New Intermed Uptrend!!

[Saint]

Re: hindalco:sell now?

Hindalco had hit new 52 wk high just 4 trading days ago and pulled back a little on decreasing volume. I don't see any reason why you should sell it. If it stabalizes here and breaks out again into new highs you could actually see much higher prices soon.

If you want to feel comfortable you can put a stop around 134, but I wouldn't advise you to sell it at this point. I say let it ride the nice trend it is on and just keep raising your stop level.

--SwingTrader

So totally agree with Swing Trader........For now,you are in the trade,The trend is up.Your stops are not hit.Raising the stops to 134 and trail stopping upwards is the only thing to do.Ride the trend as aptly put by Swing Trader.

Saint

 

[Saint]

Hello Saint..

Thank you very much for the timely guidance would not know what I would have done without you seniors..

I heard Ravi T is sick.. Hope he recovers soon...

Also I wanted to know is Andhra Sugar still on for 200 or should i not think of entering here..

perfectly obliged

Nishant

Hi Nishant,
Presume u r already in Andh Sugars.........great trade,my target is around 200.

Happy Trading

Saint

 

[Saint]

Keep Alstom Projects on your radar...still in the middle of a p/b,but this area is holding.Not yet......but soon to be resumption of an uptrend.Shall keep posted.

Saint

 

[Saint]

Also ABBOT INDIA ......looking good to resume its uptrend.On the radar only for now.We'll enter once there's a clear buy signal.

Happy Trading!!
Saint

 

[karthikmarar]

Keep Alstom Projects on your radar...still in the middle of a p/b,but this area is holding.Not yet......but soon to be resumption of an uptrend.Shall keep posted.

Saint

Hi Saint

Just out of curiosity....I thought the trend was slightly down. Did you mean the 200 area is holding. It should face stiff resistance around 215..

But I do notice a slight bullish divergence in the MACD and ROC. Is it true ..or..am I having illusions.

Enclosing chart for reference.

regards

karthik

 

[leo885]

Re: hindalco:sell now?

Thanx guys.

 

[karthikmarar]

Hi Saint

It me again...to haunt you...

Is BILT breaking out of consolidation?.....Good volume and broke the resistance at 125...

If you have time also look at ESCORTS... moving up on good volumes. May resume uptrend if it breaks 117 ??

Is Abbot not quoted on NSE. I dont have the chart. Missing god oppurtunity to analyze and learn.

regards

Karthik

 

[naga2054]

Also look at Mega corporation ( only BSE) Started an immediate uptrend.

Targets et. al. Seniors pls. help.

Thanks
Nagzu

 

[alok]

A question here for Sain Ji: I feel exide, preins (pricol), aarti industries and deccan goldmines are also forming an immediate uptrend....

However, I want to know some more about arvind remedies, indian acrylic, Praj industries and Birla VXL... I would appreciate if one can tell me about these counters.

Thanks.

 

[Saint]

Hi Saint

Just out of curiosity....I thought the trend was slightly down. Did you mean the 200 area is holding. It should face stiff resistance around 215..

But I do notice a slight bullish divergence in the MACD and ROC. Is it true ..or..am I having illusions.

Enclosing chart for reference.

regards

karthik

Hi Karthik,
Sorry for the delay in answering.........No,not an illusion,also a bullish divergence on momentum indicator,if you use that.As for the trend,we have a stock that is making a neat pullback,matter of time before we see a resumption in uptrend.From the daily charts,we so far have lower highs and lows,but this sideways pattern last few days seems to be forming a higher pivot low.If we take out 215,and close the day above 215,that is confirmation.So what?What do we do about it right now?Well,that depends on your aggressiveness.You could either wait for confirmation,or take it here and add on confirmation.I am in,and will add on a close over 215.....but with a strict stop loss of 200.As always,If this is taken out,am no more interested in this for the time being.

Happy Trading!!
Saint