Quotes with Resistance & Support
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Intraday calls for 21-06-11

Posted on: June 21st, 2011 at 8:29 am

Markets likely to open flat, next support at 5180

Buy Axis bank at 1225, Target: 1245, SL 1205 (trade in small quantity) – Book profit at 1249

1.54 pm – swing call: SELL ONGC at 258(FUT), Target: 250, SL 264

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493 Responses

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  1. gayaram Says:
    June 21st, 2011
    Posted at: 3:59 pm

    watch this http://www.youtube.com/watch?v=CjNovbdxZtc&feature=player_embedded#at=355


  2. Sunil Rao Says:
    June 21st, 2011
    Posted at: 4:00 pm

    Hi himanshu, Sorry, I was looking at 5200pe July series. If June, Book profits on rise for now.


  3. Neetu Says:
    June 21st, 2011
    Posted at: 4:02 pm

    Hi Sunil Rao, Today i buy 100 hind oil @167.50 so plz suggest me which target i sell tomorrow or which stoploss


  4. CB Says:
    June 21st, 2011
    Posted at: 4:07 pm

    Hi VIJAY, no, don't really see any news on this one

    Hi vamsi, these are fundamentally good bets. once markets improve, will do well. keep them for med/ long term

    Hi Akash, yes, hold it for 2-3 days.


  5. Neetu Says:
    June 21st, 2011
    Posted at: 4:08 pm

    Hi CB, Today i buy 100 hind oil @167.50 so plz suggest me which target i sell tomorrow or what's stoploss


  6. Sunil Rao Says:
    June 21st, 2011
    Posted at: 4:08 pm

    Hi shiva, Best things to watch out for a strangle:-
    1. Index / Stock near strong resistance / support levels.
    2. Index / Stock is moving in a small range and is directionless.
    3. Strangle formed by buying the Call just below the next strong resistance, and buying the Put just above the next strong support.

    Hi Neetu, Sorry, I don't track that stock. Cb / Kartik can help you on that.


  7. dhiva Says:
    June 21st, 2011
    Posted at: 4:10 pm

    hi cb,
    tomorrow nifty view? should u suggest any call or put in tatasteel,reliance,tatamotors or any other stocks tomorrow? pls suggest ....thanx in advance


  8. Sunil Rao Says:
    June 21st, 2011
    Posted at: 4:10 pm

    Hi CB, GA


  9. thavva Says:
    June 21st, 2011
    Posted at: 4:26 pm

    Reg. Yesterday's news:

    http://www.firstpost.com/investing/markets-the-m-word-why-mauritius-is-a-red-herring-28708.html?utm_source=MC_HOME


  10. Sunil Rao Says:
    June 21st, 2011
    Posted at: 4:37 pm

    Hi shiva, Also check the total cost of the strangle is less than the difference of the next resistance / support levels. And the target of the strangle would be ( that difference - decay in options) . So always keep a time frame for strangle as well so that the decay does not cut on your profits. The max decay within the time frame should be your SL.


  11. shiva Says:
    June 21st, 2011
    Posted at: 4:40 pm

    Hi Sunil Rao, great...thanks...but based on third point, currently , 5500 ce and 5200 pe forms a good strangle..what say...


  12. Sunil Rao Says:
    June 21st, 2011
    Posted at: 4:41 pm

    Hi thavva, Nice Post. This excerpt from it states it all:
    "But Tuesday’s rebound in the markets shows that Monday’s crash was meant to happen anyway, Mauritius or no Mauritius. Market insiders believe that the indices are heading down anyway and are looking for excuses to drop share prices. The M word came in useful for a day."


  13. Akash Says:
    June 21st, 2011
    Posted at: 4:52 pm

    Hi CB, Great. I will be happy if 5200 PE can see 100 and happiest person if it can see 200+. Any chance that it can see 200+. What price we can expect in 5200 PE June if Nifty sees 5020-5050 level.


  14. Akash Says:
    June 21st, 2011
    Posted at: 4:55 pm

    Hi Sunil Rao, You mentioned that 5200 PE June can see 160+ if Nifty sustains 5270 levels. What did you mean by "Nifty Sustains 5270". Does it mean that it goes below 5270 or around that level and do not cross 5300?


  15. CM Raghu Says:
    June 21st, 2011
    Posted at: 5:03 pm

    Hi all,

    I am a salaried person. Last year, I had 15k loss in day-trading in share market. can i get tax exemption for this loss? if yes, please tell how?

    Thanks in advance.


  16. CB Says:
    June 21st, 2011
    Posted at: 5:03 pm

    Hi Neetu, it has strng support at 160-162 levels. possible see some bounce from here. hold it with sl at 160 for now

    Hi dhiva, as of now seems may open a bit weak. you can enter a ongc 250 put. looks weak below 260

    Hi Sunil Rao, Good evening..

    Hi thavva, thanks for the link

    Hi Akash, not sure of 200 yet. 100 is likely if nifty continues to trade below 5300 for some time.

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