Delivery Calls
- Thread starter Jai.Shewaramani
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I came across these two interesting stocks which seem to be fundamentally pretty strong. After analysing them technically, I came to the conclusion that they do seem to be steaming at the moment and are worth considering for mid term/long term purposes.
Short term players can enter these 2 stocks at the following levels.
Buy Triveni Glass Ltd above 44, stop loss under 37, target 50/52
Buy Futura Polyesters Ltd above 18.60/18.75, strict stop loss 15.50, target 21/22
Jai Shewaramani
Short term players can enter these 2 stocks at the following levels.
Buy Triveni Glass Ltd above 44, stop loss under 37, target 50/52
Buy Futura Polyesters Ltd above 18.60/18.75, strict stop loss 15.50, target 21/22
Jai Shewaramani
SENSEX UPDATE
Sensex has shown strength after the crash in May. But was it really a crash that started on 11th May 2006? I wouldn't really term it as crash as more like a major correction which soon turned into panic selling.
The bull run started from 7656 levels on 28th Oct 2005 uptill 11th May 2006 where sensex recorded an all time high of 12,671. A rise of 5015 points in a little over 6 months. From 11th May 2006, sensex shed off 77% of these gains falling down by 3872 in 1 month and 4 days.
What is significant about the rise and the fall is that sensex lost 3/4th of its gains in 1 month, where to acheive this gain it took more than 6 months.
QUESTION:
So now the question arises that is the bull run back? Also, a question arises that why am I posting this information now, when its beleived that the bull run is back?
ANSWER:
Like you, I too want to beleive that we are in a bull run for sure and that Sensex will cross the 13,000 levels for sure this time. But I'm trying not to be too optimistic about things. Thou chances are greater that Sensex will see new highs, I don't want to rule out the fact that another correction (major or minor) might be due. Technically speaking, before making a new high, Sensex has to face a series of strong resistances from now on. The immidiate major restistance being between 11,900 to 12,300. Only if Sensex can maintain its momentum and break above this level substantially, will we see it stretching out to touch its previous high. Thou passing thru the previous high will not be easy, I doubt that will pose any threat to Sensex once 12,300 levels are taken out of the picture quite convincingly.
So to sum it up, Bulls should be on the lookout of any weakness at or above 11,900 levels. You donot want to repeat the same mistake what you did in May by not exiting your profitable portfolio before your stocks ran into losses.
AS OF TODAY, SENSEX IS NOT SHOWING ANY SIGNS OF WEAKNESS. BUT THAT DOESNT MEAN IT WILL NOT SHOW WEAKNESS IN THE NEXT TRADING SESSIONS. DONOT TRADE WITHOUT STRICT STOP LOSS NOW.
Jai Shewaramani
Sensex has shown strength after the crash in May. But was it really a crash that started on 11th May 2006? I wouldn't really term it as crash as more like a major correction which soon turned into panic selling.
The bull run started from 7656 levels on 28th Oct 2005 uptill 11th May 2006 where sensex recorded an all time high of 12,671. A rise of 5015 points in a little over 6 months. From 11th May 2006, sensex shed off 77% of these gains falling down by 3872 in 1 month and 4 days.
What is significant about the rise and the fall is that sensex lost 3/4th of its gains in 1 month, where to acheive this gain it took more than 6 months.
QUESTION:
So now the question arises that is the bull run back? Also, a question arises that why am I posting this information now, when its beleived that the bull run is back?
ANSWER:
Like you, I too want to beleive that we are in a bull run for sure and that Sensex will cross the 13,000 levels for sure this time. But I'm trying not to be too optimistic about things. Thou chances are greater that Sensex will see new highs, I don't want to rule out the fact that another correction (major or minor) might be due. Technically speaking, before making a new high, Sensex has to face a series of strong resistances from now on. The immidiate major restistance being between 11,900 to 12,300. Only if Sensex can maintain its momentum and break above this level substantially, will we see it stretching out to touch its previous high. Thou passing thru the previous high will not be easy, I doubt that will pose any threat to Sensex once 12,300 levels are taken out of the picture quite convincingly.
So to sum it up, Bulls should be on the lookout of any weakness at or above 11,900 levels. You donot want to repeat the same mistake what you did in May by not exiting your profitable portfolio before your stocks ran into losses.
AS OF TODAY, SENSEX IS NOT SHOWING ANY SIGNS OF WEAKNESS. BUT THAT DOESNT MEAN IT WILL NOT SHOW WEAKNESS IN THE NEXT TRADING SESSIONS. DONOT TRADE WITHOUT STRICT STOP LOSS NOW.
Jai Shewaramani
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