BraViSa TempleTree-India Market Calls

[amitava82]

Still long on GVKPIL?

 

[d_s_ramesh]

The reactions that markets saw in the last trading session gives an early warning that 'everything is not so good with the markets now'. Strong moves up and down is a likely pattern for a broad range consolidation. Major front line stocks show indecisiveness. Traders requested to tighten theirs stops, thread cautiously. Trade only very clear patterns. A wait for a good pattern to occur pays rich gains.

 

[d_s_ramesh]

Dear Amitav,
GVKPIL has stopped out.

 

[d_s_ramesh]

Dear Stud,
LUPIN Is getting stronger with every move upwards. Daily chart is in long trade from 380 levels. Pull backs to value can be used to accumulate and add on to longs or trade fresh longs.

 

[PuneetAro]

Hi D S Ramesh,

What is your opinion about PIPAVAV Shipyard. The stock has been falling for quite a while now. Do you think the stock can go to Rs100 levels in 6-8 months. The Analysts say the stock is good longterm bet. If it is so, why the investors are dumping it just after their lockin period. I hold very small quantity of 50 shares around 85. Do you think I should initiate further investments inthe stock? I can hold it for 6-8 months.

Thanks

Puneet Arora

Dear Stud,
LUPIN Is getting stronger with every move upwards. Daily chart is in long trade from 380 levels. Pull backs to value can be used to accumulate and add on to longs or trade fresh longs.

 

[stud]

Dear Stud,
LUPIN Is getting stronger with every move upwards. Daily chart is in long trade from 380 levels. Pull backs to value can be used to accumulate and add on to longs or trade fresh longs.

Thank you for your suggestion.I just need a little more information.What is the value zone for lupin ? What price level can i enter at ?

 

[d_s_ramesh]

Thank you for your suggestion.I just need a little more information.What is the value zone for lupin ? What price level can i enter at ?

The value zone for LUPIN on Friday is between 413.50-402. This stock is very strong on both weekly and daily, but wait for a good bullishness to set in before a new long trade is initiated.

 

[d_s_ramesh]

Hi D S Ramesh,

What is your opinion about PIPAVAV Shipyard. The stock has been falling for quite a while now. Do you think the stock can go to Rs100 levels in 6-8 months. The Analysts say the stock is good longterm bet. If it is so, why the investors are dumping it just after their lockin period. I hold very small quantity of 50 shares around 85. Do you think I should initiate further investments inthe stock? I can hold it for 6-8 months.

Thanks

Puneet Arora

PIPAVAV has turned bearish abruptly without any weakness and has established a strong bearish presence on the weekly. Daily which turned bearish at 102 is going strong on the bearish side.There should be a bounce from 72 levels but that will provide another opportunity to short. Since we are not allowed to short in cash, we need to wait for a good bullish pattern to trade long.
The stock has a very strong support at 62 levels. On the next move down, it can form a bullish pattern at 62, and from there has a possibility to move. But this may take a long time.
As your position is already under waters, use the bounce to exit longs and wait for clear pattern formation to trade long later.

Thanks,
D S Ramesh

 

[d_s_ramesh]

Basic Materials sector is the best performer in the market & continues to hold this position for quite some time now. Technology and Consumer Goods sectors for close next.

Leather Products, Beverages and Textiles Industries are toppers in Basic Materials sector.

Stocks to watch here are RADICO and UBL.
RAMCOSYS, HEXAWARE, OFSS, GEODESIC and TATAELXSI are on the watch list in the Technology sector, in which Major Software Industry is doing the best.

Probable long opportunities in Index stocks.
BHARTIARTL, AMUJACEM, HDFCBANK, HUL, ITC, ONGC and ASIANPAINTS.

Index is likely to trade sideways with a consolidation before any good move could occur.

 

[d_s_ramesh]

A strong move up in the value zone, a faked out resistance break which had no confirmation and then a drastic fall to re-test lows. This was the market today, in which NIFTY and Bank NIFTY are retracing very strong bullish divergence on the hourly charts. There is a possibility of a good long trade on the NIFTY, but for this there should be a turnaround from here. Will that come in?

In all likeliness it should, on the other hand if the market slides further, the present bullishness will fade and also turn the Daily to a bearish trend. With the US markets giving in to good bearishness, there is a chance of continuation of bearishness at least on the opening hours.

Gold market has given a free fall by losing close to 3% on its value. Both stocks and bullions falling in tandem show that there is much to happen and all is not well with the bulls. As confusion prevails on the broader time frames, we stay on the side lines till there is a clear signal for trades to come through.