Intraday calls for 03-05-12

Quotes with Resistance & Support

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Intraday calls for 03-05-12

Posted on: May 3rd, 2012 at 8:26 am

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Markets likely to open slightly lower. Support for nifty is at 5220 and resistance at 5310.

Sell VIP Industries at 93, target: 89. Stoploss: 96 – (Avoid after gap down opening)

9.19am – Sell Tata motors at 301, target: 294. Stoploss: 307

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322 Responses

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CA.Tejas Says:
May 3rd, 2012
Posted at: 10:20 am
Three Stocks To INVEST
ANDHRA BANK (LONG)
Last close: Rs 119.20
Target: Rs 124
The stock has been on medium term uptrend since December, 2011 after making 52 week low at 76.50. Stock found support around 110-115 levels which was the 31.8% Fibonacci retracement level of upside rally from 77-140 levels. Subsequently, it started moving higher. Stock is still managed to trade above its short term and long term moving average. On daily and weekly charts, RSI and other momentum indicators have also signaled bullish. Buy this stock for the upside target of 124 with SL of 116. Traders with short term horizon can also make long position for the upside target of 135-140.

HDFCBANK (LONG)
Last close: Rs 549.90
Target: Rs 568-575
It is seen from the chart of the stock that it has been on a medium term uptrend since December, 2011 after making the trough at 400. In the last session, stock has formed the long “marubozu Japanese candlestick pattern" which indicates buying is more aggressive at current levels and also gave closing near to its day’s high. So buying momentum can continue for the upside target of 568-575 with SL of 540.

PIRAMAL HEALTH (LONG)
Last close: Rs 441.20
Target: Rs 458-463
Piramal healthcare has been trading on a bullish note for most part of this calendar year. After encountered the high at 494 on 12th march, stock retrace 31.8% Fibonacci retracement level of last upside rally from 380-495, resultant to form the short term down trend channel and now on verge of breakout of upper resistance line of channel. Stock is trading well above its 200 DMA and going to breach its short term moving averages. So buy this stock for the upside target of 458-463 with SL of 434.
CB Says:
May 3rd, 2012
Posted at: 10:21 am
Hi CA.Tejas, thanks
CB Says:
May 3rd, 2012
Posted at: 10:21 am
Hi dak, yes.
Ham Says:
May 3rd, 2012
Posted at: 10:22 am
Nifty to be in 5150-5350 range in May series: Edelweiss Sec
http://www.moneycontrol.com/news/market-outlook/nifty-to-be5150-5350-rangemay-series-edelweiss-sec_699727.html

Govt's public debt rises 5.4% in Jan-Apr 2012
http://zeenews.india.com/business/news/finance/govts-public-debt-rises-5-4-in-jan-apr-2012_46950.html
Dinesh Kumar Says:
May 3rd, 2012
Posted at: 10:23 am
K archana any way it was moving up only...
CA.Tejas Says:
May 3rd, 2012
Posted at: 10:23 am
Hi CB, Whether Can I buy Chambal Fertiliser
Akash Says:
May 3rd, 2012
Posted at: 10:24 am
Hi CB, Nifty is not moving. Hold 5400 CE?
CB Says:
May 3rd, 2012
Posted at: 10:24 am
Hi CA.Tejas, no, not yet.
CB Says:
May 3rd, 2012
Posted at: 10:24 am
Hi Akash, yes. hold it.
Dinesh Kumar Says:
May 3rd, 2012
Posted at: 10:25 am
CB VIP IND keep on going down.. what is the resistance level for it......
Akash Says:
May 3rd, 2012
Posted at: 10:25 am
Hi ARCHANA, You can buy Lovable for today and may be 1-2 days hold. Can see 410+ easily.
CB Says:
May 3rd, 2012
Posted at: 10:26 am
Hi Dinesh Kumar, below 93 does look weak. can test 84
G Says:
May 3rd, 2012
Posted at: 10:26 am
tatamotors made a new low 300.30
Dinesh Kumar Says:
May 3rd, 2012
Posted at: 10:26 am
CB can i buy VIP IND.. will it bounce back for small profit....
Ham Says:
May 3rd, 2012
Posted at: 10:27 am
Rupee may drop to 55 vs dollar: Manoj Rane, BNP Paribas
http://economictimes.indiatimes.com/opinion/interviews/rupee-may-drop-to-55-vs-dollar-manoj-rane-bnp-paribas/articleshow/12963060.cms
CB Says:
May 3rd, 2012
Posted at: 10:27 am
Hi G, yes. markets are seeing some selling pressure
Hi Dinesh Kumar, no, not yet.