Some Good Steals...

[AMITBE]

Hi Amitbe, Today certainly proved you to be absolutely spot on.
All resistance levels along the way to 545 were breached. However, do you think it will now be range bound or will it again break the shackles. I shall try to analyse the pattern and return tomorow for your expert and valued opinion.
Thanks once again. bmcg

Something interesting, as there has been talk of the Cup and Handle breakout currently, if you observe the bar-chart of Tata Motors from Feb 15 on, there is a trace of such a formation in the making...not quite the classic C&H, but still a trace. All it needs is a sharp jump in volume and a breakout to prove it.
Regards.

Hi bmcg...thanks..
My above quote is from last night...check the chart if you can from Feb 15 to yesterday...and see what happened today.
Good fun, eh?
Regards.

 

[AMITBE]

hi amit,is it ok to buy mangalam cement&andhra cement now? thanks,reejan

Hi reejan...sorry friend...this one got buried and just saw it.
Mangalam has several tough levels above its cmp of 82.75...all the way up into the 90s. The short correction continues and a close at 98-100 would set it off higher.
Andhra Cement has recently started an intermidiate uptrend, and here too there are some pointed rsistances overhead at 47-53-56. A close above these with volume would be a good entry.
I like Andhra Cement more for the mid term. It has a better diversified product portfolio and the gains are likely to be more, relatively speaking.
Both are good counters for holding in the mid to long term.
Regards.

 

[AMITBE]

I intend to purchase ITC at the present level. Please advice

Hi dksarma...the following link is from a couple of days ago, one of my postings on a query on ITC:
http://www.traderji.com/showpost.php?p=21077&postcount=1466
This would be valid for your query too.
Thanks and regards.

 

[vizzie]

hi amitda

gammon . a nice move today.
was in news for a GDR issue recently.
what say? can enter at CMP ?

vizzie

 

[AMITBE]

Hi Amit,
Can you post your comments on Hyderabad ind [email protected] rising steadily after taking a beating during free fall.
Your comments are appreciated. Thanks & Regards, Ashish.

Hi Ashish...there is some great story behind this counter as it keeps making new highs.
It's a CK Birla group industry, and product range covers fibre cement corrugated & plain sheets, aerated concrete blocks, calcium silicate insulation product, jointing material for auto gaskets, plant & machinery for fibre cement products etc. In addition to this there is valuable property as well.
Following a strong runup, it's in a nice consolidation phase where it frequently has tested 610-620. For now the trading range is 580-610, and a close over 620 should set it onwards again. First target is 700 plus. Do keep a close watch...should the trading band get narrower, the chances of an upside would be imminent. You would be getting in high, but still a pretty decent ride left on it.
Regards.

 

[AMITBE]

Hi Amit,
I am new to this forum and this is my first post.
Can you comment on Aarti Industires and Ashok Leyland. Thanks and Regards, asp

Hi asp, welcome to this great forum...I'm sure the only one of it's kind for all the learning and trading wisdom. And welcome to my thread, it's great to have your first posting here.
Aarti Industries was called by me a few weeks ago, at about 120 for an initial target of 160. At 155 off tonight it's pretty much there.
But...there's more here now. 159 is the 200 day Moving Average, and I expect a fresh upside past a close above this. We are close to it. 175-180 is likely to be congestion area, and past this a climb to 200 plus and more, is likely.
Ashok Leyland is another good story, but only if one is willing to hold in the mid to long term. It is in a nice primary uptrend, and consolidating now. A close above 30-31 should take it to 38-40, but will take time. The stock was split in June last year from Rs.10 face value to Rs.1. The CMP on the pre split value would be about 280. Correspondingly, we are talking of a target of 380-400 on the pre split valuations. Do remember the time frame...mid term at least.
Regards.

 

[karthikmarar]

Aarti Industries was called by me a few weeks ago, at about 120 for an initial target of 160. At 155 off tonight it's pretty much there.
But...there's more here now. 159 is the 200 day Moving Average, and I expect a fresh upside past a close above this. We are close to it. 175-180 is likely to be congestion area, and past this a climb to 200 plus and more, is likely.
Regards.

Amit

Pardon my ignorance...how do you say 175-180 is likely to be a congestion area..

regards

karthik

 

[AMITBE]

hi amitda
gammon . a nice move today.
was in news for a GDR issue recently.
what say? can enter at CMP ? vizzie

Hiya vizzie...haven't seen you in a bit? Keeping well I hope.
I had not tracked the news of the GDR on Gammon, but it had been consolidating very firmly for a few weeks, followed by an orderly pullback a few sessions ago, and then the brealout today. I'm sorry you had missed it earlier.
The call is a tad difficult, only from the market angle.
Even so, the target...or targets ahead are great in the mid term...500 first and steady progress all the way beyond. Try to get in at any decline, perhaps tomorrow if some day punters come for a bout of profit booking. Even should the price decline after entry, no fear. Looking ahead to the next quarter result season and beyond, Gammon is well placed.
My only worry is this GDR thing. At times it can work against the counter if the GDR opens at a price lower than the CMP here, in Dollar terms. This is where Indiabulls got hit hard recently where it seemed firm at 250 off and the GDR was issued at 230 off. The public panicked and sold heavily.
All that aside, Gammon is a different story, and is never likely to attract any disparaging analysis from the dense experts in the media...where Indiabulls is routinely beaten down. But that's another story.
Yes, go ahead vizzie...take the Gammon ride.
Cheers.

 

[AMITBE]

Amit
Pardon my ignorance...how do you say 175-180 is likely to be a congestion area.. regards karthik

Hi Karthik...I'm not quite sure the reason for this question..
If you go back to the charts to the pre bonus date on Feb 8 this year, you will see that the last traded value before the 2:1 bonus is 365, and the next day it opened at 124.
I am looking at the historical data pre bonus and looking at the congestion there. It would normally correspond with the current price movement too.
You will need historical data from 2003.
Hope this is what you had wanted to know?
Am waiting here. Do post back.
Regards.

 

[karthikmarar]

Amit

I am sorry...to think back the question was a bit foolish... the problem was i am looking at a bonus adjusted chart.... so did not see any value above 160...that is why I was wondering.... anyway...see ... I learned another mistake of mine... always look at pre bonus/ pre split data to get the real picture...thanks ....sorry...I am still learning...

regards

karthik