Intraday calls for 02-08-11
Markets likely to open lower, support for Nifty at 5470 and resistance at 5540
Buy Ranbaxy at 560, Target: 568, SL 554
11.13 – buy hdfc bank at 484, target: 490. Stoploss: 479
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SAGAR Says:
August 2nd, 2011
Posted at: 9:49 pm
I think Its better to get in Investing in Pharma sector which can do well for short term. so I feel Dr reddy , Ranbaxy etc feels good !
Try in Pantaloonr also and
Havells' result tomorrow !
bipin Says:
August 2nd, 2011
Posted at: 9:50 pm
Hi CB,had shorted JP Associates at 69.5,what do u think is the target.
hitesh Says:
August 2nd, 2011
Posted at: 9:51 pm
At least 61 senators say they will vote to support a deficit reduction package that will allow the government to continue to borrow, ensuring the Senate will pass the bill and send it to President Barack Obama for his signature.
According to a tally by The Associated Press, 61 senators have said they will vote to support the package, including 40 Democrats, 20 Republicans and independent Joseph Lieberman of Connecticut.
Twenty senators have said they will oppose it, while the rest are either undecided or haven't stated their position.
The Senate votes the package Tuesday afternoon. Without the legislation, the government's ability to borrow would run out at midnight. The bill is subject to a 60-vote threshold to advance.
The House passed the bill Monday with broad bipartisan support.
Senate Debate Underway
"Finally Washington is taking responsibility for spending money it doesn't have," Sen. Lamar Alexander, (R)-Tenn., said at the start of debate.
The legislation, which easily passed the House on Monday, is virtually assured to clear the Senate shortly after noon Tuesday by a bipartisan tally. The White House promises Obama will sign the measure into law.
The legislation pairs an increase in the government's borrowing cap with promises of more than $2 trillion of budget cuts over the upcoming decade. Its passage caps a long, difficult battle between tea party-powered House Republicans and Obama—with House Speaker John Boehner caught in the middle more than once.
After months of fiercely partisan struggle, the House's top Republican and Democratic leaders swung behind the bill, ratifying a deal sealed Sunday night with a phone call from Boehner to Obama.
"I'm not happy with it," Minority Leader Nancy Pelosi, (D)-Calif., said. "But I'm proud of some of the accomplishments in it. That's why I'm voting for it."
Much of the measure was negotiated on terms set by Boehner, which included a demand that any increase in the nation's borrowing cap be matched by spending cuts at least as large. But it also meets demands made by Obama, including debt increases large enough to keep the government funded into 2013 and curbs on growth of the Pentagon budget.
Even though Obama strongly supported the measure, half of the chamber's Democrats opposed it. Sixty-six conservative Republicans opposed the measure as well.
Still, after storming the Capital in January—only to see bill after bill die in the Democratic Senate—many junior House lawmakers opted to view the legislation through the prism of optimism.
"It's about time that Congress come together and figure out a way to live within our means," said Rep. Sean Duffy, (R)-Wis. "This bill is going to start that process, although it doesn't go far enough."
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The measure would provide an immediate $400 billion increase in the $14.3 trillion U.S. borrowing cap, with $500 billion more assured this fall. That $900 billion would be matched by cuts to agency budgets over the next 10 years.
What follows next is more complicated. The measure establishes a special bipartisan committee to draft legislation to find up to $1.5 trillion more in deficit cuts for a vote later this year. They're likely to come from so-called mandatory programs like federal retirement benefits, farm subsidies, Medicare and Medicaid. The savings would be matched by a further increase in the borrowing cap.
There's no guarantee the committee, to be evenly split between the warring parties, will agree on such legislation. But there are powerful incentives to do so because more budget gridlock would trigger a crippling round of automatic cuts across much of the budget, including Pentagon coffers.
And questions linger about the effect the grueling political free-for-all will have on the U.S. credit rating.
Treasury Secretary Timothy Geithner told ABC News in an interview that he didn't know whether the debt-limit fight would cause America's AAA credit rating to be downgraded. "It's not my judgment to make," he said. Geithner also said he fears world confidence in the United States was damaged by "this spectacle."
The vote during Monday's dinner hour in the capital came after intense efforts at persuasion by the administration.
The White House dispatched Vice President Joe Biden to the Capitol to lobby recalcitrant Democrats in both House and Senate. He heard an earful, especially from liberal and black lawmakers upset that Obama surrendered on taxes and agreed to cuts from a budget ledger built up over the first two years of his term, when Democrats dominated Congress.
Aman Says:
August 2nd, 2011
Posted at: 10:11 pm
Hi CB..
How do u do..
Kaustabh Says:
August 2nd, 2011
Posted at: 10:24 pm
Hi Chirag.....should i buys some shares now for 20-25 days for short term....how is Eros ?? or any other Script ??
Deepak7791 Says:
August 2nd, 2011
Posted at: 10:26 pm
Hi CB
Any reasons for Huge fall in TTK Prestig? Please suggest have 200@ 3070 levels
Gitanjali Says:
August 2nd, 2011
Posted at: 10:43 pm
Hi Kb, Hi YOGI, THANKS A LOT.
Kartik Says:
August 2nd, 2011
Posted at: 10:54 pm
Hi Karthikeyan, both of them look weak, below 90 and 310, dont make fresh entries yet
Hi Deepak7791, seems profit booking, exit from it, below 2950 it looks weak, re-enter at Lower levels
Hi ARIJIT, can see 580 in a weeks time, above 555-560 looks strong
Hi SAGAR, GE, hope you doing well, nice to know that :)
Hi bipin, looks weak, exit from it
Hi hitesh, thanks for the update
Hi Aman, GE, fine, hope you too doing well
Kartik Says:
August 2nd, 2011
Posted at: 10:54 pm
Hi Gitanjali, GE
Gitanjali Says:
August 2nd, 2011
Posted at: 11:04 pm
Hi Kartik, GE , Is it good to short stocks like... ALBK or REC/ tomorrow..pl/ [which are trading below their major support levels ]
arun bj Says:
August 2nd, 2011
Posted at: 11:07 pm
hi kartik good evening . I bought reliance 860call today. . it today gave positive close . . Any short covering expected tomo . . . Can see 850 . Tomo .
Aman Says:
August 2nd, 2011
Posted at: 11:08 pm
Same here Kartik..
Gud nite Bro../
Have a sound sleep..
YOGI Says:
August 2nd, 2011
Posted at: 11:13 pm
Hi Gitanjali, u r welcome,still in dialama on us issue,they may use federal reserve gold
Gitanjali Says:
August 2nd, 2011
Posted at: 11:29 pm
Hi YOGI, OK..Thanks again...hope to enter a short position on any rise .. to make up for losses. Hope we do not open gap down tomorrow..
HI CB , Kartik, and all.. happy trading .
ARIJIT Says:
August 2nd, 2011
Posted at: 11:33 pm
HI ARUN bj
thanks dear....
Avinash Says:
August 2nd, 2011
Posted at: 11:37 pm
GE CB, ur view on bluestar pls? can it touch 300-310 lvls again by the end of the month?