New Intermed Uptrend!!

[Saint]

Dear Saint,

Thanks a lot for your comments and suggestions....
On gufic and kdl really speaking, it was my foolishness to act on some of my friends suggestions (based on some rumours!). Fortunately, I got 100 each....

Thanks & Regards,
Alok.

Hi Alok,

There's a famous saying...........Missed money is better than lost money!And another one....."It is much better to be on the ground wishing you were in the air,than being in the air wishing you were on the ground!"

When one hears rumours,get to your charts or fundamentals,etc and have a look........if worth entering,great.Else,give it a pass..........it may blast up,and your friend could be right,but once again,missed money better than lost money!

All the best!
Saint

 

[jraj]

Hi Saint,

Please comment on the following stocks.I am down in all of them.Should I hold or sell it off here?

Bombay Dyeing:Entry at 350.
SAIL:Entry at 65.5
Karnataka Bank:Entry at 112.
TISCO:Entry at 372
Mangalam Cement :Entry at 84.2
Prism Cem:Entry at 24.5
Ispat Ind:Entry at 19.6
Arvind Mills:Entry at 124

I really appreciate if you could help on these.Thanks.

JayRaj

Hi Saint,

My question got buried. Awaiting your reply,at least before Monday.I am sorry if any inconvenience caused.

Thanks,
JayRaj

 

[Saint]

Hi Saint,

How do you think of TISCO and SAIL currently?

Looks like Sail is a great buy at a 55- level. It has fallen considerably from the 66-67 mark.

An outstanding result this quarter. I believe it is a buy.

Waiting to hear from you

Thanks and Regards

Hi Supratik,

Both Tisco and Sail have touched previous highs around the last week of September........like I said previously,TISCO has to break 330 decisively,and SAIL has to break 47 decisively to confirm a double top.Breaking this area is a double top on the monthly and expect more bearishness to follow.

If we can hold these levels,and go into a trading range in both,soon the monthly will look like sideways consolidation,and probably bullish.Breaking above the previous high is confirmation.

Therefore,from a long term perspective,we are in a neither this nor that region as of now.Bears see bearishness and a double top.Bulls see sideways consolidation and possibly new breakouts to new highs.Both see what they want to see.Either of them is definitely correct........but which one?

As you say from a long term perspective,if the fundamentals are good,maybe one can enter TISCO and SAIL in view of possible breakout,but the magic number to remember is 33O for TISCO and 47 for SAIL.Keep these as your stop losses.Go long.If you are right,great.If this cracks,get out of the long and go short in Tisco derivatives if you are cool with shortselling.

All the best,Supratik!!

Saint

 

[Saint]

Dear Saint,

Please advise regarding Gateway Distripark.
GATDIS @200 CMP 250/-
What do you recommend, Do I sell it or still hold.

And will it be advisable to buy Ispat Ind.
ISPIND CMP 14/-

Looking forward for your comments.
Thanks and Regards,
Ashish

Hi Ashish,

GATEWAY DISTRIPARKS:Let me first commend you on a great trade..........why?At a time of market weakness,this one is relatively very strong.Still bullish on charts of all time frames.Great stuff,my friend.Entry price is 200.Great...........now trail stop it upwards to the previous pivot low on the daily.Keep your stop loss at 215 now.......do nothing else for now.Great pick........definitely a hold as of now.Just up the stop to 215,that's it.

ISPAT INDS:If you are looking at this from a longer term perspective,wait and watch for now.This may be the absolute bottom,or maybe not...........so let's not guess an entry here.Wait for more sideways consolidation over a few weeks,or a higher pivot low on the weekly charts before jumping in.We are not in this business to catch absolute tops and bottoms,but to make profits,so let's stay out till we have more confirmation.
Of course,short term wise is another matter altogether....in fact we may get a bounce soon after 5 down weeks and this first up week.

All the best!!
Saint

 

[Saint]

Hi Saint,

My question got buried. Awaiting your reply,at least before Monday.I am sorry if any inconvenience caused.

Thanks,
JayRaj

Hi Jay Raj,

Apologies......shall answer soon.And no inconvenience caused........shall definitely help as much as I possibly can.

All the best!
Saint

 

[AMITBE]

Hi Supratik,

Both Tisco and Sail have touched previous highs around the last week of September........like I said previously,TISCO has to break 330 decisively,and SAIL has to break 47 decisively to confirm a double top.Breaking this area is a double top on the monthly and expect more bearishness to follow.

If we can hold these levels,and go into a trading range in both,soon the monthly will look like sideways consolidation,and probably bullish.Breaking above the previous high is confirmation.

Therefore,from a long term perspective,we are in a neither this nor that region as of now.Bears see bearishness and a double top.Bulls see sideways consolidation and possibly new breakouts to new highs.Both see what they want to see.Either of them is definitely correct........but which one?

As you say from a long term perspective,if the fundamentals are good,maybe one can enter TISCO and SAIL in view of possible breakout,but the magic number to remember is 33O for TISCO and 47 for SAIL.Keep these as your stop losses.Go long.If you are right,great.If this cracks,get out of the long and go short in Tisco derivatives if you are cool with shortselling.

All the best,Supratik!!

Saint

Hey Saint...doing the charts as you can see.
On SAIL, the double top is clear, and the probability of a double bottom at 46-48 too? In fact a possible triple on the daily and double on weekly. The time range is wide enough, over three months. So a break above 56-57 a confirmation, though much supply overhead on daily but better on weekly. Comments?
And what's with the cap on s of Saint?!
Cheers!

 

[Saint]

Hey Saint...doing the charts as you can see.
On SAIL, the double top is clear, and the probability of a double bottom at 46-48 too? In fact a possible triple on the daily and double on weekly. The time range is wide enough, over three months. So a break above 56-57 a confirmation, though much supply overhead on daily but better on weekly. Comments?
And what's with the cap on s of Saint?!
Cheers!

Hi Amit,

In SAIL,we are bouncing off the support lines of the previous trough......whether we take out previous highs of 70,only time can tell.As is obvious,a break below 47 is bearish and a double top confirmation.A breakout above 70 is a confirmed bull move.Between here and 70,bulls and bears are both going to see what they want to see.

As for the double bottom on the weekly and the triple on the daily,the thing to look at is the pre-existing trend before all this fiasco..............in this case,the pre-existing trend is up,not down.Double bottoms are called only if the pre-existing trend is down.............so in this case,no question of double and triple bottoms.All we have is a correction to 47 levels in July and then the rally from there stopping at the 70 area around the 3rd week of September and falling back down to the 47 area .......creating in minds of traders that a double top is most probable.

So the question now is:Are we going to crack 47,if so..........we have a double top and that is bearish!If we do not crack 47,bears are going to take this as a bounce to make a lower pivot high,and then break down to below 47.Bulls see a possible b/out to new highs.......all this leads to a sideways consolidation phase.

From a trader's perspective:So long we are in a sideways consolidation phase,we are bullish.And this is nothing but a correction.One could go long here,with a stop at 47.

And,my very observant friend,I identify more with Saint,not saint........so got it changed!Only 1 'cap' for me as compared to your 6 'caps'..

All the best!!
Saint

 

[Saint]

Hi Saint,

What do you think of the pattern in Zuari Industries (zuari.bo)? Is this forming what is called the reverse wedge?

Sorry if this is out of place, just trying to learn the ropes.

Hope you had a nice deepawali.
Thanks

Hi Sai,

Yes I did.........and I hope you had a great Deepavali yourself.

Yep,on the falling wedge in ZUARI.Nice correction in the weekly charts and a falling wedge on the daily.........which is bullish.As with most other patterns,here too,volume contracted during the wedge,and should increase on a breakout from the wedge pattern.

Great going,Sai........and ask all you want.Shall try to help as much as I possibly can.

All the best!!
Happy Trading!!
Saint

 

[gandharvashu]

HI!

I want to post REIAgro as for me it has resumed its new intermediate uptred. I only found it yesterday but will like to enter only with correction. Hoping you will tell me about this and share your comments.

Ashutosh

 

[AMITBE]

Hi Amit,

In SAIL,we are bouncing off the support lines of the previous trough......whether we take out previous highs of 70,only time can tell.As is obvious,a break below 47 is bearish and a double top confirmation.A breakout above 70 is a confirmed bull move.Between here and 70,bulls and bears are both going to see what they want to see.

As for the double bottom on the weekly and the triple on the daily,the thing to look at is the pre-existing trend before all this fiasco..............in this case,the pre-existing trend is up,not down.Double bottoms are called only if the pre-existing trend is down.............so in this case,no question of double and triple bottoms.All we have is a correction to 47 levels in July and then the rally from there stopping at the 70 area around the 3rd week of September and falling back down to the 47 area .......creating in minds of traders that a double top is most probable.

So the question now is:Are we going to crack 47,if so..........we have a double top and that is bearish!If we do not crack 47,bears are going to take this as a bounce to make a lower pivot high,and then break down to below 47.Bulls see a possible b/out to new highs.......all this leads to a sideways consolidation phase.

From a trader's perspective:So long we are in a sideways consolidation phase,we are bullish.And this is nothing but a correction.One could go long here,with a stop at 47.

And,my very observant friend,I identify more with Saint,not saint........so got it changed!Only 1 'cap' for me as compared to your 6 'caps'..

All the best!!
Saint

Yes Saint...the charting didn't by default open quotes from June/July last year and so did appear like at best a struggling sideways one...and yes, figured the rest. To me the chart doesn't look too happy as of now, and some early indication may come with a crossover at 56-57 where the short term EMA would rise above the longer one.
And the caps...hmm...six for sure and I'd have ten if I looked a little more like the erstwhile king of Lanka! But look, I haven't changed even one, now have I? Happy for you though that now you are more of what you really are!!


Hi Supra...I'd be cautious on the profits too. The results don't appear too pleasing both in relation to the corresponding quarter last year, or even compared to the previous one this year. Same thing with the half yearly last and this year. The EPS has dipped marginally too.