New Intermed Uptrend!!

[alok]

Thanks a lot Saint for all those great calls.

Can you please look at Power Trading corporation (PTC), RCF (Rashtriya chemicals and fertilizers) and Tamilnadu Telecom (TAMTEL) charts... It appeared to me that PTC is resuming its uptrend.

Thanks.

 

[Saint]

Hi,
what abt sesa goa ??? is it right time to enter?

Nope,not yet,Omkar........Sesa Goa is in the middle of a pullback.At present we have a rising wedge on the weekly which is a bearish signal especially after an uptrend.Best not to enter here and watch how this performs.For now don't commit your funds as yet.

Happy Trading!
Saint

 

[Saint]

Thanks a lot Saint for all those great calls.

Can you please look at Power Trading corporation (PTC), RCF (Rashtriya chemicals and fertilizers) and Tamilnadu Telecom (TAMTEL) charts... It appeared to me that PTC is resuming its uptrend.

Thanks.

Hi Alok,

Most welcome,my friend!

TAMTEL:I don't seem to have the charts for this one.Apologies!

RASHTRIYA CHEM:Total slish slosh all over the place.No clear cut trend.Keep your funds away from its uncertainties.

PTC :Yep,looking good..........nice wide range bar breakout a few weeks ago,followed by a pullback.Buy at 62 with a stop at 57.Then trail stop upwards.

Happy Trading!
Saint

 

[Anupama Singh]

UPDATES

BALRAMPUR CHINI:So far so good.Hold.Raise stop losses to 91.The expected blast off occurred as expected.Take some off the table around 122.

BOMBAY DYEING:Very nice.We got the breakout,now pulling back.It's a Hold.Raise stop loss to 320.

CENTURION BANK :Still going sideways.It's a Hold as of now.Raise stop loss to 20.5.

FINANCIAL TECH:So far so good.It's a hold.Keep stop loss at 1100.

INDIABULLS:Nice wide range bar breakout on the weekly last week and now a pullback.Looking good.It's a Hold.Raise stop loss to 150.

KARNATAKA BANK:Took profits at 113.8 today.And already raised stop loss to 108(viz breakeven).Not looking too good.Strong supply here and the odds of a turn around quite high making this a lower pivot high on the weekly.Basically,get out at 108.Looking more and more like a sweet short than long.I could be wrong,but prefer to err on the side of caution.

KEI INDS:Raise stop loss to 216.Nothing wrong with it so far.Broke out,pulled back,now resuming its uptrend.So far so good.Still a HOLD.

PRAJ INDS :So far ,to plan.We had a breakout from a symmetrical triangle on the daily.Weekly looking set to resume its uptrend.Raise stop loss to 200.Hold.

MCLEOD RUSSEL:Nice systematic pullback .Expect a resumption in upward activity.For now,a HOLD.Keep Stop at 58.

MPHASIS BFL:Still looking nice on longer term charts.Hold.Keep stop loss at 138.

PUNJAB TRACTORS :Very nice.Keep stop loss at 185.

SHIPPING CORP:Still looking good on longer term charts.Hasn't moved from our entry point,but looks as good as when we entered it.We are still trading within a huge sym triangle on the weekly.Keep stop loss at 140.

SAREGAMA:Nice gains in this one so far.Hold.Raise stop loss to 197.

GINNI FILAMENTS:Exitted with a loss,but taking a stop is part of the business.We couldn't get out at 33,the stop point,due to a gap down.We got out at 31.8 thereabouts.Now it's at 28.Thus the importance of adhering to the stops.We take our stop,and make money elsewhere,than to wait on the same one,pray and hope and lose time and energy and our mind in the process!

MSK PROJECTS:Yet to trigger.Stilla buy once it crosses 90.

BSEL INFRASTRUCTURE :Yet to trigger so far.Still a buy over 46.5 with a stop at 38.

JAYANT AGRO:Has not triggerred,but no more as interesting now.That weekly breakout is now a failed breakout and a possibility of lower prices.This play stands CANCELLED.

TELEDATA INF :Yet to trigger.Let it demonstrate some strength first.Still a buy over 29.

Many of the above stocks are showing bearish divergences on the RSI and TRIX,as is the general market.The time for CAUTION is once again here.So take some profits and tighten stops.Get out if stops hit.

Happy Trading!
Saint

Thanx a lot,Saint!

Regds,
Anu

 

[nkpanjiyar]

UPDATES

BALRAMPUR CHINI:So far so good.Hold.Raise stop losses to 91.The expected blast off occurred as expected.Take some off the table around 122.

............

JAYANT AGRO:Has not triggerred,but no more as interesting now.That weekly breakout is now a failed breakout and a possibility of lower prices.This play stands CANCELLED.

TELEDATA INF :Yet to trigger.Let it demonstrate some strength first.Still a buy over 29.

Many of the above stocks are showing bearish divergences on the RSI and TRIX,as is the general market.The time for CAUTION is once again here.So take some profits and tighten stops.Get out if stops hit.

Happy Trading!
Saint

Thanks a lot Saint. It helped me.

cheers,
nkpanjiyar

 

[Saint]

Thanks a lot Saint. It helped me.

cheers,
nkpanjiyar

Hi NK,

Great going on Orient Paper as well,very nice!

Saint

 

[dheerajmehta]

Hi saint.....

Thanx for the great post..
I'm out of karnataka Bank and holding Mphasis and Praj Ind...
Is there a scrip out of the list which i can enter now? (of the ones on which a HOLD reco is given)

Dheeraj M

 

[Saint]

UPDATES

BALRAMPUR CHINI:So far so good.Hold.Raise stop losses to 91.The expected blast off occurred as expected.Take some off the table around 122.

BOMBAY DYEING:Very nice.We got the breakout,now pulling back.It's a Hold.Raise stop loss to 320.

CENTURION BANK :Still going sideways.It's a Hold as of now.Raise stop loss to 20.5.

FINANCIAL TECH:So far so good.It's a hold.Keep stop loss at 1100.

INDIABULLS:Nice wide range bar breakout on the weekly last week and now a pullback.Looking good.It's a Hold.Raise stop loss to 150.

KARNATAKA BANK:Took profits at 113.8 today.And already raised stop loss to 108(viz breakeven).Not looking too good.Strong supply here and the odds of a turn around quite high making this a lower pivot high on the weekly.Basically,get out at 108.Looking more and more like a sweet short than long.I could be wrong,but prefer to err on the side of caution.

KEI INDS:Raise stop loss to 216.Nothing wrong with it so far.Broke out,pulled back,now resuming its uptrend.So far so good.Still a HOLD.

PRAJ INDS :So far ,to plan.We had a breakout from a symmetrical triangle on the daily.Weekly looking set to resume its uptrend.Raise stop loss to 200.Hold.

MCLEOD RUSSEL:Nice systematic pullback .Expect a resumption in upward activity.For now,a HOLD.Keep Stop at 58.

MPHASIS BFL:Still looking nice on longer term charts.Hold.Keep stop loss at 138.

PUNJAB TRACTORS :Very nice.Keep stop loss at 185.

SHIPPING CORP:Still looking good on longer term charts.Hasn't moved from our entry point,but looks as good as when we entered it.We are still trading within a huge sym triangle on the weekly.Keep stop loss at 140.

SAREGAMA:Nice gains in this one so far.Hold.Raise stop loss to 197.

GINNI FILAMENTS:Exitted with a loss,but taking a stop is part of the business.We couldn't get out at 33,the stop point,due to a gap down.We got out at 31.8 thereabouts.Now it's at 28.Thus the importance of adhering to the stops.We take our stop,and make money elsewhere,than to wait on the same one,pray and hope and lose time and energy and our mind in the process!

MSK PROJECTS:Yet to trigger.Stilla buy once it crosses 90.

BSEL INFRASTRUCTURE :Yet to trigger so far.Still a buy over 46.5 with a stop at 38.

JAYANT AGRO:Has not triggerred,but no more as interesting now.That weekly breakout is now a failed breakout and a possibility of lower prices.This play stands CANCELLED.

TELEDATA INF :Yet to trigger.Let it demonstrate some strength first.Still a buy over 29.

Many of the above stocks are showing bearish divergences on the RSI and TRIX,as is the general market.The time for CAUTION is once again here.So take some profits and tighten stops.Get out if stops hit.

Happy Trading!
Saint

Forgot to put in 2 more that we had entered a couple of days back.

PROVOGUE:Again,a nice consolidation after a breakout on the weekly charts,as of yesterday.Looking great to resume its move up.It's a HOLD.Keep stop losses at 165.

USHA MARTIN IND :Threatening to break out if the symm triangle on the weekly.So far so good.Hold.

Happy Trading!
Saint

 

[nkpanjiyar]

Hi NK,

Great going on Orient Paper as well,very nice!

Saint

Explosive movement Saint. It has crossed its 52 week high. I feel it will touch the target of 300. What you say.

Thanks,
nkpanjiyar

 

[Saint]

Hi saint.....

Thanx for the great post..
I'm out of karnataka Bank and holding Mphasis and Praj Ind...
Is there a scrip out of the list which i can enter now? (of the ones on which a HOLD reco is given)

Dheeraj M

Hi Dheeraj,

Of all of them,most have made their moves.Usha Martin looks interesting,but since not in,wait for the end of this week.Buy next week over the high of this week.

Another interesting one is MAX INDIA.Nice sideways consolidation on the weekly.Buy here and add over 630 with a stop at 525,and a first target of 800.

Happy Trading!
Saint