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Intraday calls for 23-10-12

Posted on: October 23rd, 2012 at 8:29 am

Markets likely to open flat. Support for nifty is at 5630 and resistance at 5750.

Buy JP Power on dips

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508 Responses

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  1. H A M Says:
    October 23rd, 2012
    Posted at: 6:09 pm

    Gold hits 6-week low as equities weaken, dollar firms
    Gold prices fell 1 percent on Tuesday as the dollar firmed against the euro and stock markets fell, with appetite for assets seen as higher risk hurt by a credit downgrade of five Spanish regions and a raft of soft corporate earnings reports.
    In India, historically the world's largest bullion consumer, demand picked up as prices dipped ahead of a key festival season that is seen as an auspicious time to buy gold.
    Gold-backed exchange-traded funds, which issue securities backed by physical metal, saw inflows on Monday of around 112,223 ounces, with the bulk of inflows moving into New York's SPDR Gold Trust.

    Oil slips towards 87.25[near support levels] despite supply risks
    Oil eased towards $109 a barrel on Tuesday as investors brushed off Iran's threat to halt exports if the West tightens sanctions and focused on a fragile world economy and its impact on oil demand growth.

    Earnings, Spanish downgrades weaken shares, euro
    Lackluster corporate earnings and a credit rating downgrade of five Spanish regional governments weakened world shares and the euro on Tuesday, while expectations of stimulus in Japan hurt the yen.

    Europe shares hit 1-wk low, some results disappoint
    Tuesday's sell-off was across the board, with all the sectors on the STOXX Europe 600 falling. Basic resources shares topped the fallers' list by dropping 1.6 percent, mirroring sharp declines in metals prices that fell on persistent worries about global demand.
    "There has been an element of (earnings) disappointment so far as some of the statements remain downbeat given the global economic environment," Henk Potts, equity strategist at Barclays Wealth, said.
    "However, any weakness should be used by investors to increase their exposure to an asset class that continues to outperform. We like technology, energy and consumer discretionary sectors." said by Graham Bishop, senior equity strategist at Exane BNP Paribas.


  2. wajeed Says:
    October 23rd, 2012
    Posted at: 6:14 pm

    Hi HAM it seems you like when the market is in Red and give always updates how about when it is in green you never share the updates, thanks.


  3. H A M Says:
    October 23rd, 2012
    Posted at: 6:25 pm

    Hi wajeed, Because, it is as expected and btw, People r worried abt red rather than green.
    After this correction, when we all buy longs, I will post up-dates in green, till then, am helpless :)


  4. Munna Says:
    October 23rd, 2012
    Posted at: 6:31 pm

    Hi CB, Can we see 5650 on Thursday? Holding 20 lots of 5700 Put..


  5. H A M Says:
    October 23rd, 2012
    Posted at: 6:38 pm

    Hi wajeed, BTW, Am basically a BEAR and am good in bear markets but reacting according to the trend now-a-days practically :)

    Hi Munna, I misunderstood ur previous post, I thought u were holding 5600 PE, hence mentioned 50% chances. In case, if u were holding 5700 PEs, then it's no problem as this Oct F&O contract is likely to end below 5700. Probably today's global fall is a good for ur puts holdings.


  6. Munna Says:
    October 23rd, 2012
    Posted at: 6:57 pm

    Hi H A M, Thanks......


  7. wajeed Says:
    October 23rd, 2012
    Posted at: 6:57 pm

    Hi HAM, Nice to see your reply but for me i dont like red i like green always thanks.


  8. komsid Says:
    October 23rd, 2012
    Posted at: 7:06 pm

    GA all, Hi wajeed / HAM, by default market is always bullish, in between for some moths or at times years, returns are negative - bearish. Also for option traders, doesnt makes much of difference, only high volatility is needed.
    Rgdg the external effect, last week dow didnt effect nifty much, good results are that way helpful, hoping for the same to continue.


  9. NH Says:
    October 23rd, 2012
    Posted at: 7:18 pm

    Hi All - Good evening.


  10. H A M Says:
    October 23rd, 2012
    Posted at: 7:20 pm

    Hi Munna, Y'r always welcome....

    Hi wajeed, Ok, don't worry, soon u r going to see only green and green everywhere after this correction.

    Hi komsid, Yes, nifty didn't get affected to the global market's fall in previous cases and we shall also consider that Dow fell 205[on Friday]+200[Today's], approx -400 points in 3 days which is not at all a good sign for us too.
    Am in stock-market since 12 and half years and gone through many horrible bear-markets and as well as good bull-markets. As of now we r in bull-trend for medium-term and this correction shall be considered as buying opportunity. Let's hope for the best!!

    Hi NH, GE


  11. CB Says:
    October 23rd, 2012
    Posted at: 7:27 pm

    Hi Rohitc, no, not really sure.

    Hi H A M, most welcome

    Hi Munna, yes, does seem so. lets see how US markets close.

    Hi NH, Good evening.


  12. nv Says:
    October 23rd, 2012
    Posted at: 7:28 pm

    I was so bearish all this time ....and finally changed my mind and went long in Nifty Futures Nov series @ 5740 ...... now the global markets are down over 1.5 % ..... all hopes on RBI Monetary Policy


  13. Prams Says:
    October 23rd, 2012
    Posted at: 7:29 pm

    Hi H A M, Hi H A M, GE,good to hear ur genuine BEAR..ru still holding 5600 PE??


  14. kb trader Says:
    October 23rd, 2012
    Posted at: 7:31 pm

    Hi CB, hey cb.. Ge .. . just send a mail.. please chek that.


  15. nv Says:
    October 23rd, 2012
    Posted at: 7:32 pm

    Hi H A M, r u a professional trader ...is trading ur full time occupation ?


  16. komsid Says:
    October 23rd, 2012
    Posted at: 7:37 pm

    Hi HAM, pls dont take personnel, today nifty is around 5700, means that by default its bullish, anyone who invested, say 10 yrs back, in index composite, and holding will be way above +ves. Bear markets are needed for the market to slow down - breath - and then run again. And as of now its not bearish, its stagnation, lots of people still making money incldg self in good stock investments. Yes my greed with the options has caused many losses for me but its a part of learning process.

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