Intraday calls for 02-09-11
Markets likely to open lower, Support for Nifty at 4950 and resistance at 5050.
Sell Dr.Reddy with sl at 1520. target: 1470
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Lalith Says:
September 3rd, 2011
Posted at: 8:27 pm
Hi $tyle Icon, Thanks a lot for your call.. I'm already holding 4900 CE shorts... I too have a bearish look... Please advice whether I will be able to book profits in the coming week ? CB sir requesting your view on this as well ... It's strange even though world markets were in red we managed to close quite well in green...
Thanks in advance.
prasath bj Says:
September 3rd, 2011
Posted at: 8:30 pm
hi all see this news
The world economy is stepping into a "new danger zone," World Bank President Robert Zoellick said on Saturday, as growth slows and investor confidence weakens.
Speaking in Beijing, Zoellick urged Europe and the United States to tackle their debt problems, and noted that near record-high food prices and volatile commodity markets are threatening the most world's vulnerable people.
"The financial crisis in Europe has become a sovereign debt crisis, with serious implications for the Monetary Union, banks, and competitiveness of some countries," he said.
"My country, the United States, must address the issues of debt, spending, tax reform to boost private sector growth, and a stalled trade policy."
Turning to China, where he is leading a World Bank study on how the nation can improve its economic growth model, Zoellick was upbeat.
China is "well positioned" to become a "high-income" nation in the next 15 to 20 years, from its status as an "upper-middle income" country now, he said.
The question is whether China can avoid the "middle income trap", where national productivity and income growth stalls after per capita income hits USD 3,000 to USD 6,000, Zoellick said.
"If China were to continue on its current growth path, by 2030 it would have an economy equivalent to 15 of today's South Koreas, using market prices," he said.
"It's hard to see how that expansion could be accommodated with an export and investment-led growth model."
Although China is the world's second-largest economy, its per capita gross national income stands at just USD 4,260, World Bank data showed, less than a tenth of the USD 47,140 seen in the United States.
Critics have long said China relies too much on heavy investment and exports to drive its economy, and should encourage domestic consumption.For Chinese consumption to take off, analysts say China needs to cut income taxes, improve healthcare services and labour mobility, and reduce Beijing's share of national income by raising dividend payouts from state firms, among other measures.
CB Says:
September 3rd, 2011
Posted at: 8:39 pm
Hi Rajesh Iyer, yes, can test 1470
Hi $tyle Icon, thanks
Hi prasath bj, Good evening. thanks for the update. seems like a gap down opening on monday
Hi Lalith, yes, as of now seems markets may open lower on monday. hold the call with sl near 4950-4970 level
kumar Says:
September 3rd, 2011
Posted at: 8:41 pm
Hi cb/kartik,
what would the ITC fut tgt on monday?
Regards
Kumar
prasath bj Says:
September 3rd, 2011
Posted at: 8:41 pm
hii all see the news
10 experts, 25 stocks: Take your pic(k)
Published on Fri, Sep 02, 2011 at 18:24 | Source : Moneycontrol.com
SANJEEV PRASAD of KOTAK INSTITUTIONAL EQUITIES
"We could see another 25 to 50 basis points rate hike over the next two-three months as we are heading towards the end of the tightening cycle and, then, we can have stability."
Go for: Reliance Industries, TCS, Infosys, Mahindra & Mahindra Finance, LIC Housing Finance, Shriram Transport, Muthoot Finance
Avoid: Banks with exposure to infra stocks
anupam Says:
September 3rd, 2011
Posted at: 8:43 pm
can i buy j b chemical?
prasath bj Says:
September 3rd, 2011
Posted at: 8:45 pm
cb ok
Are you suggesting to me to exit my puts 4700 and 4800 put or
Is there any possible to touch nifty 4800 in this series ...?
CB Says:
September 3rd, 2011
Posted at: 9:45 pm
Hi kumar, can test 206.50
Hi prasath bj, thanks for the update
Hi anupam, no, looks weak. can fall further
Hi prasath bj, not sure of 4800 yet. as of now seems can test 4950 first.
prasath bj Says:
September 3rd, 2011
Posted at: 9:49 pm
hi cbb ok ... what is the strong resistance for reliance and tata steel
Kb Says:
September 3rd, 2011
Posted at: 10:37 pm
heyyy ..
Kb Says:
September 3rd, 2011
Posted at: 10:39 pm
Im new here . . cb .. wht that means ?? :P
CB Says:
September 3rd, 2011
Posted at: 10:39 pm
Hi prasath bj, reliance around 830 and tata steel around 515
CB Says:
September 3rd, 2011
Posted at: 10:40 pm
Hi Kb, :) nice one.. howz weekend going? hope all is well
Kb Says:
September 3rd, 2011
Posted at: 10:42 pm
Hi CB, :P . . going good... wht u doing? lets play??
prasath bj Says:
September 3rd, 2011
Posted at: 11:00 pm
hi kbbbbbbbbbbbb good evening
Kb Says:
September 3rd, 2011
Posted at: 11:02 pm
Hi himanshu, :P