ANOTHER DAY OF CARNAGE ON WALL STREET WITH DOW PLUNGING 225 POINTS IN THE DAY AND RECOVERED A LITTLE TO CLOSE AT 11479, DOWN 180 POINTS FOR THE DAY. THE REPORT OF  FANNIE AND FREDDIE HAVE TO BE BAILED OUT BY THE TREASURY PULLED DOWN THE MORTGAGE GIANTS BY MORE THAN 20% IN THE DAY ON FEARS OF EXISTING SHAREHOLDERS BEING WIPED OUT. CRUDE FALLING TO AROUND $112 DID NOT HELP THE FALLING MARKETS. NIKKEI DOWN BY MORE THAN 350 POINTS AHEAD OF BOJ ANNOUNCEMENT ON  THE STATE OF THE ECONOMY.

NIFTY FUTURE WAS RANGE BOUND AS EXPECTED BUT FEEW STOCKS DROPPED SHARPLY. NIFTY FUTURE YESTERDAY OPENED AT 4418,FELL TO 4392, MANAGED TO MOVE UP TO 4459  DURING THE DAY ONLY TO CLOSE LOWER AT 4407 LOSING 28 POINT FROM PREVIOUS DAY`S CLOSE.

NIFTY  FUTURE SUPP LEVELS 4370,4309 RESIST 4462, 4511. NIFTY FUTURE IS EXPECTED TO OPEN LOWER ON THE BACK OF U.S. AND OTHER ASIAN MARKET WORRIES.  OUT LOOK FOR THE NIFTY IS  SUBDUED  AND MAY NOT SEE GAINS  UNTIL IT CLOSES ABOVE 4510. AVOID ALL SHORTS ABOVE 4515. DESPITE NIFTY STAYING RANGEBOUND AT LEAST TWO OF THE TRADING CALLS TRIGGERED STOP LOSSES THAT SHOWS WEAKNESS IN SUCH STOCKS.

GMRINFRA SUPP 98,93 RESIST 107,112 SELL

BPCL BUY 301 SL 298 TGT 314

BHARTIARTL SUPP 802,790 RESIST 821,829 SELL AT HIGHER LEVEL

SCI SUPP 220, 212 RESIST 230 SELL

ZEEL SUPP 206,201 RESIST 216 BUY

IDFC SUPP 92,88 RESIST 99 BUY WITH SL 87

INDIACEM BUY 141 SL 138 TGT 151

CAIRN SUPP 237,232 RESIST 249 SELL

WIPRO SUPP 428,421 RESIST 441 BUY

HINDALCO SUPP 128,124 RESIST 134,141 SELL

HINDUNILVR BUY 237 SL 235 TGT 247

RELIANCE BELOW 2218 TGT 2180

SATYAMCOMP BUY 416 SL 413 TGT 428,460

INDIANB BUY 110 SL 107 TGT 118,126

DAY TRADING WII BE DIFFICULT  IF THE MARKET OPENS WITH A GAP ON EITHER SIDE. STICK TO LEVELS FOR TRADING OR WAIT FOR TOMORROW.

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