Intraday Tips and Market outlook for 11 th of May.

US Markets ended higher.
Europe also ended higher.
Asia is trading flat to negative.
Expect the Indian markets to open in the same manner.
We may have a volatile section.

NIFTY magic levels
Current Spot - 3620.70
Support - 3585 and 3520
Resistance - 3680 and 3745

Day Trading ideas

Aban Offshores
Buy above 468 for targets of 474 and 481
Sell below 432 for targets of 428 and 425

IFCI
Buy above 27.10 for targets of 27.90 and 28.25
Sell below 25.25 for targets of 24.90 and 24.10

Kotak Mahindra Bank
Buy above 441 for targets of 446 and 449
Sell below 428 for targets of 422 and 417

LNT
Buy above 1002 for targets of 1012 and 1028
Sell below 984 for targets of 976 and 968

Happy Investing !

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Q3 Earnings Update!

My 2 cents on what to expect of the earnigs being announced today.

Reliance Industries - A big question mark on Q3, but whatever the management has to say today will define how the indexes move. It is most weighted stock in Senex & Nifty and is bound to pull its weight

Ranbaxy Laboratories Ltd - Good scrip to look out for especially after
Japan company merger. I think Healthcare is recession proof.

Bharti Airtel - Is expected meet estimates for Q3. But Outlook will be worrying due to saturation in current markets. Newer market penetration will require capital expenditure which will be hard to come by in Q4.

Idea Cellular - I am a seller of this Telecom company. With too much competion and a price war looming, margins will be affected, it will be difficult to survice without a merger with one of the bigger companies or even 2 smaller partners working together.

Kotak Mahindra - One of the better investment and financial banks. They seem to have limited exposure to any toxic assets. I will be a buyer of this stock at these levels. Earnigs should be encouraging.

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I am Tushar Makhija, co-founder of stockezy.com and like contributing to IndianMoneyPlus.com. I like the open minded approach of the authors. Looking to participate more. If you guys are interested in meeting many such like-minded bloggers and people interested in investing, check out stockezy.com

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