Some Good Steals...

[roneeth]

Hello Amit!

India Bulls has taken a Big beating....

Regards

Roneeth

 

[AMITBE]

Yes Roneeth...there are raids going on at some brokerage firms in Gujarat...all the brokerage counters are taking a beating here today.
However...Indiabulls is a major player with a strong corporate like background. This is going to pass.
The market is very jittery and reacting to every piece of news badly.

 

[roneeth]

Hello Amit!

Your posts and the forum seems like an anchor to the ship stuck in a storm...

Thanks for your time and support.

Regards

Roneeth

 

[AMITBE]

Hello Amit! Your posts and the forum seems like an anchor to the ship stuck in a storm...Thanks for your time and support. Regards Roneeth

Hi Roneeth....thanks, just doing my bit amongst others.
Don't worry too much...the carnage is across the board, and when the confidence returns in the market, every second scrip in the good pack will be a dead steal. Things should be looking up soon.
Take care.

 

[bmcg]

Dear Amitbe,

I have been reading your recommendations time and again on the board and apparently you are a very knowledgable and well informed analyst. Perhaps better than what the Funds and FII's boast of.

I have just only started playing in the market.Could I get your views on Tata Motors and Tata Tea. Motors closed at 499.50 today. Also, I think the market free fall was more to do wth the herd mentality rather than any concrete reason. Would like to have your feedback as to how you foresee the session tomorrow and what scrips in A group are worth the exposure now.

Thanks

Bmcg

 

[transell]

Hi Amit,

How long do you expect this 'induced correction' (borrowing the term 'induced' from your other post under Nifty-Fifty') to last? I think you mentioned that the index has retraced to the 38.2 fib levels and we can expect some bounce back if the panic does not linger on. Following the correction (once it ends), are there any specific counters that are appealing to you or is it early to say?

Thanks.

 

[AMITBE]

Dear Amitbe, I have been reading your recommendations time and again on the board and apparently you are a very knowledgable and well informed analyst. Perhaps better than what the Funds and FII's boast of.
I have just only started playing in the market.Could I get your views on Tata Motors and Tata Tea. Motors closed at 499.50 today. Also, I think the market free fall was more to do wth the herd mentality rather than any concrete reason. Would like to have your feedback as to how you foresee the session tomorrow and what scrips in A group are worth the exposure now. Thanks
Bmcg

Hi bmcg...thanks for those kind words..
You haven't said if you are already in or planning on going in.
If in, then Tata Motors at 499 off is a little below some difficult levels which it has attempted several times over several months. The journey up from here all the way to 550 plus would be dense looking at the past patterns. Perhaps some news or stellar results may help it clear the congestion ahead, and so from a trading point of view I would not encourage an entry just yet. An investment could be considered, but with a long term horizon only.
Tata Tea...a great counter, but then it has been in a steep climb for a few monts since 580 levels. It may still have more than some steam left at 850 close tonight, but coming in at a deeper pull back would be nice. I'm not sure if we wold see a significant pull back though and it's above some good supports here. However, should it drop to 825 off levels, taking an entry at 835 on the up could work. Or else, get in at any dip but with a strict s/l at 825.
For investment, this one is good...has a long way to go yet.
Regards.

 

[SSM]

Hi AMit
Thanx for the levels. Do u also hold any stock /index short position? Isnt it the only way to make money in a market like this? Besides being a healthy hedge against your longs in cash market.
Regards

 

[AMITBE]

Hi Amit, How long do you expect this 'induced correction' (borrowing the term 'induced' from your other post under Nifty-Fifty') to last? I think you mentioned that the index has retraced to the 38.2 fib levels and we can expect some bounce back if the panic does not linger on. Following the correction (once it ends), are there any specific counters that are appealing to you or is it early to say? Thanks.

Hi Transell...no, not sure when the market will recover. Once the signal comes, will certainly be posting some good steals.
Thanks.

 

[AMITBE]

Hi AMit
Thanx for the levels. Do u also hold any stock /index short position? Isnt it the only way to make money in a market like this? Besides being a healthy hedge against your longs in cash market.
Regards

Welcome SSM...no short positions here, I'm not really into it. Made some money on McDowell and Visualsoft today though.
I had offloaded a lot of my positions a couple of days ago, so no hedging needed. A few good ones are still on and will take things from here.
Thanks.