN AND CLOSED AT 11532, NEALY 109 POINTS LOWER. TO DAY THE FALL WAS DUE TO INVENTORY REPORTS ON CRUDE AND GASOLINE ALONG WITH OFCOURSE FINANCIAL NEWS. BANK OF AMERICA FELL BY 7 PERCENT BECAUSE OF  IMPENDING LEGAL WOES TO ITS `ACQUIRED COUNTRYWIDE FINANCIALS.` WITH INVESTMENT BANKS CUTTING  EARNING ESTIMATES AMONG THEMSELVES AND DOWNGRADING EACH OTHER THE FINANCIAL SECTOR`S WOES DO NOT SEEM TO END.

ASIAN MARKETS OPENED NEGATIVE TO FLAT ON OVERNIGHT U.S. WORRIES AND STABILISING CRUDE PRICES. AS WE HAD SAID EARLIER METALS AND COMMODITIES SEEM TO PULL BACK FROM THEIR OVERSOLD LEVELS. AS EXPECTED SEBI HAD NOTHING TO SAY ON PN`S YESTERDAY,  BUT, THIS MAY CAUSE OUR MARKETS TO OPEN LOWER.

NIFTY FUTURE YESTERDAY OPENED LOWER AT 4511 AND WAS BETWEEN 4505 AND 4589 AND CLOSED AT 4562.

NIFTY FUTURE SUPP LEVELS 4502, 4460,4408 RESIST 4585, 4620,4655. NOT MUCH OF MOVEMENT IS EXPECTED AHEAD OF LONG WEEK END. A CLOSE BELOW 4460 MAY BE AN INDICATION OF WEAKNESS.  FURTHER RISE IN CRUDE PRICE MAY MAR THE SENTIMENTS. IF NIFTY HOLDS ABOVE 4400 WE MAY SEE FURTHER GAINS BEFORE THIS SETTLEMENT ENDS.  LONGS AT LOWER LEVEL WITH STRICT SL IS SUGGESTED.

GMRINFRA SUPP 106,103 RESIST 113,116 BUY AT LOWER LEVEL

BPCL SUPP 319,315 RESIST 329,335

BHARTIARTL BUY 811 SL 808 TGT 829,840

SCI SUPP 229, 221 RESIST 238,245 BUY

ZEEL SUPP 210,206 RESIST 217,225 SELL AT HIGHER LEVEL

IDFC SUPP 104,101 RESIST 109,112 BUY AT LOWER LEVEL

HCC SUPP  104,99 RESIST 113,116 BUY

CAIRN SUPP 237,233 RESIST 249 BUY

HINDALCO SUPP 138, 134 RESIST 146,149 BUY

SATYAMCOMP  SUPP 399,392 RESIST 415 BUY

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