Quotes with Resistance & Support
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Intraday calls for 23-04-12

Posted on: April 23rd, 2012 at 8:26 am

Markets likely to open flat. Resistance for nifty is at 5340 and support at 5270

Buy Tata Steel at 468-470, target: 478. Stoploss: 462 – (Book profit in Tata steel at 477.50-478)

1.36pm – Sell Jindal steel (fut) at 493, target: 480. Stoploss: 505 – (Book profit in Jindal steel at 484.50)

1.41pm – Exit HDFC bank at 547

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350 Responses

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  1. Gitanjali Says:
    April 23rd, 2012
    Posted at: 8:38 pm

    Hi SM, Yes want to hold for a few days more..!!will add 1 more lot.. Also ZINC never makes it above 105.4..Want to short there nextime .. for just intraday
    There had been a few data..that were good ..Which brought about the rally .In base metals..u think so ?How do u see silver now ... for akshaya thrithiya -a good buy?


  2. Gitanjali Says:
    April 23rd, 2012
    Posted at: 8:40 pm

    Hi SM, OK.. Will book .Thanks a lot :}


  3. SM Says:
    April 23rd, 2012
    Posted at: 8:40 pm

    Hi Gitanjali, Thanks a lot. Can wait for a dip in NG. What? snow in East Coast? demand is likely to rise then


  4. Gitanjali Says:
    April 23rd, 2012
    Posted at: 9:00 pm

    Hi SM, thanks ??[ for what??]Have booked ..profits in lead ..Thanks to you..
    Yes unusual Snow [for spring ]..had seen this on BBC..weather forecast..
    And so , covered ,at 107.60 ,the short position.. Lucky escape!!
    How does it look on the charts..plz?


  5. RAVI Says:
    April 23rd, 2012
    Posted at: 9:01 pm

    hi cb, badly struck in lanco infra is there any chance of bounce back. bought 15000 shares@ 16.55. should i get my price or book loss &short on any rise


  6. Kartik Says:
    April 23rd, 2012
    Posted at: 9:15 pm

    Hi RAVI, looks weak overall, would be better to exit

    Hi Dinesh Kumar, keep a tight SL at 5170 on Nifty and hold your CE

    Hi deep, enter a PE to headge, hovering around strong support levels for now

    Hi Kumar, seems may open higher by 1-2%

    Hi SM, GE, hope everything goes well

    Hi Rise, continue to hold it for shot term with a SL at 320

    Hi Kumar, both of them look weak, no news, Small-mid caps saw profit booking today, avoid adding more yet

    Hi vijay, support at 330, keep a SL at 329 and hold it for short term


  7. Kb Says:
    April 23rd, 2012
    Posted at: 9:23 pm

    APJ Abdul Kalam on BJP's list of probable candidates for President

    Hi Kartik, hi.. good eve. . :)


  8. Kb Says:
    April 23rd, 2012
    Posted at: 9:24 pm

    The UPA does not have a majority in the electoral college that elects the President


  9. cvrprakash Says:
    April 23rd, 2012
    Posted at: 9:25 pm

    Dear Kartik,

    Please suggest me on TCS after its result. Is it looking good?
    I am holding its 1150 CA bought last week @ 13. Now @4.50
    In huge loss. Any thing you suggest to minimize the loss, Please.
    Thanks.


  10. Kb Trader Says:
    April 23rd, 2012
    Posted at: 9:28 pm

    The NDA does not have a majority either . UPA as a whole is estimated to have 40 per cent, NDA has 30 per cent votes .. soo rest 30 % will decide :PPPPPP


  11. Gitanjali Says:
    April 23rd, 2012
    Posted at: 9:31 pm

    http://news.blogs.cnn.com/2012/04/23/mild-march-gives-way-to-april-snow-storms-in-the-northeast/?iref=allsearch


  12. Kartik Says:
    April 23rd, 2012
    Posted at: 9:32 pm

    Hi Kb, GE

    Hi cvrprakash, it may open higher, would be better to book on rise


  13. cvrprakash Says:
    April 23rd, 2012
    Posted at: 9:34 pm

    Kartik,

    Any way I can recover my loss in TCS? Today the option rate went too much down!!!

    Share your view on IVRCL Infra.
    What should be the SL for this as I am holding it @62


  14. Kb Trader Says:
    April 23rd, 2012
    Posted at: 9:36 pm

    Hi Kartik, :)

    Hi Gitanjali, :)


  15. SM Says:
    April 23rd, 2012
    Posted at: 9:36 pm

    Hi Gitanjali, Sorry, was not online and thanks for praying for my father's health :)
    1) Silver : Not sure for entering it now for Akshaya Trithiya. More of an industrial demand. On charts, it seems to have made a temp bottom at around 55400 zone. But unless it goes above 56000, better not to buy. One highly risky proposition can be to place a SL BUY ORDER just above 56000, but will not recommend that. Lets give Silver some time to settle. If your EQ account is still active, can consider buying some units of any Gold ETF for Akshaya Trithiya.
    2) NG : Above 104 looks good. But res zone at 105 - 105.50. Can wait for a dip or buy above res zone. Really a tough call to make :)
    3) Zinc : Still in uptrend, though profit booking is seen. Aggressive shorting can be done on a bounce with 105.30 as SL.


  16. SM Says:
    April 23rd, 2012
    Posted at: 9:37 pm

    Hi Kartik, GE and thanks :)

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