New Intermed Uptrend!!

[Saint]

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.

Jay Raj

Hi Jay Raj,

BOMBAY DYEING :This one's now in a downtrend,and forming a bear flag on the daily.The 300 area that was rock solid support is going to be a strong resistance.Monthly pivots are taken out........get out on a rally to 295-300,or if it starts breaking down below 280.Don't get into the hope-and-pray mode......a further move down will hurt your capital and your psyche.Get out either around the 295-300 or if it sinks below 280.

ARVIND MILLS :Breakdown from a rising wedge on the weekly,its fall may not be done as of yet.Like above,please don't give it any more room than 101.4.
Watch as of now,if it breaks 101.4,get out!

PRISM CEMENTS :Again,keep the stop loss at 17.3........get out if this hits.

MANGALAM CEMENTS :This one has broken crucial support at 68-69 area,and now back to that area which is going to put up some resistance.Once again,if this puts in a rally,get out.

More later!!

Saint

 

[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.

Yep,my friend,agreed..........doesn't look happy at all!

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!!

hmmmm............my friend,all this for a change in 'cap?!Anyway,I 'll let you have the last word on this.

Saint

 

[AMITBE]

hmmmm............my friend,all this for a change in 'cap?!Anyway,I 'll let you have the last word on this.Saint

Hey there! More of Saint is wht I mean, my friend.
And for this who here wouldn't let me have the last word, pray?

 

[Saint]

Hey there! More of Saint is wht I mean, my friend.
And for this who here wouldn't let me have the last word, pray?

 

[Saint]

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.

Jay Raj

Hi Jay Raj,

Every trade has to have a PLAN B before you enter it.We all hope that the trade goes in our favour.But if it doesn't,well,that's what stops are for.......I notice that you are getting into trades and not having stops in place.And that is dangerous ,my friend,very dangerous,..............to have your capital cut by half is sad,but to have your psyche cut in two is agonising.So please ,please...........not only is it important to choose which stock to enter.More important is figuring out PLAN B.And the discipline to adhere to the plan if things don't go your way.

ISPAT INDS :This one's in a strong downtrend.Trying to catch it is like catching a falling knife.Buying at 19 was guesswork,my friend........all I can tell you is to sell off on a rally.

SAIL :SAIL is looking like a double top,which is bearish.Confirmation is if we get a close below 47.So,keep the stop loss at 47..........get out if this breaks 47.

TISCO :Same as above............get out if it cracks 330.

KARNATAKA BANK :Again,your entry point is a problem.You are buying after a run up..........basically you end up buying when pro's are thinking of or already selling.Karnataka Bank looks better than the others,so far.If it breaks 90,get out.........This may breakout and go on to 200,but take no more pain ...if it cracks 90,get out!

All the very best!!
Happy Trading!
Saint

ps:Time to start your education...........let trading take a back seat for a period while you educate yourself .Hope you don't mind this advice........just looking out for you!!Good Luck!

 

[karthikmarar]

Hi Saint

Wll said Saint..Most of the people jump into trading without bothering to educate themselves.

Tried a PM to you. Your in box is overflowing it seems..

Can U check out Phoneix lamps for me.

The weekly chart shows the trend is up. MACD and Stochastic all showing buy in weekly and daily charts.
This one looks like outperforming the index. Or do you still suggest to wait market finds a direction.

regards

karthik

 

[Saint]

Hi Saint

Wll said Saint..Most of the people jump into trading without bothering to educate themselves.

Tried a PM to you. Your in box is overflowing it seems..

Can U check out Phoneix lamps for me.

The weekly chart shows the trend is up. MACD and Stochastic all showing buy in weekly and daily charts.
This one looks like outperforming the index. Or do you still suggest to wait market finds a direction.

regards

karthik

Hi Karthik,

Sorry abt that,my friend........keep getting quite a bit of PM's,tends to max out the inbox if not cleared fast!Shall look into it right away...As for Phoenix Lamps,it was a clear buy once 89 was taken out.Still not too far off for an entry here.

Yep,as far as indicators are concerned,all showing buy.Daily charts showing a higher pivot low.Volume coming inlast few days.Keep your stop at 81(prev pivot low is 82.3,give it some room) and go long..........Looking good!

All the best!
Saint

 

[chopra]

Thanks Saint.
Gateway was picked on the recommendatiion by seniors like you, AMITBE, supratik. Thanks for the advice.

And for the steel sector I will wait and watch for now.
Appreciate all the help.
Regards,
Ashish

 

[Karuna]

Hi Karthik,

Sorry abt that,my friend........keep getting quite a bit of PM's,tends to max out the inbox if not cleared fast!Shall look into it right away...As for Phoenix Lamps,it was a clear buy once 89 was taken out.Still not too far off for an entry here.

Yep,as far as indicators are concerned,all showing buy.Daily charts showing a higher pivot low.Volume coming inlast few days.Keep your stop at 81(prev pivot low is 82.3,give it some room) and go long..........Looking good!

All the best!
Saint

Hi Karthik/Saint,

Any targets ??

Regards,
Karuna

 

[karthikmarar]

Hi Karthik/Saint,

Any targets ??

Regards,
Karuna

Karuna

I am averse to predicting targets. I always found predicting target a dicey affair. If you insist the immediate target would 110. Why not try to get the maximum by trail stopping?

regards

Karthik