Some Good Steals...

[stockfreak]

hello

I still think MAHINDRA UGINE is a solid pick and according to me already hit breakout and will march towards my target of 145 in a few weeks.

SF

 

[stockfreak]

hello

Karthik, good to see you today.
Any F&O calls in your mind for tommorow.

SF

 

[naga2054]

Hi Nagzu..thanks for the kind words...now it's your turn to come in and take charge of things here soon!
When we speak of a breakout here, we are concerned with the dynamic processes that play out at the verge of the breakout itself.
In your example of D-Link, this action would have taken place at 128 where the consolidation and breakout occured. Later in the new uptrend, 142-145 are points of short term divergance, as there is a double bottom here. Similarly 155 too is a divergance level as twice there the price moved down, including forming a double top here. The current price action is the continuation of the intermediate uptrend that started at 128.
The point of the breakout is not necessarily a stop loss should the breakout seem to be failing. The previous weekly high or low would act as immediate supports in most conditions.
Also, a key level at times is not a singular exact point. It can often be a bit of an orb on either side of the point. Say, if 128 is a long term resistance, during critical price action this could stretch to 125-128-130.
Hope I was clear? Do comment.
Regards.

Ya AMit.. i see the double bottom and double top forming there.. looks like this is another thoery during reaction phase.. i also heard that forming of a double bottom is a bullish sign.. dunno much.. trying to collect pieces of information.
ur funda of support and S/L was nice.. appreciate ur analysis..
please let us know any other classic breakout examples.. esp. in A group stocks..

and thanks once again for the techno knowledge..
Nagzu

 

[AMITBE]

hi amit.. can u advise me on Petronet LNG. Does it have a good upside in medium term. Can I enter this stock now...

Hi talktoa...nice find. On the up, this is for a really short trade fo me. To the contrary, a long term investment would be really great.
Go in if you like, with 53.50 immediate s/l and 52.50 as a final protective one.
Regards.

 

[AMITBE]

Hi Amit

Talking about Breakout, Please allow me bring here a post of mine posted in the thread breakout after your illuminating post on the same subject. This is just to provide more examples on breakout phases you talked about.........
Present status

1.Ajantha Pharma Amit has thrown enough light on this.

2.Mahindra Ugine Still in the reaction phase. After reacting to 116.250 (support) rose up marginally today. But the required rise in volumes was lacking.

3.KCP In the reaction phase. Presently at the support level of 125. Rose a tad today. But again the volume was lacking

4.IVP Reaction phase ? Dropped through the immediate support level of 66 and to the next support level of 61. Today it opened smartly at 66, but dropped to 62.7, 1.4 point above the previous close. Volume was also low.

5.Eicher-In the reaction phase Todays Low went below the previous support at 110. However closed at 122. Volume was very low.

It would be interesting to watch these in the coming days. Amit do comment on these if you get time. reagrds, karthik

Hi Karthik, this is a great tracking exercise you're doing. I had noticed it there earlier, but could not come back to it.
As I had pointed out to Nagzu, my write-up was more pertinent to the immediate breakout phase, close to the high right there.
The new uptrend having started at a successful breakout, the price action in the ongoing uptrend may depend on several factors like the intrinsic valuation of the scrip, news, momentum etc., and new conflict zones are created in this process like supports and resistances, and consolidation, intermediary upsides etc.
The crucial point would be the initial breakout signaling the intermediate trend to either direction.
Good going, Karthik.
Regards.

 

[AMITBE]

Hello Dear Amit.. any view on kotak bank?
today enterd at 195 but exited 199.50 but its Running very fast.. have any idea for long term. Thanks

Good one. It's a buy. Try taking it around 214 going up, but should it open high watch for some decline before jumping in if possible. It's important to see the build up first. I mostly don't get in first thing. But then, some bullish scrips don't wait around. Take it as it comes.
Regards.

 

[AMITBE]

Amitbe,
Any idea on Magna Electro (quoting presently at 170/- levels) and Videocon Appliances? Kamalesh

Hi Kamalesh...Magna has run up very steeply. If looking to enter, you may want to wait for a decline. 150-152 are good supports..see if it drops here for a bounce back? Should these levels be broken, 143 would be the next. On the other hand it may want to rally higher from cmp 156, then if so, look for a cross over at 162 with volume for entry, but cautiously as the climb has been quick.
Videocon Appliances is looking great for an upside any time. Look for 38 clearing before coming in.
Regards.

 

[AMITBE]

Had been calling Aftek in its second coming since 126...zooming up at 138 plus.
Bank Of India was called yesterday at 127...up at 131.70. Watch for a decline to around 130 off to enter.
Cummins testing new highs at 161 off.

 

[AMITBE]

Aftek has tested 139, a resistance point. Now back at 136. 135, another resistance has been taken out, and past 139 first target 145, then 155.
Rolta has deceived again...tested 178.50 after a nice pull back to 163. Had expected 175 tops. Heading for 200 plus in the near term, likely.
GujNRECoke has broken past 145...155 next.
Good move in KtkBank...needs more volume to clear 125.

 

[mail2joshi]

Hi All,
Any Idea about Vishal exports ?

Regards
sjoshi