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Intraday calls for 27-04-11

Posted on: April 27th, 2011 at 8:25 am

Markets likely to open flat, Support for nifty is at 5850 and resistance at 5920

Buy ONGC around 304, Target: 310, SL 299 – (book profit at 310)

2.10pm – Intraday cum btst: buy Indian Oil corp (IOC) at 338.60, target: 348. stoploss: 334

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473 Responses

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  1. Subhag Ghosh Says:
    April 27th, 2011
    Posted at: 10:06 pm

    Federal Reserve`s Federal Open Market Committee on Wednesday left its key interest rate at an historic low range of 0% to 0.25% and said its $600 billion bond-buying program would end as scheduled on June 30. Inflation has picked up and the Fed now says the economic recovery is proceeding at 'a moderate pace,' but the central bank still said the inflation pickup will be temporary and the jobs market is still a concern. The decisions were widely expected. The FOMC made only few changes to the language of the policy statement it issued in March and did not give guidance on the outlook of policy after the end of quantitative easing. The FOMC repeated that rates are likely to stay low for an 'extended period.' The Fed gave itself flexibility by adding that it would 'adjust' its holdings of Treasurys and mortgage-backed securities as needed. Attention now turns to Fed chairman Ben Bernanke`s first-ever news conference scheduled to begin at 2:15 p.m. Eastern. The Fed will also release its updated economic forecasts for 2011 and 2012 just before the press conference begins.


  2. cvrprakash Says:
    April 27th, 2011
    Posted at: 10:09 pm

    Hi Kartik,

    Thanks for your valuable suggestion.
    Technical reading, you prefer daily chart or weekly chart? Which is the major factor which drives you to gives us Swing calls?


  3. Kartik Says:
    April 27th, 2011
    Posted at: 10:11 pm

    Hi cvrprakash, daily and weekly help, look for Triple/Double top's/bottom's breakouts


  4. suzane Says:
    April 27th, 2011
    Posted at: 10:14 pm

    Hi Kartik, in chart of APIL is todays formation a doji star pattern. Will it reverse its trend and open gap down or will it turn negative ??
    Today i was unable to square my position and worried looking at doji pattern ., plz help me and guide me.
    Though its above the cloud and above 50, 100, 150 DMA. Am much confused and worried looking at doji star.
    Plz get me the target and stoploss for tommorow.


  5. cvrprakash Says:
    April 27th, 2011
    Posted at: 10:14 pm

    Thanks Kartik,

    Holding IOC today... Can I hold it for a week time or book it tomorrow?


  6. Subhag Ghosh Says:
    April 27th, 2011
    Posted at: 10:15 pm

    Dow is trading at 12636 (+40) on positive fed news, may see some more upside.If Dow closes above 1 % positive, be ready to witness short covering tomarrow, which may take nifty pass 5900 level.


  7. Kartik Says:
    April 27th, 2011
    Posted at: 10:17 pm

    Hi suzane, keep a trailing SL at 630, it might open flat

    Hi cvrprakash, hold it for some time, can do well once breaks 340


  8. suzane Says:
    April 27th, 2011
    Posted at: 10:20 pm

    Hi Kartik, how much chances to go up? What should be my strategy after opening ??
    Is my assumption for doji right ??


  9. Aman Says:
    April 27th, 2011
    Posted at: 10:27 pm

    Gud Evening Kartik..


  10. thavva Says:
    April 27th, 2011
    Posted at: 10:31 pm

    Hi Subhag Ghosh, Thanks for the update


  11. thavva Says:
    April 27th, 2011
    Posted at: 10:32 pm

    Hi All, good evening.


  12. Kartik Says:
    April 27th, 2011
    Posted at: 10:39 pm

    Hi suzane, Yes, it could add some gains if Markets manage to see some recovery, saw some consolidation today

    Hi thavva, GE

    Hi Aman, GE

    Hi Subhag Ghosh, thanks for the updates


  13. suzane Says:
    April 27th, 2011
    Posted at: 10:42 pm

    Hi Kartik, is it so doji pattern denotes tremd reversal? What target u suggest on upside for tommorow ?? Can it test todays high tommorow ??


  14. Kartik Says:
    April 27th, 2011
    Posted at: 10:53 pm

    Hi suzane, Yes, it had rallied quiet a lot in Intraday and saw profit booking at higher levels, it might trade flat tomorrow


  15. tejas gupta Says:
    April 27th, 2011
    Posted at: 10:59 pm

    Hi Kartik, thanks too much for your reply at 7.30 pm evening today.


  16. tejas gupta Says:
    April 27th, 2011
    Posted at: 11:04 pm

    Hi Kartik, sir u have replied me that if we manage to trade below 5850 for sometime tomorrow, exit from your CE's, enter Pe's to hedge.......
    can u tell me the puts which i have to buy tomorrow ??????

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