Quotes with Resistance & Support
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Intraday calls for 08-05-14

Posted on: May 8th, 2014 at 8:24 am

Markets likely to open slightly higher. Resistance for nifty is at 6760 and support at 6640

Buy JSW Holdings at 632, target: 647. Stoploss: 622 – (SL triggered in JSW holdings)

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371 Responses

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  1. ND Says:
    May 8th, 2014
    Posted at: 9:50 pm

    Hi Rojes,
    Thanks Rojes ..!


  2. TAPAN Says:
    May 8th, 2014
    Posted at: 9:50 pm

    Sir, today i have exit from jublient life sceince and still now i have holding STC india @197.8 & BRITINNIA @923 please advice me i am what to do


  3. Rojes Says:
    May 8th, 2014
    Posted at: 9:57 pm

    Hi ND,
    Did u c both the messages?


  4. Rojes Says:
    May 8th, 2014
    Posted at: 9:59 pm

    Hi TAPAN,
    A TIP: Please click the curved arrow button (at the bottom end of the Photo side) while replying to a comment or while posting a message to a person.
    This will automatically add “Hi NAME” in your reply/message. (NAME will be in bluish green color).
    Also when you click the NAME in a message, the screen will automatically go to the referred message/ Question to which reply was given. (Change the screen list to “show all” before doing this)
    Hope this info will be useful while using this site.


  5. ponraj Says:
    May 8th, 2014
    Posted at: 10:45 pm

    sir when to exit jubilant life?
    what is maximum level of profit expected.


  6. ibull Says:
    May 8th, 2014
    Posted at: 10:47 pm

    Hi DS, You said everything is rigged in Indian Stock Exchanges and technical bit doesnot count at all in your today’s post at 1:02 pm. I disagreed with you in my 1:10 pm post and said that to me price is the king and technical works.
    Let me prove it. Let us take into consideration Jubilant Food. Why Jubilant Food? Because that was the stock in which you lost much money trading in Futures. That is also the stock in which we had some discussions a few days back. When you went short in Jub Food at 950 on April 30th, you asked about my opinion. I told to keep a SL of 962 in Fut level on trigger basis (refer my post on April 30, 3:18 pm). At 3:19 pm on the same day, you asked whether you need to carry forward your shorts. Since only 11 minutes were there before markets would close, I replied “YES” and we will discuss the Stoploss later (refer post 3:23pm on April 30). Now refer our discussions from 3:27pm to 3:32pm on April 30. I said technically it looks weak unless THERE IS A REVERSAL. At 3:46 pm on the same day, you asked what are the chances of reversal and what can cause reversal. I replied at 6:46 pm on April 30, that some sort of reversal can only happen if it takes a U turn and closes above 968 but looks unlikely and 930 can be target. I also said anything can happen and so keep SL. 968 and 930 were spot levels. On Sunday , i.e., 4th May at 7:59pm I posted a word of CAUTION. As Jub Food closed above 968 on 2nd May, I said, if I was short, I would square off my position at opening on Monday, i.e., 5th May. Now, since its your short and your money I cannot force you to close your position in a loss on Monday. Therefore I said what I would have done if I was in your position.

    Now , did that reversal happened which I feared? Open the site chartink dot com. See the daily chart of Jubilant Food. As I said, for me Price is the King, see only PRICE and VOLUME. You dont have to put any technical indicators. Notice the highs and lows from 2nd May to 7th May. On 2nd May, it closed above 968. The closing was 970.20. Thereafter it went on to touch a high of 989 on May 7th.
    Only PRICE action in CHARTS made me give you a level of 968, above which a REVERSAL could have happened. AND IT DID HAPPEN.
    Now, even after reading this lengthy post, you feel technical analysis does not work, I can say nothing. But I can always wish you BEST OF LUCK in your trades :)


  7. ponraj Says:
    May 8th, 2014
    Posted at: 10:49 pm

    in short term.


  8. rahul Says:
    May 8th, 2014
    Posted at: 11:04 pm

    thank you CB sir.


  9. Rojes Says:
    May 8th, 2014
    Posted at: 11:08 pm

    Hi ibull,
    My my...that was long indeed....but interesting too...
    I fully support technical analysis....
    One theory is that the market actions repeat itself in time.
    Another theory is based on simple logic...when many traders follow technical analysis, there is a natural trend formed at resistances and support because so many people are acting at those levels....hence the action is seen in the price.


  10. Rojes Says:
    May 8th, 2014
    Posted at: 11:10 pm

    Hi ALL,
    Good night...
    c u all tomorrow. Hope markets will be good tomorrow and give all of us tons of profit... :-)


  11. Kartik Says:
    May 8th, 2014
    Posted at: 11:35 pm

    Hi Rojes, GE, Shasun Pharmaceuticals may open higher tomorrow, avoid entring it for now

    Hi rajasekar, continue hold Amara Raja Batteries for short term, can do well in the short term

    Hi rahul, most welcome


  12. mk Says:
    May 9th, 2014
    Posted at: 7:56 am

    Thanks CB for reply


  13. CB Says:
    May 9th, 2014
    Posted at: 8:14 am

    Hi mk, most welcome


  14. sanr Says:
    May 9th, 2014
    Posted at: 8:21 am

    Hi Rojes, where do you see tata global beverages before the poll results ?


  15. Kanna Says:
    May 9th, 2014
    Posted at: 8:31 am

    Hi ankush, Thanks Ankush sir. I am very new to this. So, I do not know all sort of jargans you guys use :)

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