Delivery Calls

[Jai.Shewaramani]

Hello ,

I entered

1) BILT @ 117
2) HPCL @ 276
3) Indiabulls @ 306

Please tell me your views regarding these

Harsh

BILT - Targets 125/130, stop loss 117.50. A break above 133 will take it to 138/140

HPCL - Facing major resistance between 300-330 levels. A break above 335 should take it to 350. Current stops below 290 (preferred stops below 272)

IndiaBulls - Major support between 260-280. Major resistance between 300-330. A break below 275 will take it to 230.
For short term, Put stop at 295, above 320 it should see 332.

Jai Shewaramani

 

[boppanavijay]

Hero Honda has broken out and good long call for this settlement ;one can gain 60 rupees.

boppanavijay
9/9/06

 

[Jai.Shewaramani]

9/11

So a big move in sensex after so long...more or less a movement of 500 points downwards. Was this expected?

Plz refer to my post # 257 dated 3rd sept 2006 - http://www.traderji.com/57428-post257.html

I had warned you that such a move could be expected. I hope that many of you followed my advice and were out of the market with strict stops before the market saw crazy profit booking. I will post another sensex update soon.

Jai Shewaramani

 

[shrinivas]

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.

Jai Shewaramani

Thanks jai for this write up...I saw it today.....yup, I crossed off all my trades at PROFIT yesterday just when the markets started slipping....played with s/l and thus saved this time......all the counters I sold yesterday are available at much below price, but i'm still waiting for positive mood....
I booked profits yesterday and hope everybody here did the same...and if anybody had short any trade, I hope they covered that too...you never know the markets...

all the best....

ganeshhity

 

[Jai.Shewaramani]

Thanks jai for this write up...I saw it today.....yup, I crossed off all my trades at PROFIT yesterday just when the markets started slipping....played with s/l and thus saved this time......all the counters I sold yesterday are available at much below price, but i'm still waiting for positive mood....
I booked profits yesterday and hope everybody here did the same...and if anybody had short any trade, I hope they covered that too...you never know the markets...

all the best....

ganeshhity

Well Ganesh, you were pretty lucky. But I doubt that many of traders were as lucky as you. I'm sure many must have burnt their fingers in the fall. Let's hope that a positive upturn takes place really fast.

...you never know the markets...

I agree with you on this one

Jai Shewaramani

 

[Jai.Shewaramani]

SENSEX UPDATE (AFTER EFFECTS OF 9/11)

Sensex recorded a modest gain of 110 points in the day. That's just 25% gains compared to the fall on 9/11. So now the big questions that's running in every stock investor's mind:- Where is Sensex headed?

Sensex has a good support level between 11,300-11,400 (Low for today was 11,444). However, a retest of 11,000 levels might be on the cards. 10,800-11,000 is a MAJOR support for sensex. Below this level, sensex might slip to 10,600 and then eventually to 10,000.

CURRENT SCENARIO:
[1]
Sensex has retraced 78.50% of the previous swing run (11,297-11,893). Overall, it has retraced 25.56% of the bull run from 9,875-11,893. Thou these are important fibonacci retracement levels (originals being 23.6% and 76.4%), a major trend break have put these supports in major jeopardy.

[2]
Never the less, a weakening dollar and strengthening of global markets could help Sensex's cause. But the fate of the global markets hang in indecision at present, the direction a mystery. A strong comeback from here would have momentum to break the shackles of 12,000 levels and eventually a probability of a retest of 12,600 levels.

[3]
A different scenario could see the sensex consolidating between 11,400 and 12,000 levels for sometime.

But at the moment, the fate of Sensex is yet to be decided. The next few trading sessions are going to be a key factor in deciding the direction of Sensex.

Jai Shewaramani

 

[Jai.Shewaramani]

"Just remember one thing, whatever has happened in the past in the stock market and Wall Street will happen again. Advances in bull markets will come in the future, and panics will come in the future, just as they have in the past. This is the working out of a natural law" "It is action in one direction, and reaction in the opposite direction. In order to make profits, you must learn to follow the trend, and change when the trend changes."

Gann was well aware that emotions caused the bulk of traders to lose money:
"We cannot escape it (emotion). In the future, it will cause another panic in stocks. When it comes, both traders and investors will sell stocks, as usual, after it is too late, or in the latter stages of a bear market"---------W D Gann

 

[Annkit]

Jai Thanks for your market outlook and all other members of traderji.There is a lot information to know and learn about on this discusson forum.I'm newbie on the forum and also in the market.

I have 100 Punj Lloyd at the prize of 742 and
500 Alok Industries at the prize of 63.20

What are your views on this stocks ?

Regards,
AnkitC

 

[Jai.Shewaramani]

Jai Thanks for your market outlook and all other members of traderji.There is a lot information to know and learn about on this discusson forum.I'm newbie on the forum and also in the market.

I have 100 Punj Lloyd at the prize of 742 and
500 Alok Industries at the prize of 63.20

What are your views on this stocks ?

Regards,
AnkitC

Hi Ankit
Punjab Llyod is facing some resistance at current levels. Above 844 it should see 875 and then 950 if some steam is left.

Alok Industries target 1 is 68, target 2 is 82 (but there is some resistance at 72)

Jai Shewaramani

 

[Jai.Shewaramani]

Sensex near 12,000 levels. If this resistance is broken, sensex should show some steam.

Major reversal points are as follows (Rough figures)

Major resistances - 12,000 / 12,300 / 12,600

Major supports - 11,400 / 11,000 / 10,500 / 10,000

Jai Shewaramani