New Intermed Uptrend!!

[Saint]

Hello Saint!

Thanks for the updates.Really helps as I am in quite a few of them.It is great that you take the time and update the calls that you made.

As for the market(NIFTY),as Srisara mentioned somewhere,there are bearish divergences on the TRIX and the RSI,daily and weekly charts.Please post your comments.

Sincerely,
Avinash

Hi Avinash,

I agree with you.There are bearish divergences on the Trix and Rsi in the Nifty.Bearish divergences are a sign of an approaching correction.When we do get that correction,it will be much bigger than this 50 point here and there.

So,now that we have the bearish divs on TRIXand the RSI,is it time to sell and get out of the markets?NO,DEFINITELY NOT.The bearish divs is a warning signal of an approaching correction..........that could be tomorrow or when we reach 3000.It would be foolish on our part to get out when there's nothing to suggest that things are no more as rosy as when we entered it.

As it stands now,although we do have bearish divergences,we also have higher pivot highs and lows.The trend is therefore up.As trend players,we ride the trend,in this case .......we are long until something changes to suggest that this present trend is finished.

A break below 2766 and worse a daily close below 2766,and we can say that this leg up is over.

Till then we are up.........we are thankful to all the warning signals around but we remain bullish till pivots crack.But feel free to tighten stops and take some profits off the table because although everything is great today,that correction is coming.Till that day comes,we make hay while the sun shines,and rake in the moolah.

All the best!
Happy Trading!
Saint

 

[Saint]

Hi Gandharvashu,

GRANULES :Sideways monthly consolidation taking place.High volume wide range bar on the 12th Dec.Weekly making a higher pivot low.Buy on a close over 118.Stop of 105.Looking good.

Nice KS Oils as well..............as always,great ones,my friend!

Happy Trading!
Saint

Hi Vizzie,

That is the beauty of the WRB .......nice move on Granules,but there's a whole load of resistance over at 118.Like said above,things look juicy if we can close above(weekly)above 118.We are near there,stalk it.Great one as usual!

Saint

 

[Saint]

Hi Saint,
Thanks a lot for your updated list of good scrips.

I have one question, I made entry into PetronetLNG@70 and its floating between 62-65.
Please advise me on this.

Also is it good time to enter into IDFC ?

Many Thanks
Atul

Hi Atul,

PETRONET LNG :Looking good,nothing wrong with it so far.Hold on to it.So far so good!

IDFC :If planning to enter,buy once this crosses 74.5 with a stop of 69.

Saint

 

[Saint]

Hi Saint!!

Granules n MSK both goin strong..
worth an entry here ??

cheers
vizzie

Hi Vizzie,

Granules reply above.MSK PROJ looking good,but wait for 90 for an entry.

Saint

 

[avinash]

Hi Avinash,

I agree with you.There are bearish divergences on the Trix and Rsi in the Nifty.Bearish divergences are a sign of an approaching correction.When we do get that correction,it will be much bigger than this 50 point here and there.

So,now that we have the bearish divs on TRIXand the RSI,is it time to sell and get out of the markets?NO,DEFINITELY NOT.The bearish divs is a warning signal of an approaching correction..........that could be tomorrow or when we reach 3000.It would be foolish on our part to get out when there's nothing to suggest that things are no more as rosy as when we entered it.

As it stands now,although we do have bearish divergences,we also have higher pivot highs and lows.The trend is therefore up.As trend players,we ride the trend,in this case .......we are long until something changes to suggest that this present trend is finished.

A break below 2766 and worse a daily close below 2766,and we can say that this leg up is over.

Till then we are up.........we are thankful to all the warning signals around but we remain bullish till pivots crack.But feel free to tighten stops and take some profits off the table because although everything is great today,that correction is coming.Till that day comes,we make hay while the sun shines,and rake in the moolah.

All the best!
Happy Trading!
Saint

Hello Saint!

Thanks for that prompt response,and thank you once again for the education!

Sincerely,
Avinash

 

[Dhanya]

Hi Saint,

Super move in PROVOGUE -up 10%-today.Great call as always!

Regards,
Dhanya

 

[Saint]

Hello Saint!

Thanks for that prompt response,and thank you once again for the education!

Sincerely,
Avinash

Most welcome Avinash!

Saint

 

[Saint]

Hi Saint,

Super move in PROVOGUE -up 10%-today.Great call as always!

Regards,
Dhanya

Thank you for your kind words,Dhanya.

Saint

 

[Saint]

Thanx a lot,Saint!

Regds,
Anu

Most welcome,Anupama!

Saint

 

[Saint]

Below is a revised update after correction of a few slip ups.

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 100.Hold.

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.

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.

GRANULES:Yet to trigger.Buy over 120 with a stop at 105

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