New Intermed Uptrend!!

[Saint]

Hi Saint,
I am new to trading but have been tracking your comments - find them useful but like Srinivas (above mail) have not been able to use them actively. Whats yr take on tea stocks. they seem to be rallying upwards. Thinking of a long call there. Thanks.
- Kamal

Only on a pullback from here.You have missed the big momentum move up,don't compound matters by entering at the top.Wait for a pullback for an entry.

Saint

 

[Saint]

Dear Saint
Thanks for all your guidance and support .. today TATA POWER closed at 500.70.. Will keep a close watch ..
Regards
Vinsu

Most welcome,my friend.

Saint

 

[Saint]

Hi saint,
How have u been lately.

I needed your advice and help on a TA i have done of Everest kanto.
U might remember that u had made a call on this some time back..

Im posting a chart of the TA
I have listed the observations on the chart itself

..please let me know if im following the right pattern and analysis

Would look to ur response over the weekend..

Regards
ML

Hi ML,

Great going,my friend.

A few adds :In addition to what you've written,we have a negative divergence in TRIX and RSI which means nothing till a confirmation.We are sitting on a nice support.Breaking of this support and we have lost interest in this one.In short the last 1/4 left with us,raise stops to 354.If hit,we're out.We are not interested in showing allegiance to any company,we are here to generate profits.We go else where to make more.......

Great stuff,my friend!
Happy Trading!
Saint

 

[alok]

I want to know one thing from boarders:

Today HCL - infosystem is quoting near 170 - 180 Rs nearly 30% down than earlier trading days... Was there some news or some sort of corporate action? Any idea???

Thanks in advance for your reply...

 

[Saint]

Saint, for PNB i think it is a Head and Shoulders Formation. Your comment plz. If this is a H&S formation then what would be the Entry Point, Targets and S/L etc.

Thanks,
nkpanjiyar

Apologies for the delay.....was caught up in a million things.Looks like the charts already gave you the answer you were looking for.

Yep,PNB a H&S on the daily charts.Entry would have been when the neckline cracks ie at 440.An alternate entry is when the breakdn confirmation happens and then we get a pullback rally towards the 440 area and is unable to take out this area of resistance.......this becomes another area where you could go short.On the other hand,if the rally shoots past the neckline,this is a H&S failure,and is bullish.

So,to put in brief :Entry :440,
Tgt: 385 (measure the height of the head to the neckline ie 55.Now the tgt is 55 rs from the neckline:440-55=385)
Stop :The high of the rt shoulder=471

All the best!
Saint

 

[Saint]

I want to know one thing from boarders:

Today HCL - infosystem is quoting near 170 - 180 Rs nearly 30% down than earlier trading days... Was there some news or some sort of corporate action? Any idea???

Thanks in advance for your reply...

Hi Alok,

From Capitalmarket website....

HCL Infosystems plunged 27.7% to Rs 186.45 on news that it has lost a part of Nokia hand-set distribution business to the manufacturer..


A huge 5.2 lakh shares changed hands in the counter on BSE.

In a statement to the stock exchanges, HCL Infosystems said on Friday (17 February), the company and Nokia have decided to jointly address GSM distribution in the country. Nokia and HCL Infosystems will co-exist as distributors of GSM-based Nokia hand-sets in the country which would result in a partial loss of the distribution business to the cellphone maker.

With demand soaring for handsets, HCL Infosystems registered a surge in its revenue from the sale of Nokia hand-sets in recent years.

HCL Infosystems posted a 6.1% rise in consolidated net profit for the second quarter ended 31 December 2005, to Rs 63.77 crore against Rs 60.1 crore in the corresponding period of the previous year. Its consolidated sales rose 40.69% to about Rs 2,807 crore in the second quarter, as compared to Rs 1,994.8 crore in the year-ago period. Growth came from the office-automation and telecommunications businesses.

HCL Infosystems enjoys a 13% market share and is giving a tough competition to MNCs in the brand-conscious personal computers market. The company has initiated launching India-specific products through its computer system business, to make them affordable for the ordinary Indian people. As a part of this initiative, the company has launched a personal computer with a price tag of Rs 9,990.

Saint

 

[alok]

Thanks Saint for the quick info.

 

[Saint]

Thanks Saint for the quick info.

Most welcome,my friend......

Saint

 

[Saint]

Hi Saint !!

hope ur doin gr8..
been out for a while..
lookin for sm lower levels..
who knows. might see sm soon..


one of ur previous callls, usha martin is showin sm strength..

givin it a try.. pls correct me..
Had a higher weekly closing last 2 last week after about 5-6 weeks..
but broke that bullish trend immediately in the next week.
again high weekly closin.
looks gud for a buy over 172 with a SL of arnd 168.
stood today as well with the market hammered.

Just learnin, as I said. Would luv to have ur views.
N yes I htink u missed my post on shaw wallace. How does it look 2 u?

cheers
vizzie

Hi Vizzie,

Missing for some time.....anyway,great to have you back!

USHA MARTIN :Looking good for now,not sure what it'll do if the market topples over.But looking at this stk individually,best to wait for now.Buy if it crosses 181 .We are still in a symmetrical triangle,let it demonstrate stregth first and then latch on to it.

SHAW WALLACE :In the middle of a pullback,but weekly charts look good but this should not fall through the 148.5 previous pivot low.If this holds above that area and we get a nice pullback,probably a good one...........but wait and watch on this one for now.

Happy Trading!
Saint

 

[moneylaundrer]

Hi ML,

Great going,my friend.

A few adds :In addition to what you've written,we have a negative divergence in TRIX and RSI which means nothing till a confirmation.We are sitting on a nice support.Breaking of this support and we have lost interest in this one.In short the last 1/4 left with us,raise stops to 354.If hit,we're out.We are not interested in showing allegiance to any company,we are here to generate profits.We go else where to make more.......

Great stuff,my friend!
Happy Trading!
Saint

Hi Saint,
Thanx so much for the analysis..
I missed out on the negetive divergences...
Will start following TRIX and RSI more closely while doing TA from now onwards
Thanx for the guidance.

Regards
ML