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Intraday calls for 23-07-09

Posted on: July 23rd, 2009 at 9:24 am

Buy Welspun Gujarat at 200, target: 210. Stoploss: 197

If markets show weakness later during the day, Short sell: Reliance Power.

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459 Responses

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  1. PRADEEP Says:
    July 23rd, 2009
    Posted at: 5:28 pm

    At the CMP of Rs 415.45, Tata Steel is trading at a forward P/E of 8.6x and 6.2x the FY10 and FY11 earnings, respectively. Based on our DCF valuation, we have arrived at a target price of Rs 360 (assuming 12.2% WACC and a 5% terminal growth). Since, our target price provides a 9% downside potential from the CMP, we give a Sell rating to the stock," says Indiabulls Securities' research report.

    Baliga told CNBC-TV18, "We are not that bullish on Tata Steel. In fact for Tata Steel we feel the valuation is closer to 273-300, so this GDR from the company’s point of view was good because if they wanted to raise money possibly five months back they wouldn’t have got valuations anywhere close to where they are getting today.

    Sharma told CNBC-TV18, "In the short-term there is an uptrend to be seen and Tata Steel could do well but fundamentally internationally the steel sector is not doing well; the larger player like Arcelor Mittal is running at a capacity of around 50% and Indian prices are much higher than that. So one thing that the steel players wanted was to put an embargo and steel imports which can’t be done because of the fact that the prices are already high, so there won’t be any government support.’


  2. PRADEEP Says:
    July 23rd, 2009
    Posted at: 5:32 pm

    TODAY TATASTEEL HAD a good addition of nearly 24 lakh shares in open interest. cb, how this is going to be react as the open positions good enough? will it touch 440? pls give me the right stop loss for this script.


  3. moh Says:
    July 23rd, 2009
    Posted at: 5:33 pm

    wow, pradeep,
    fab collection on TISCO.

    hi CB,
    ok, now i know why i could not browse the site today, the power failure had somthing to do with that ...


  4. manoj Says:
    July 23rd, 2009
    Posted at: 5:34 pm

    hi cb
    still holding shorts in mercator an nifty....market showed spectacular strength...wat do u say?


  5. RK Says:
    July 23rd, 2009
    Posted at: 5:49 pm

    Hi Pradeep, Tell me one thing how one can hold the short position? Let say I sell xyz stock in delivery and till what time I can hold this?


  6. PRADEEP Says:
    July 23rd, 2009
    Posted at: 5:52 pm

    RK, you cannot short sell on delivery but u can do so in margin for intraday. U can carry your short position for next day only in futures and options trading.


  7. akansha Says:
    July 23rd, 2009
    Posted at: 6:31 pm

    hi cb what is the target for suzlon, satyam,unitech and idea tommorow?


  8. CB Says:
    July 23rd, 2009
    Posted at: 6:32 pm

    Hi arun, Tata motors can see 352 in short term..it has resistance at 355 levels.

    Hi PRADEEP, yes.. hold for some more time.. upside in markets are limited from here. Tata steel has some resistance at 425-430 levels. keep sl around 428-430..

    Hi moh, not sure why site was down.. database is located in US..i shall check it out.

    Hi manoj, its more of a waiting game now.. hold it for some more time.. upside seems limited..


  9. CB Says:
    July 23rd, 2009
    Posted at: 6:33 pm

    Hi akansha, they can add 3-4% if markets open positive..


  10. Santhosh Says:
    July 23rd, 2009
    Posted at: 6:52 pm

    MIC has broken the resistance of 38-39 and closed @ 41 today. How much more upside can we see in this stock.


  11. Kartheek Says:
    July 23rd, 2009
    Posted at: 6:55 pm

    CB, nag in short term?


  12. kohli Says:
    July 23rd, 2009
    Posted at: 6:58 pm

    hi cb, i have bought moserbaer @ 86.50 and satyam at 104.40. what is the target for tomorrow. pl. suggest or whether is should wait for next to achieve the target. thanks


  13. RAJ Says:
    July 23rd, 2009
    Posted at: 7:06 pm

    hi, CB
    i have satyam 1000 @95 what should i do,,,,,, hold or sell
    if sell at what levels .


  14. dd Says:
    July 23rd, 2009
    Posted at: 7:12 pm

    Hi CB, I have bought ZEE Television as BTST, what is its target for tomorrow?


  15. sunil Says:
    July 23rd, 2009
    Posted at: 7:14 pm

    hi cb do u expect market to break previous high of 4650


  16. priyan Says:
    July 23rd, 2009
    Posted at: 7:18 pm

    Dear CB, one big doubt. I am also planing to concentrate on market. Now i have a better job but after 2 - 3 years i am planing to be become like a full on trading job. is it good idea? loose a job and try to become a trader? give me a better answer.

    thanks in advance
    Priyan

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