New Intermed Uptrend!!

[sentinel]

Hi Saint,

Zensar Technologies looks like good to enter.. what do you say?



Thanks,
Sentinel

 

[Saint]

Hi saint,

Needed ur expert advice on some topics
1:The new credit policy and the firming up of interest rates...how does it affect the banking counters...
2:ORCHID CHEMICALS came out with spectacular numbers but no breakout in the scrip since then...when can i enter
3:Vsnl is showing lower peaks and on the chart the trendline seems to suggest the topping of the present peak...can i luk to short in near term...

(Excuse me for my inclination towards shortselling but im tryin to learn how to utilize bothways movement..though with smaller exposure rite now )

appreciate ur help as always..

Regards
ML

Hi ML,

Not the right person who can answer a macro question,but am sure we have many who can amongst us.So please put the question to the general forum.

ORCHID CHEM :Still in a trading range,could go either direction from here.Stay out,wait and watch for now.But if we put in a nice breakout on the weekly charts closing over 265,then needs reassessment for a possible long.

VSNL is trading within a triangle.Daily,weekly both looking bullish.Of course we may get some more correction.But do NOT short this one.Why not?Because you will be shorting into strength,and will be slam-banged once it rallies.

Just to give you a few examples :

CORPORATION BANK :Now forming a lower pivot high on the weekly,threatening to go to new lows.Taking out 315 is confirmation to the downside.

INDUSIND BANK :We have monthly charts showing a negative divergences on the RSI followed by an ugly Wide Range Bar down in Oct followed by this feeble attempt of a rally suckering in the ignorant bulls.On top of that it's a Head n Shoulders pattern............all the aforementioned factors are bearish for this stock.Breaking 48 is confirmation of the downtrend.

RANBAXY LABS :Monthly has again an ugly Wide Range Bar down with a sideways move.Break below 340 is bearish and more downslide.

TATA STEEL :Same thing here.Looking so far like a lower pivot high.On top of that looking like a double top on the monthly.Breaking 328 is confirmation.Of course,if you take a short here,ur stop is at 392 and a possible add at the 328 levels.

IDBI :Also making a feeble attempt a rally.Monthly,unable to get past the halfway mark of that Wide Range Bar put in for Oct.Now forming a Topping Tail .Forming a bear flag on the weekly ........all bearish signals,and threatening to make new lows.A break of 83 is confirmation that we are going to see more lows.

There are more,but I basically wanted to impress that when we short,we look for stocks that are relatively weak.Sectors wise,the BANKEX looking more and more like a yummy short.Another one is the METAL index.

So the idea is not to look for something that could be topping out........would be gambling as we try to anticipate an entry point and get slam dunked each time.Finally when we give up in futility amd with decreased capital,the market dumps to our sheer agony.

Look for more other than the above few.Always great to have the ability to make money either direction.

Happy Trading!
Saint

 

[ragh_ash]

hi saint,
pl give views on dalmia cements, Lumax autos, TTk prestige.
(i am using averages)
pl confirm they will uptrend?
regards
ragh_ash

 

[vizzie]

hi saint,
pl give views on dalmia cements, Lumax autos, TTk prestige.
(i am using averages)
pl confirm they will uptrend?
regards
ragh_ash

Hi Saint !!

Just givin it a try. Please correct me wherever wrong.

Lumax Auto

Forming higher highs so nice.
Nice breakaway gap at arnd 75.
Consolidating nicely on low volumes since breakout of November.
Support at arnd 75 levels and resistance at 92-95.
Has increased in the last 2 sessions but on very low volumes.
Bollinger bands closin in.
Perhaps a wait and watch is gud.

TTK Prestige:
Higher High on the weekly.
Support at 125.
Slightly descending pennant/flag(not sure) formation since breakout of December.
Looks gud.
Nice moves with increased volumes today n day before.
May see arnd 165-170 levels soon.

As I said, still learnin. Would luv to have ur comments


cheers
vizzie

 

[Saint]

Hi Ragh_Ash/Vizzie,

LUMAX AUTOMOTIVE SYS :As is stated by Vizzie above +the weekly has formed yet again that bullish wide range bar on high volumes in the week that ended on 11/11/2005,after which we had a nice sideways consolidation in the upper half of that bar..............which is bullish.You could either wait n watch for now and buy once the stock crosses 91.5(conservative),or buy here a portion and then add at 91.5(bit more aggressive).

But,nice find,ragh_ash!

TTK PRESTIGE :As stated by Vizzie above .........now forming a higher pivot low on the weekly and looking to 180-185 levels.You could buy here with a stop loss at 122 with a tgt of bet 180-185.

Nice find,again,ragh_ash!

DALMIA CEM :also a nice higher pivot low on the daily,but that negative divergences on the TRIX and RSI .......time to be a little cautious.

All nice finds,Ragh_ash.......and nice analysis there,Vizzie!!Great going!!

Happy Trading!
Saint

 

[garun1979]

Hi Ragh_Ash/Vizzie,

LUMAX AUTOMOTIVE SYS :As is stated by Vizzie above +the weekly has formed yet again that bullish wide range bar on high volumes in the week that ended on 11/11/2005,after which we had a nice sideways consolidation in the upper half of that bar..............which is bullish.You could either wait n watch for now and buy once the stock crosses 91.5(conservative),or buy here a portion and then add at 91.5(bit more aggressive).

But,nice find,ragh_ash!

TTK PRESTIGE :As stated by Vizzie above .........now forming a higher pivot low on the weekly and looking to 180-185 levels.You could buy here with a stop loss at 122 with a tgt of bet 180-185.

Nice find,again,ragh_ash!

DALMIA CEM :also a nice higher pivot low on the daily,but that negative divergences on the TRIX and RSI .......time to be a little cautious.

All nice finds,Ragh_ash.......and nice analysis there,Vizzie!!Great going!!

Happy Trading!
Saint

LOOKS INTERESTING..

ON THE LINES OF TAJ GVK ANOTHER ONE IS EIH ASSOCIATED...HAS BEEN MOVIN AROUND A LOT..CLOSED AT 200 (+8.5%) YDAY..WIT STRONG VOLUMES

WHAT DO U SAY SAINT..SHUD WE GO LONG

RGDS
GAURAV

 

[VICKY_SEEKINGINR]

Hi VICKY,

Am not getting the picture here.Are you in already and planning to add at 400+ ..........and you are basically saying that 400 is resistance and a close over 400 is the beginning of the uptrend?

Please clarify.

Saint

Hi Saint...

Sorry for wrong writing..

I am already in ranbaxy my bought price was 420 (with borkerage)
and i am looking this price to exit....

Not thinking to add more....

Thanks

 

[Dhanan]

Sir, Could you tell me the prospects of KCP Ltd, it has been rising for some time now. What could be a could technical target for it.

Thanx

 

[avinash]

Hi ML,

Not the right person who can answer a macro question,but am sure we have many who can amongst us.So please put the question to the general forum.

ORCHID CHEM :Still in a trading range,could go either direction from here.Stay out,wait and watch for now.But if we put in a nice breakout on the weekly charts closing over 265,then needs reassessment for a possible long.

VSNL is trading within a triangle.Daily,weekly both looking bullish.Of course we may get some more correction.But do NOT short this one.Why not?Because you will be shorting into strength,and will be slam-banged once it rallies.

Just to give you a few examples :

CORPORATION BANK :Now forming a lower pivot high on the weekly,threatening to go to new lows.Taking out 315 is confirmation to the downside.

INDUSIND BANK :We have monthly charts showing a negative divergences on the RSI followed by an ugly Wide Range Bar down in Oct followed by this feeble attempt of a rally suckering in the ignorant bulls.On top of that it's a Head n Shoulders pattern............all the aforementioned factors are bearish for this stock.Breaking 48 is confirmation of the downtrend.

RANBAXY LABS :Monthly has again an ugly Wide Range Bar down with a sideways move.Break below 340 is bearish and more downslide.

TATA STEEL :Same thing here.Looking so far like a lower pivot high.On top of that looking like a double top on the monthly.Breaking 328 is confirmation.Of course,if you take a short here,ur stop is at 392 and a possible add at the 328 levels.

IDBI :Also making a feeble attempt a rally.Monthly,unable to get past the halfway mark of that Wide Range Bar put in for Oct.Now forming a Topping Tail .Forming a bear flag on the weekly ........all bearish signals,and threatening to make new lows.A break of 83 is confirmation that we are going to see more lows.

There are more,but I basically wanted to impress that when we short,we look for stocks that are relatively weak.Sectors wise,the BANKEX looking more and more like a yummy short.Another one is the METAL index.

So the idea is not to look for something that could be topping out........would be gambling as we try to anticipate an entry point and get slam dunked each time.Finally when we give up in futility amd with decreased capital,the market dumps to our sheer agony.

Look for more other than the above few.Always great to have the ability to make money either direction.

Happy Trading!
Saint

Thanks Saint for an excellent writeup,was an eyeopener as I was always looking for stocks that was possibly topping,not weak ones.

Regds,
Avinash

 

[Saint]

LOOKS INTERESTING..

ON THE LINES OF TAJ GVK ANOTHER ONE IS EIH ASSOCIATED...HAS BEEN MOVIN AROUND A LOT..CLOSED AT 200 (+8.5%) YDAY..WIT STRONG VOLUMES

WHAT DO U SAY SAINT..SHUD WE GO LONG

RGDS
GAURAV

Hi Gaurav,

Looking great,but I prefer to get in on the move before it actually happens.As far as I am concerned,best to wait for a pullback for an entry.If in already,great.It's a HOLD.

HappyTrading!
Saint