Quotes with Resistance & Support
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Intraday calls for 16-12-11

Posted on: December 16th, 2011 at 8:16 am

Markets likely to open flat, support for Nifty at 4680

Buy Jyothy Laboratories at 158, Target: 163, SL 154

To view technical analysis of DLF, IDFC, JSW Steel & Nifty – Click here.

3.00pm – Nifty has broken strong support at 4680. Avoid fresh longs for now. Technically Nifty can head lower to 4550 in coming days with strong resistance now at 4720

3.11pm – Book profit in JSW short at 504

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511 Responses

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  1. Imran khan Says:
    December 16th, 2011
    Posted at: 2:57 pm

    Hi KB,

    Do you think market will do year end rally this year or not?

    i am thinking may be market will rally till 4800 again before expire, what do you say?


  2. SUTLEJ Says:
    December 16th, 2011
    Posted at: 2:59 pm

    @ Imran- If Nifty Future close above 4720...then take call position...

    @ MAHE- u r in deep trouble...


  3. Kb Says:
    December 16th, 2011
    Posted at: 3:01 pm

    Hi SAI, hmm.. .

    Hi Imran khan, may not break low again .. but not sure yet. lets see


  4. CB Says:
    December 16th, 2011
    Posted at: 3:01 pm

    Hi Mahe, if possible enter a 190 put for now. quite a bit of selling pressure coming in

    Hi DJ, yes, hold it

    Hi Imran khan, no, dont enter a call yet

    just came online.


  5. CB Says:
    December 16th, 2011
    Posted at: 3:02 pm

    nifty has broken strong support at 4680. Avoid fresh longs for now. Technically Nifty can head lower to 4550 in coming days with strong resistance now at 4720


  6. Imran khan Says:
    December 16th, 2011
    Posted at: 3:04 pm

    Thanks CB, KB, and Sutlej :)

    we will wait till monday and then trade as per your suggestions, now i cleared all postional

    :) but i am in profits


  7. CB Says:
    December 16th, 2011
    Posted at: 3:04 pm

    Hi Imran khan, :) nice to hear that.. yes, lets wait till monday


  8. SAI Says:
    December 16th, 2011
    Posted at: 3:07 pm

    Hi CB is the down line rally over. can we expect some short covering


  9. SUTLEJ Says:
    December 16th, 2011
    Posted at: 3:07 pm

    @ Imran- Well done.....Folow me in FB 'SATADRU PAL/NIFTY FUTURE TRENDS'....Best of Luck.


  10. CB Says:
    December 16th, 2011
    Posted at: 3:07 pm

    Hi SAI, seems unlikely.. broken 4680 after long tme. could fall further.


  11. Lalith Says:
    December 16th, 2011
    Posted at: 3:08 pm

    Hi CB, GA sir, you know why I have come ;-)


  12. Kb Says:
    December 16th, 2011
    Posted at: 3:08 pm

    Hi CB, u put my post about banks in spam.. :PP 12:17


  13. CB Says:
    December 16th, 2011
    Posted at: 3:08 pm

    Hi Lalith, :) yes..


  14. Mahe Says:
    December 16th, 2011
    Posted at: 3:08 pm

    Hi CB, Shall i book the loss ?? DLF is 194 now :(


  15. test Says:
    December 16th, 2011
    Posted at: 3:09 pm

    cb sir should i buy any banking shares


  16. CB Says:
    December 16th, 2011
    Posted at: 3:09 pm

    Hi Kb, noo.. all are approved? ill chk

    Hi Mahe, yes. exit and enter a short. will help recover the loss by monday

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