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Intraday calls for 31-03-10

Posted on: March 31st, 2010 at 8:32 am

Markets likely to see a flat opening. Support for nifty is at 5250 and resistance at 5320.

Buy Corporation Bank at 488-492, target: 505. Stoploss: 481. – (if anybody still holding, continue to hold for 2-3 days, can see 510)

If markets show weakness later during the day, sell: Mahindra & Mahindra – (book profits at 535)

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597 Responses

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  1. suzane Says:
    March 31st, 2010
    Posted at: 7:26 pm

    Hi Kartik, so i should go with sbi magnum fund .. Thats for SIP na ??
    Whats ur view for Hdfc Top 200 sip , kotak opportunities fund sip and sundaram smile fund sip ??


  2. zaheer Says:
    March 31st, 2010
    Posted at: 7:34 pm

    whats tomorrow position


  3. kaustubh Says:
    March 31st, 2010
    Posted at: 7:40 pm

    Hi CB, any price target for contry club ?


  4. Ravii Says:
    March 31st, 2010
    Posted at: 7:49 pm

    Hello CB,
    ADP data is disappointed for US mkts ..if US close in Red..then what is the tight range for nifty 2morrow??


  5. suzane Says:
    March 31st, 2010
    Posted at: 7:56 pm

    cb/kartik , help me to understand chart and its movement ... If u see in bank nifty on 12th march its rsi was at 90% and till today its rsi bend to 71% ... Its falling and then too rate of bank nifty is increasing ... How to judge that its in overbought position and likely to short it ... Is that so we should short it below 60% ... What is the symbol to check whether we should short or buy ???


  6. Kartik Says:
    March 31st, 2010
    Posted at: 7:58 pm

    Hi ramsingh, book profits around 14

    Hi Krishna, mostly due to rupee depreciation, markets are likely to see some more downside next week, IT can do well in the Short run tough

    Hi kaustubh, 30 in a years time

    Hi suzane, Hdfc Top 200 SIP is also a good bet along with SBI magnum, not really sure abt kotak opportunities fund sip and sundaram smile fund sip

    Hi zaheer, likely to see some downside

    Hi Ravii, we might see 5230 levels tomorrow


  7. Kartik Says:
    March 31st, 2010
    Posted at: 8:08 pm

    Hi suzane, rightly said, but RSI alone cannot predict stock movements, try using it with other indicators such as MACD, Ichimoku clould, DMA's etc. If the stock traded below its Ichimoku cloud, along with its 9D and 26D avg, and if RSI is ni 70+ zone, then you may go short on it


  8. suzane Says:
    March 31st, 2010
    Posted at: 8:08 pm

    Hi Kartik, thanks ... In chartnexus itself inform me about the conversion line and base line ... What factor decisides whether red line will go up or down and what is the base line... How is it formed ??


  9. Kartik Says:
    March 31st, 2010
    Posted at: 8:11 pm

    Hi suzane, it is formed with the averages of the last 9 and 26 days, if a stock crosses its Clould as well as its Base and Conversion lines, they you may think of buying by also considering its RSI


  10. suzane Says:
    March 31st, 2010
    Posted at: 8:14 pm

    what to see in macd ?? Is that so blueline 26d moving above red line 9d indicates buying and vice versa for sellling ??


  11. Ravii Says:
    March 31st, 2010
    Posted at: 8:19 pm

    Thanks a lot Kartik...


  12. SunilRao Says:
    March 31st, 2010
    Posted at: 8:24 pm

    Hi Kartik, The Charts of SelMcl are currently looking good. What's your view on buying SelMcl @ cmp for Short / Med Term?


  13. ARIJIT DAS Says:
    March 31st, 2010
    Posted at: 8:27 pm

    Hi suzane,
    I AM HAVING A SIP FOR THE LAST 5 YEARS IN HDFC TOP 200 AND SBI MAGNUM SECTOR FUND UMBRELLA CONTRA GROWTH AND BOTH FUNDS HAVE GIVEN HADSOME RETURN TILL NOW. THOUGH U HAVE ASKED KARTIK WHO IS A BETTER EQUIPPED PERSON ON THIS FIELD, I COULD RESIST TO SHARE MY EXPERIENCE IN THIS REGARD.......................


  14. Sri Says:
    March 31st, 2010
    Posted at: 8:38 pm

    Hi CB

    I have brought sejal glass without knowing that i cannot sell it, hwo do you see the stock. When can i sell that stock


  15. Gitanjali Says:
    March 31st, 2010
    Posted at: 8:45 pm

    Hi Kartik, /HICB
    I would like u to have a look and tell me ,
    of my earlier holdings ..if in case I decide to exit from any one of them ..which would be the best one to exit first /liquidate please ?
    Punjlloyd -500 at 355.25 on 25/04/08- [-50.09%]
    Suzlon- 500 at 247 .85 on 14/03/08 [-71%]
    Rcom..350 at 592 ..[300 at 645. 20 on 08/02/08 &50 at 279.65 on 05/08/09] [-71.34%]

    There are others which cb has told me to hold on to - Rolta 500 at 293 .15 [average] [-38.96]
    Tata steel - 500 at 751.35
    unitech 1150 at 212.65 [of this I have been in touch recently with cb and shall do as he tells ]

    Tata motors is the only one of the lot from those days that did well ..and brought some cheer ..[I booked profit in part ]
    Thanks ,


  16. ajit Says:
    March 31st, 2010
    Posted at: 8:55 pm

    just see market stat on right side its a red

    so wat will be market direction for 2 moro ?

    suzane--in the chart not any indicator is good / bad --only changing the days to that indicator changes all reading .

    ONLY PRICE & VOLUME IS A TRUE VALUE

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