Quotes with Resistance & Support
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Intraday calls for 14-09-10

Posted on: September 14th, 2010 at 8:21 am

Markets likely to open flat. Resistance for nifty is at 5800 and support at 5730

Buy Rane (Madras) Ltd at 149.60, target: 155. Stoploss: 146

Trade in small quantities.

10.01am – Buy Vardhman Polytex at 71-71.55, target: 74. Stoploss: 67 – (Book profits at 74)

1.09pm – buy technocraft industries at 74.10, target: 77, Stoploss: 71.50 – (book profits at 77.50)

1.55pm – buy tcs at 893, target: 905. Stoploss: 883 – (continue to hold for BTST, Target: 905-908)

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692 Responses

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  1. Preet Says:
    September 14th, 2010
    Posted at: 8:10 pm

    Hi Cb/karthik,

    I use ICICI Direct for demat. I think the brokerage charges are very high in icici.
    The brokerage I am paying is 0.96% for taking delivery.
    Can u suggest any low brokerage service provider or the source where I can compare others?


  2. CB Says:
    September 14th, 2010
    Posted at: 8:12 pm

    Hi Kb, don't have access to gmail yet..shall check in some time

    Hi Preet, yes. they charge quite a bit. go with religare or ventura


  3. Kb Says:
    September 14th, 2010
    Posted at: 8:17 pm

    Hi Preet, GEO JIT ...... 0.3 only.. ..


  4. Reddy Says:
    September 14th, 2010
    Posted at: 8:18 pm

    Hi CB, I bought FCSSOFT 30k @ 2.44, what is you are view on it. should i hold it for long term or shall i exit. please advise.


  5. SunilRao Says:
    September 14th, 2010
    Posted at: 8:21 pm

    Hi Gitanjali, I had the same habit to hold on to bears and sell off bulls. But the system, I now follow is to buy @ strong Support levels when the scrip is unable to break it for a few days keeping strict SL @ breach of support and sell it @ strong resistance levels and no timeframe for it. Some trades may close in a day or 2, others may take 4-5 months. The same scrip may be re-entered again on dips if it breaks the Strong resistance level.

    Before entering any trade, I set my Entry point, Stop Loss and Targets and re-adjust my Targets and S.L. on daily basis as per daily resistance and support. Finally after some experience learnt to overcome my emotions to hold on to losing trades and exit them the moment the SL is breached.

    Most of the times cost of carrying a losing trade is 100 times more than exiting it with minimum loses and re-entering even at higher prices if it turns favourable again.


  6. ganesh Says:
    September 14th, 2010
    Posted at: 8:22 pm

    Sir, What is the target price Nagarjuna Fert & Punjlloyd tomorrow ?


  7. SunilRao Says:
    September 14th, 2010
    Posted at: 8:24 pm

    Hi Gitanjali, Py stands for pyramid entry. It is kept just above the support level from where 95% of times we may see a bounce.


  8. AJ Says:
    September 14th, 2010
    Posted at: 8:38 pm

    CB,
    Whats your take on SMARTLINK NETWORK for short term?


  9. anand Says:
    September 14th, 2010
    Posted at: 8:40 pm

    Hi CB,
    How's NHPC for short term?


  10. LEARNER Says:
    September 14th, 2010
    Posted at: 8:48 pm

    ThanksCB Sir, if i hold my Ruchi SOYA lot uptill next month will it see 146 i can rollover my lots so asked


  11. LEO Says:
    September 14th, 2010
    Posted at: 8:51 pm

    Hi CB,

    Any tight Support found on index ...... Most of the run seen only on Index .....Whether Institutions & FII ,others trading only on INDEX .....If it so .. Any Correction expected Shortly ...Provide us our good Support lvls ..

    If the run like this . Only 6-7 Trading day is for all time High .....Any Hope to See that figure in this September ...


  12. SunilRao Says:
    September 14th, 2010
    Posted at: 8:51 pm

    Nifty likely to trade between 5766 - 5813 tomorrow. It may test 5831-35 on the higher side and may test 5743-48 on the lower side depending on global markets.


  13. LEO Says:
    September 14th, 2010
    Posted at: 8:53 pm

    Hi SunilRao,


    If test 5740-5750 lvls can we take position on INDEX .. for 30-40 points profit ...


  14. Wise Says:
    September 14th, 2010
    Posted at: 8:55 pm

    I have 2500 shares of Shree Ashtavinayak at avg price of 18. Is it a hold or sell at CMP?


  15. Kb Says:
    September 14th, 2010
    Posted at: 8:56 pm

    Hi SunilRao, wherr u puts audio alerts ??


  16. Gitanjali Says:
    September 14th, 2010
    Posted at: 9:03 pm

    Hi CB, Hi Kb, Thanks a lot.Tc,Hi SunilRao, Thanks plenty.. for sharing it with us ..It will certainly help many more here ..I often copy such info down and keep ,from here, .even if a reply to another ...
    And I agree,"Most of the times cost of carrying a losing trade is 100 times more than exiting it with minimum loses and re-entering even at higher prices if it turns favorable again." true enough , no use holding on when in loss ..agree particularly now when I see my portfolio..[ showing anywhere between 50 - 80 % loss [likes of rcom , suzlon ,unitech, punj..] Best of everything in all that you do. thanks.

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