Intraday calls for 24-08-11

Quotes with Resistance & Support

Market Information

Intraday calls for 24-08-11

Posted on: August 24th, 2011 at 8:32 am

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Markets likely to open flat, resistance at 4950, Support at 4830

Sell Hindalco at 145.50, Target: 141, SL 149

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592 Responses

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setul Says:
August 24th, 2011
Posted at: 7:01 pm
i have 3 lots of m&m put @ 680 for august series what is your view on that
CB Says:
August 24th, 2011
Posted at: 7:11 pm
Hi Sunil Rao, Good evening.
Hi suzane, yes, its at strong support levels. can expect a bounce from here.
Hi setul, below 700 looks a bit weak. can test 685-690 tomorrow.
suzane Says:
August 24th, 2011
Posted at: 7:14 pm
Hi CB, what is its support point ?? Is it possible for it to move 50 rupees in 5 days ?
Gitanjali Says:
August 24th, 2011
Posted at: 7:23 pm
Hi CB, Thanks.Why did bank nifty fall by 2% .. Was there any news/announcement today..? Till yesterday, all were optimistic ,and had given buy calls in bank nifty...
Gitanjali Says:
August 24th, 2011
Posted at: 7:26 pm
HI Neelima , Priyanka, Hope all is well with you ...
Gitanjali Says:
August 24th, 2011
Posted at: 7:32 pm
Hi Sunil Rao, Will we be seeing 4600, before we get to see 5000? Is 4800 a strong support for this expiry..pl?
Sunil Rao Says:
August 24th, 2011
Posted at: 7:35 pm
Nifty closed on a very interesting support today. Nifty had tested -1250 on 50-day PWO support on last week's close and bounced back to -875 yesterday and again retested -1000 today. A breach of this level can lead Nifty back to 4750-60 levels and even lower in the near term. However a positive close on Nifty tomorrow, will generate a shamu pattern, which will signify the start of a sharp pullback which a lead Nifty to 5200-5250 levels. As Nifty is resting at this crucial level and also due to expiry, Nifty may remain quite volatile tomorrow. So trade with caution and keep strict stoplosses.
Sunil Rao Says:
August 24th, 2011
Posted at: 7:37 pm
Hi Gitanjali, I hope my above post has answered your question.
Gitanjali Says:
August 24th, 2011
Posted at: 7:49 pm
Hi Sunil Rao, Yes.. Thanks a lot.
thavva Says:
August 24th, 2011
Posted at: 7:50 pm
Hi Sunil Rao, GE, seems 4960 acting as resistance for nifty right? Yesterday & today it tested multiple time and came down. considering US&UK markets we may open bit higher tomorrow. what's ur view?
Sunil Rao Says:
August 24th, 2011
Posted at: 7:55 pm
Important levels for Nifty tomorrow: 4814, 4841, 4867(strong support), 4894, 4921, 4948, 4975(strong resistance). Strong moves may be seen above / below strong resistance / support.
palanivel Says:
August 24th, 2011
Posted at: 8:00 pm
HI Sunil ji,ge.tatasteel huge loss booking today. unexpected selling pressure coming days how reacted tatasteel.please suggest sunil ji.
MM Says:
August 24th, 2011
Posted at: 8:07 pm
HI Sunil Rao,
WHAT IS PWO.And how its calculated
Sunil Rao Says:
August 24th, 2011
Posted at: 8:10 pm
Hi Gitanjali, Most Welcome.
Hi thavva, For tomorrow, Strong Resistance at 4975. As per my view, I still comprehend an upmove within next series as -1000 on 50-day PWO would provide strong support. But we would need to trade cautiously as of now and hold hedged positions. A breach below -1000 on 50-PWO after this 2 day pullback, could result in a steep fall.
naonia Says:
August 24th, 2011
Posted at: 8:10 pm
bob what is the lower leve lseen tomorrow
Siddhu Says:
August 24th, 2011
Posted at: 8:15 pm
Double dip tea ?