Intraday calls for 24-09-10

Quotes with Resistance & Support

Market Information

Intraday calls for 24-09-10

Posted on: September 24th, 2010 at 8:19 am

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Markets likely to open flat. Nifty has support at 5930 and resistance at 6050

Buy Orchid Chemicals & Pharmaceuticals Ltd at 205-208, target: 214. Stoploss:199

Trade in small quantities

9.23am – Book profit in Tube investments at 148

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1,071 Responses

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Comment pages: 57 58 596061 62 63 64 65 Show all

SunilRao Says:
September 25th, 2010
Posted at: 6:20 pm
Hi Siddhu, The story of monkeys is very much justified for the Indian stock markets.
The Sensex and Nifty are currently trading at a P/E of about 25.
Compare it to the P/E of few of the largest companies of the world who have been steadily growing and generating more and more profits year after year over years. They can crush competition at will and raise prices of their products to generate more profits.
Coca Cola trades at a P/E of about 18
Wal-Mart trades at a P/E of about 13.5
Johnson & Johnson trades at a P/E of about 13
Microsoft trades at a premium of about 12
Now think about it. Does it make sense for Sensex and Nifty to trade at premiums that are much superior to the above world beating companies?
Gitanjali Says:
September 25th, 2010
Posted at: 6:41 pm
Hi CB, Hi SunilRao,
Could you kindly read this article [ if you haven't already] and kindly tell ..is there a chance of bringing in more order ,in to our mkts.?
http://economictimes.indiatimes.com/markets/indices/FIIs-must-stop-acting-on-behalf-of-few-individuals-SEBI/articleshow/6618921.
CB Says:
September 25th, 2010
Posted at: 6:45 pm
Hi harshal, m doing good. hope you doing good too.. have a good weekend
Hi Ton, Good evening
Hi SunilRao, Good evening..well said..
Hi Siddhu, nice one.. yes, convert if markets open higher on Monday.
Hi Gitanjali, yes, seems may open a bit higher. selling pressure is likely in the 6050-6100 range
SunilRao Says:
September 25th, 2010
Posted at: 6:48 pm
Hi Gitanjali, You may relax this week a bit. Some downside is likely this week. Overall RSI will remain negative on each day of the week on the daily charts with major dips on Monday and Friday and minimum on Wednesday. To break the negative RSIs, the markets need to be very strong.
ramsingh Says:
September 25th, 2010
Posted at: 6:49 pm
Hai CB!
What about your current view for Vision Corporation.Downtrend is over.
Next week any bounce we have to seen.This is posibilities.
SunilRao Says:
September 25th, 2010
Posted at: 6:54 pm
Good Evening CB, Thanks!
CB Says:
September 25th, 2010
Posted at: 7:12 pm
Hi ramsingh, seems to be holding onto 3.70-3.90 levels. can see some bounce
Hi Kb, good evening..
SunilRao Says:
September 25th, 2010
Posted at: 7:20 pm
Good Evening Siddhu, Sorry missed this comment earlier. Initially had a bitter experience in day trading but later realised, it is only wise to trade on your own capital and not on the margin provided by the broker. Since then I have had ups and downs in day trading but never a bitter experience. One can always convert a day trade to short term trade which is much safer, if it is technically looking good.
Paresh Thakkar Says:
September 25th, 2010
Posted at: 7:33 pm
Hi,
CB Says:
September 25th, 2010
Posted at: 7:40 pm
Hi S.MAHESH., GE
Hi Paresh Thakkar, GE
Hi Kb, Good evening
Hi ramsingh, it seems to be a downtrend, dont enter it yet
CB Says:
September 25th, 2010
Posted at: 7:45 pm
Hi ramsingh, around 1.80-2
Kb Says:
September 25th, 2010
Posted at: 7:45 pm
Hi CB, whts up cb ?
neelimakumar Says:
September 25th, 2010
Posted at: 8:50 pm
Hi SunilRao, Where u see d markets now.....any downside before expiry.....bought puts and worried now :(
Nat Says:
September 25th, 2010
Posted at: 9:03 pm
Whether we can hold or sell satyam.
PREMA Says:
September 25th, 2010
Posted at: 9:08 pm
Hi,CB
i have VAKRANGEE @81,TONIRA PHARMA@29,KALE @56
can i continue holding it..
Thks
Gitanjali Says:
September 25th, 2010
Posted at: 9:14 pm
Hi CB, Thanks for yr kind reply..It is nice to know that there will be selling at each high.here's hoping for the best ..
Hi SunilRao, Thanks for yr kind reply and for the encouraging words .Yes I read in your blog too regarding RSI ..Thanks again .
Hope you both & everyone here has a very good & relaxing sunday.