Quotes with Resistance & Support
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Intraday calls for 29-06-10

Posted on: June 29th, 2010 at 8:19 am

Markets likely to see a flat opening. Support for nifty is at 5250 and resistance at 5400

If markets show weakness later during the day, sell: ICICI Bank

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798 Responses

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  1. SunilRao Says:
    June 29th, 2010
    Posted at: 9:39 pm

    Hi LEO, Even though Indian economy is strong at the moment, Nifty cannot withstand higher levels if global markets remain weak. Nifty currently has very strong support at 4900 levels and very strong resistance at 5400 levels. Unless nifty manages to break one of these levels, we should trade within this range.


  2. SunilRao Says:
    June 29th, 2010
    Posted at: 9:53 pm

    Hi Deepak7791, Jindalstel has strong support at 600 levels. Would advice to hold it with strict S.L. @ 595 levels (closing basis).
    Wipro has strong support @ 377-386 levels. Would advice to hold it with strict S.L. @ 375 levels (closing basis).

    Please confirm with Cb/Kartik as well though.


  3. SunilRao Says:
    June 29th, 2010
    Posted at: 9:54 pm

    Good Night Kb. Take Care. :)


  4. Deepak7791 Says:
    June 29th, 2010
    Posted at: 10:01 pm

    Thank you very much Sunil Rao . Appreciate your help and kindness:)


  5. invest1 Says:
    June 29th, 2010
    Posted at: 10:02 pm

    hello -any calls i can take have 10K for a week in hand........CB - please advise


  6. Gitanjali Says:
    June 29th, 2010
    Posted at: 10:14 pm

    Hi CB , kindly tell .. will it be possible for gmdc to go below 123...[the sell price from the previous series]?? if not may I exit during early hours of trade ...as nifty may rise from lows..it does not matter if in loss this time ..


  7. SunilRao Says:
    June 29th, 2010
    Posted at: 10:14 pm

    Hi Gitanjali, It was only short covering that came in the last 30 mins of today's session. The clever lot had shorted in the morning and covered in the last 30 mins (The clever lot do err at times. The clever ones take a lesson from their errors.)

    Not sure of GMDC though (Not in my Market Watch List). Possibly may see some upmove in near term.

    I had shorted 2 lots of Nifty July futures today morning @ 5315 and covered after 3pm @ 5250 and again shorted 1 lot @ 5270 hoping to book profits tomorrow. :)


  8. SunilRao Says:
    June 29th, 2010
    Posted at: 10:16 pm

    Hi Deepak7791, Most Welcome


  9. Gitanjali Says:
    June 29th, 2010
    Posted at: 10:17 pm

    Hi Kb, Good Night ...study well.. sorry ,tell this often.. medical field is such, u are a student for another 10 yrs ...


  10. invest1 Says:
    June 29th, 2010
    Posted at: 10:20 pm

    Dear Sunil Rao,

    Could you please advise if i could put the 10K for a week - thanks.


  11. Vishal Says:
    June 29th, 2010
    Posted at: 10:25 pm

    Hi SunilRao... when can we see 4900 for NIFTY.. any chance?? What is the target for this weekend and July series?


  12. SunilRao Says:
    June 29th, 2010
    Posted at: 10:27 pm

    Hi invest1, No new calls at the moment as global markets are trading very weak. If Dow Jones breaks 9750 levels, we may see some steep downslide.


  13. SunilRao Says:
    June 29th, 2010
    Posted at: 10:35 pm

    Hi Vishal, Not sure about the targets for Nifty this weekend and july series as markets are yet to pick a direction and as such are very volatile. If Dow Jones breaks 9750 levels, we may see some steep downslide.


  14. Anil Says:
    June 29th, 2010
    Posted at: 10:42 pm

    Hi,

    Can we take 5200 PE at tomorrow's gapdown opening??


  15. Kb Says:
    June 29th, 2010
    Posted at: 10:43 pm

    Hi Gitanjali, Hmm.. Thanks dear.. i will do..
    :)


  16. Kb Says:
    June 29th, 2010
    Posted at: 10:45 pm

    Hi Gitanjali, In next 10 years.. i will start 10 new colleges .. Hahhaa..


    Good night dear .. take care . :P

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