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psalm
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Post: #4756   PostPosted: Mon Aug 27, 2012 12:44 pm    Post subject: Reply with quote
SBI is trading in the important range of 1875-1860 range....last time the stock held this range, though went to 1859 for a moment but recovered well and bounced back to test 1933 levels.....This time, its the repeat....current rate is around 1865....the low made as of now is around 1862.....for bullish traders, this is a good opportunity to buy as they'll be able to place a stoploss below 1850 or so...but for bears, they'll be watching the range 1860-1850...if broken, the stock will be under tremendous selling pressure, I feel....watch out...
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psalm
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Post: #4757   PostPosted: Mon Aug 27, 2012 1:25 pm    Post subject: Reply with quote
psalm wrote:
SBI is trading in the important range of 1875-1860 range....last time the stock held this range, though went to 1859 for a moment but recovered well and bounced back to test 1933 levels.....This time, its the repeat....current rate is around 1865....the low made as of now is around 1862.....for bullish traders, this is a good opportunity to buy as they'll be able to place a stoploss below 1850 or so...but for bears, they'll be watching the range 1860-1850...if broken, the stock will be under tremendous selling pressure, I feel....watch out...




New low...the low made as of now is around 1856...
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psalm
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Post: #4758   PostPosted: Mon Aug 27, 2012 1:29 pm    Post subject: Reply with quote
A few German Data will be announced at 1.30pm.....not extremely sensitive data though....but still watch out for DAX....
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psalm
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Post: #4759   PostPosted: Mon Aug 27, 2012 1:33 pm    Post subject: Reply with quote
Weaker than expected data.....German IFO BUSINESS CLIMATE (AUG) comes in at 102.3 Vs expected 102.7. It was 103.3 earlier.
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SP50
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Post: #4760   PostPosted: Mon Aug 27, 2012 1:44 pm    Post subject: Reply with quote
psalm wrote:
Weaker than expected data.....German IFO BUSINESS CLIMATE (AUG) comes in at 102.3 Vs expected 102.7. It was 103.3 earlier.


DAX goes up.
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psalm
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Post: #4761   PostPosted: Mon Aug 27, 2012 1:53 pm    Post subject: Reply with quote
taxmann50 wrote:
psalm wrote:
Weaker than expected data.....German IFO BUSINESS CLIMATE (AUG) comes in at 102.3 Vs expected 102.7. It was 103.3 earlier.


DAX goes up.


That's what happens these days....Tax.....by the way, some of the data was worst since the beginning of 2009......but still the markets are going up...expecting this deteriorating situation will prompt the gov to sanction more steroids.... Laughing ....anyway, let's wait and see.... Smile
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psalm
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Post: #4762   PostPosted: Mon Aug 27, 2012 1:59 pm    Post subject: Reply with quote
QE is a dream....means could get materialize in the future or may never.....

but the reality is this...check this article......regarding the comments by the CEO of BHP Billiton, world's largest Mining company:

http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=157687&sn=Detail
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psalm
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Post: #4763   PostPosted: Mon Aug 27, 2012 3:29 pm    Post subject: Reply with quote
All the banks are looking weak....
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psalm
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Post: #4764   PostPosted: Mon Aug 27, 2012 3:50 pm    Post subject: Reply with quote
APKA, Where are you??...hope everything fine with you.....
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psalm
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Post: #4765   PostPosted: Tue Aug 28, 2012 9:18 am    Post subject: Reply with quote
Market has opened almost flat and is trading around 5355 levels at this point of time. Immediate support for the market is around 5332, where it has considerable support. If gone below 5332, levels there is good chance of chance of testing 5312 levels. So, I consider the range 5332-5312 as a very good support range. If broken, then next major support for the market will be around 5275. On the upside, market has immediate resistances at 5363 and 5377 levels. However, major resistance for the market will be in the range 5387-5399. So, any upside up to this range can be used to exit LONGs or initiate fresh SHORTs. If the market is able to break above 5400 levels, there is chance of it testing 5420 levels which will be tough to crack, I feel.

NOTE: Since the market is not showing any bias on the selling side, there is possibility of it bouncing back after testing lower supports. In that case, there is good chance for us to test the previous highs or even 5470 levels before further selling. So, one should be careful around these levels, as the uncertainties still there regarding the direction of the market.
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vinay28
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Post: #4766   PostPosted: Tue Aug 28, 2012 9:36 am    Post subject: Reply with quote
generally it's a buy time when axis bank comes near 1022. Smile
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psalm
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Post: #4767   PostPosted: Tue Aug 28, 2012 9:38 am    Post subject: Reply with quote
vinay28 wrote:
generally it's a buy time when axis bank comes near 1022. Smile


So, let's see how it works out this time..... Smile
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SP50
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Post: #4768   PostPosted: Tue Aug 28, 2012 10:02 am    Post subject: Reply with quote
psalm wrote:
vinay28 wrote:
generally it's a buy time when axis bank comes near 1022. Smile


So, let's see how it works out this time..... Smile


I think it will be a thump up expiry to 5400.
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psalm
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Post: #4769   PostPosted: Tue Aug 28, 2012 10:10 am    Post subject: Reply with quote
taxmann50 wrote:
psalm wrote:
vinay28 wrote:
generally it's a buy time when axis bank comes near 1022. Smile


So, let's see how it works out this time..... Smile


I think it will be a thump up expiry to 5400.



No idea...where we'll end up on expiry....though my bias is still for the lower levels. Rolling Eyes
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psalm
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Post: #4770   PostPosted: Tue Aug 28, 2012 10:12 am    Post subject: Reply with quote
The market has found some support around 5332 as expected....current rate is around 5440.....
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