Some Good Steals...

[roneeth]

Hello Amit!

Elecon Engineering closed at 600 today.Could you please give targets for indusind bank and Dena Bank......

Regards

Roneeth

 

[VICKY_SEEKINGINR]

From yesterday's call:
UCAL Fuel called at 270 closed at 277 after testing 289 off.
CenEnka called at 249 closed 256 after 264 high.
HighTech Gears called at 173.55 closed 195 after 197 high.
REI Agro closed 204 after 211 high. Called at 188.
At some point during the late session, funds were diverted to midcaps where the rally came for scrips outside the indexes. Past 2.30, the money churned back to largecaps taking the indexes up past the flat trade all day.

As I had suggested earlier, Rolta is heading to 200 initially, after a close at 179 off today. Way high to enter easily, I'd say...but it's going places in the mid term apparently.
Could be a nice intraday play for tomorrow too...after a pull back at profit booking in the morning. Cautiously though...this is known to move several %points in either direction quickly.
Regards.

Hi Amit.

Now Glenmark is moving, Volume is also increasing..
right time to enter? plz comment.

Thanks

 

[naga2054]

Amit..
If u can look at Narmada Gelatines.. is it what is called an ascending triangle.. intutively looks like it will again correct down to somewhere around 75. How do we judge the support and S/L for the same..

And lastly, is it a good scrip to take on at the "derived" support levels.. sharekhan has come up with a positive report on this scrip.

Nagzu

 

[AMITBE]

Hello Amit! Elecon Engineering closed at 600 today.Could you please give targets for indusind bank and Dena Bank...... Regards Roneeth

Hi Roneeth...great move in Elecon...looks like it'll exceed our target of 650-700 in 4-6 months, eh? Let's see where we are at the quarterly results next. Do update.
Indusind...you have not given your entry. Has been in a mid term uptrend. A classic textbook move after a double bottom at 50 levels end March, end April has brought things here at 79.50. Again last month there is a double bottom at 77 levels on the weely reading. The ususal outcome, an upside, has not materialised...yet. 83 is the mark to cross for that to happen. All told, the trend points to 100 plus in not too long...a few weeks. It does have a slow gait.
Dena Bank...has a struggle with 37-39-42 levels. It's correcting/consolidating, and an upside would come past 42 and does not appear like a lot to ask. It's a new uptrend in the mid term currently. Let's wait to see 42 taken out.
Regards.

 

[AMITBE]

Hi Amit. Now Glenmark is moving, Volume is also increasing..right time to enter? plz comment. Thanks

Hi Vicky...you've been coming in with some good ones lately...wassup?
Yes, Glenmark is starting to look good, and while I won't advise an entry at today's close, be alert...it can come any time. The volume shot up, and on daily charts there is congestion ahead till 315...same with weekly readings. If you can get in and be disciplined with a s/l at 296, take your chances. Better still, coming in at 296 at a possible pull back would not be bad too. Be cautious.
Looking at Kotak, it reacted at 220, today and last month too. The pull back today came on decreased volume and the buy is still on. Wonder if you got in? Update tomorrow, please.
Regards.

 

[roneeth]

Hi Roneeth...great move in Elecon...looks like it'll exceed our target of 650-700 in 4-6 months, eh? Let's see where we are at the quarterly results next. Do update.
Indusind...you have not given your entry. Has been in a mid term uptrend. A classic textbook move after a double bottom at 50 levels end March, end April has brought things here at 79.50. Again last month there is a double bottom at 77 levels on the weely reading. The ususal outcome, an upside, has not materialised...yet. 83 is the mark to cross for that to happen. All told, the trend points to 100 plus in not too long...a few weeks. It does have a slow gait.
Dena Bank...has a struggle with 37-39-42 levels. It's correcting/consolidating, and an upside would come past 42 and does not appear like a lot to ask. It's a new uptrend in the mid term currently. Let's wait to see 42 taken out.
Regards.

Hello Amit !

Thanks for the analysis. Indusind entered at 73

Regards

Roneeth

 

[AMITBE]

Amit.. If u can look at Narmada Gelatines.. is it what is called an ascending triangle.. intutively looks like it will again correct down to somewhere around 75. How do we judge the support and S/L for the same..
And lastly, is it a good scrip to take on at the "derived" support levels.. sharekhan has come up with a positive report on this scrip. Nagzu

Hi Nagzu...yes, it does appear as an ascending triangle, more distinctly on weekly charts. What's the reason, if you can find a reason to your intuitive sense that it may correct to 75?
Below the CMP of 92.85, there is evidence of firm support at 89 from all readings. Further down is 82-85. If the entry is recent, say at 85 or so, I'd exit at a breach of 82. Should it drop to, say 85, I'd get on coming up at 88 to make use of the momentum to carry me above 89 to safety.
If it corrected to your 'felt' 75, I would still wait to take it past 85, allowing it to come through the congestion at 75-85 without me getting bumped around in that maze.
Regards.

 

[nn0023]

Amitda
Bought Cent. Tex At 320/= Levels. Is It Ok?

Thanks

Nandan

 

[AMITBE]

Amitda Bought Cent. Tex At 320/= Levels. Is It Ok? Thanks Nandan

Hi Nandan...yes it's ok, but don't be in a hurry..it's going to places in the mid term. If you'd hold for such a time frame, keep s/l at 310, or even at 303. Looks deep, but will do fine...and unlikely to be tested in a hurry.
Regards.

 

[AMITBE]

Hi transell, iamvivek, caprice...there are queries from you here still. Will do tomorrow...early session, ok?
Too late now.
Thanks.