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Chat Transcript
30 Apr - 04:00 hrs
Shardul Kulkarni | Sr. Technical Analyst, Angel Broking
What are technical indicators saying?
Chat Transcript
| guest: i have 300 shares of DCM ltd . will they arise . because i bought them @77 rupees |
| Shardul Kulkarni: DCM has a strong resistance around 74. Hence, only a sustainable move beyond this level would attract buying interest in the stock. as present, the movement is very range bound and the support is seen at 58. it is advisable to hold the position by maintaining a sl of 57. Move beyond 74, the stock may test 86 - 95 levels. |
| guest: will nifty touch 6000 level |
| Shardul Kulkarni: 5976 is a very strong resistance for nifty. Hence, it is advisable to book your profits on existing long positions and aggressive traders can create short positions by keeping sl of 5980. Since, the level is so important and the current daily candle indicates uncertainty, it would be very difficult to comment whether this level would be broken. However, a sustainable move above 5976 would push it towards 6050-6100. |
| guest: WT IS THE MARKET POSITION SIR |
| Shardul Kulkarni: 5976 is a very strong resistance for nifty. Hence, it is advisable to book your profits on existing long positions and aggressive traders can create short positions by keeping sl of 5980. Since, the level is so important and the current daily candle indicates uncertainty, it would be very difficult to comment whether this level would be broken. However, a sustainable move above 5976 would push it towards 6050-6100. |
| guest: WILL NIFTY CROSS 6000 MARK IN MAY SERIES |
| Shardul Kulkarni: 5976 is a very strong resistance for nifty. Hence, it is advisable to book your profits on existing long positions and aggressive traders can create short positions by keeping sl of 5980. Since, the level is so important and the current daily candle indicates uncertainty, it would be very difficult to comment whether this level would be broken. However, a sustainable move above 5976 would push it towards 6050-6100. |
| guest: How is the outlook for ITC in may series |
| Shardul Kulkarni: ITC is trading in strong uptrend and every day its making new all time highs. Looking at the current momentum,the possibility of moving upwards is quite high. However, if the stock sustains below yesterday`s low of 326, then we may witness some intra day / near term weakness. |
| guest: PLEASE ADVICE ON MAHINDRA STAYAM I HAVE 3000 SHARES. |
| Shardul Kulkarni: the stock has a strong support around 99 level. if the stock breaks and sustains below this level then we may see near term weakness in the stock. in this case, it may slide towards 84 - 80 levels. on the higher side, 115 - 118 would act as strong resistance zone. |
| guest: Holding IDFC @ 180/-. when can I expect this price? |
| Shardul Kulkarni: the stock has a trading range of 163 to 151. if the stock trades below 151, then it is likely to test 143 - 138 levels. However, a move beyond 163 would push the stock towards 175-180. The possibility of reaching 180 increases only if nifty manages to cross 5976 level on closing basis. |
| guest: Hi Mr. Kulkarni... I am your big fan.. And on top of that I belong to Angel family, as I have been associated with it for the last 5 years as a client. I guess you are bearish on the market.. And in one of shows you had given a target of 5700 with the stoploss of 5910. Since Stoploss has been triggered so what |
| Shardul Kulkarni: that must be an intra day trade. Positionally, nifty has a strong resistance at 5976. As long as the level is not broken on the higher side, the possibility of testing 5780-5740 cannot be ruled out. |
| moderator: This chat has now ended. Thank you Mr. Kulkarni for sharing your views, and thank you viewers for your participation. |
Chat Transcript
30 Apr - 10:00 hrs
What's a good strategy in this market?
VP - Derivatives Research, Padmakshi Financial Services
