Intraday calls for 06-09-11
Markets likely to open lower. Support for nifty is at 4930 and resistance at 5030.
Buy Steel Authority of India Ltd at 112-113, target: 117. Stoploss: 109 – (book profit at 117)
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trader Says:
September 6th, 2011
Posted at: 8:34 am
Can you please suggest one short candidate for the day?
Kb Says:
September 6th, 2011
Posted at: 8:35 am
GM bedi .. . sail is a nice one :)
Wasey Says:
September 6th, 2011
Posted at: 8:36 am
Hi CB/Kartik GM,
Could u clarrify if triple bottom means that that stock is ready to surge upside and the opposite is true if it is triple top that the stock will fall?
CB Says:
September 6th, 2011
Posted at: 8:36 am
Hi trader, one can short ICICI if markets remain weak after opening..
Hi Kb, Good morning.. thanks. markets need to recover a bit for it to do well
gayaram Says:
September 6th, 2011
Posted at: 8:37 am
Hi cb, GM. Shall i enter into sail in futures?
Hi Kb, GM.
CB Says:
September 6th, 2011
Posted at: 8:38 am
Hi Wasey, Good morning. it depends. if stock holds onto the support of triple bottom, it usually sees a good bounce.. if breaks it, corrects further.. on the upside if unable to cross the resistance usually sees selling pressure.. if crosses it, can add 15-20% in near term.
CB Says:
September 6th, 2011
Posted at: 8:38 am
Hi gayaram, Good morning. yes, but only if markets see some bounce after opening.
Wasey Says:
September 6th, 2011
Posted at: 8:41 am
Thanks CB, I asked because the list on this website shows DB Realty in triple bottom phase, but I could not see that formation on the charts for DB realty?