Some Good Steals...

[roneeth]

Hi Roneeth...I would wait for 141-142. Depends on were you entered?
The correction is perhaps a temporary one. The trend is still well present, the consolidation firm and sideways.
I'm holding...till 141.
Most good scrips are looking bearish at this point.
Regards.

Hello !

Thanks for the response.

Roneeth

 

[AMITBE]

hey amitda
how r u?
financial technologies - what;s up?
pls throw some light in case uve been following the script.
vizzie

Hi Vizzie...I'm in on this from way lower levels so pretty comfortable here.
This one has been running high recently and with the recent close watch put by SEBI is cooling this off for now.
This is not you usual penny stock that are under a different kind of scrutiny.
The earning potential of the business model of FT is unusual and potentially great.
Not to worry...hold in the mid to long term...will travel a long way.
Cheers.

 

[madhura]

Hi
i am planning to enter india cements and finolex tomorrow..
my demat account will come tomorrow for icici! for these days i have been trading from friends account.
india-107,finolex-80/81
one more i feel is gujrat ambuja,rana sugars.
please comment
madhura

 

[AMITBE]

Hi
i am planning to enter india cements and finolex tomorrow..
my demat account will come tomorrow for icici! for these days i have been trading from friends account.
india-107,finolex-80/81
one more i feel is gujrat ambuja,rana sugars.
please comment
madhura

Hi Madhura, seems like you are getting on with your education in tech analysis. Keep it up!
Just as an exercise, why don't you do a technical review of the scrips above and suggest an entry level for each, and the likely nature of it's move in the sessions to come, along with your reasoning. Don't bother with targets for now.
We could have an interactive discussion. What say you?
Cheers.

 

[madhura]

Hi Amit,
yeah i like this idea of interactive discussion!
i am putting some points for those 4 scrips, which is according to my understanding,please correct me if i am wrong:
i have seen charts from June to sep for more clarity, and for guj ambuja from jul to sep as it was split it seems:

guj ambuja-from july to sep...ascending trend with least resistance level...will see 86 in 1 month
rana sugar-(june to sep)is in congestionn area from 31 to 35--entry level 35

india cements-(june to sep)supports-97,111(before crash),resistance at 115, but will break soon seeing ascending trend..should touch 130 in month--now can be entered into ??

finolex-(june to sep)support 73-67-was resistance at 81 level which is broke out...if continues same trend,will shoot 95 soon--after it crosses 83 may be?

Awaiting your reply.

 

[AMITBE]

Hello Dear Amit..Now Market is Good to enter?
Please tell me the support level for indiabulls. today its up with vol..Thanks

Hi Vicky...long time no see?
I'm quite sceptical about the market at this point. The Sensex and the NIFTY are running up yet again, and the memory of last Thursday has been haunting me lately.
No consolidation, meagre volume, poor market breadth...a fine recipe for disaster.
I'd rather sell positions than buy in.
Indiabulls is at a support tonight, but been volatile and unstable for a while. Not a time to buy this. Not till it can sustain above 235.
See ya later.

 

[AMITBE]

Dear Amit,
Thanks you & Keep the silent service to us.
Regards, Anil Sharjah

Hi Anil..you're always welcome.
But do tell what does the silent service mean?
Cheers.

 

[AMITBE]

Hi Amit,
yeah i like this idea of interactive discussion!
i am putting some points for those 4 scrips, which is according to my understanding,please correct me if i am wrong:
i have seen charts from June to sep for more clarity, and for guj ambuja from jul to sep as it was split it seems:
guj ambuja-from july to sep...ascending trend with least resistance level...will see 86 in 1 month

rana sugar-(june to sep)is in congestionn area from 31 to 35--entry level 35

india cements-(june to sep)supports-97,111(before crash),resistance at 115, but will break soon seeing ascending trend..should touch 130 in month--now can be entered into ??

finolex-(june to sep)support 73-67-was resistance at 81 level which is broke out...if continues same trend,will shoot 95 soon--after it crosses 83 may be?
Awaiting your reply.

Hi Madhura...good going here.
First thing, it's important to look at data as far back as possible. Very often some important clues are found from early on. Looking at data in the short term, a lot of the history is missed out, and also one cannot look too far ahead into the likely future moves of a stock.
Ageed, you ae unlikely to find historical data on GujAmbuja that would correspond with the curent prices. Yes, the way ahead appears clear, and here you want to look at the immediate supports in case there is a retracement. 73-74 seem good just below the CMP of 76. Further down, 70 is firm too, and this would be the s/l in a trade at this point. 68 is there too, but a bit too deep, and applicable if the position is for the mid to long term. Would have been interesting to see why you've targeted 86 in a month.

RanaSug has peaked intaday at 37 quite recently from where it fell sharply. I would be cautious here. You could keep an entry at 35, but only if the momentum is strong and the volume surging. If going in at 35, keeping in view the threat at 37 where another sharp decline may possibly come, I would stop out at 31 if in for a quick trend-trade. For a longer hold, 29 would be it.

IndiaCem, is looking good still with consistent volume. Yes, there is support at 96-97 which would be s/l too at this point, and 92 is final. 111-112 is immediate resistance above and then 115-118. Again, how about the target of 130 in a month?

Finolex, the support at 72 is final. Below here a recovery would take long to current level of 79 off. 82-84 are resistance now.
On the fundamental front, they produce PVC pipes for both construction and agriculture, and looking ahead should be well placed following the good monsoons. It's an old company...I think about 20 years, and a strong player. As the last quarter results were not up to the mark, I would be a little cautious here. Lately there has been a strong buying interest as this may be a value pick, but the breakout a few days ago has not really taken off yet. There has been a retracement at lower volumes, so technically the breakout phase is still on. Take it above 84 on the rise to be cautious. Here the final stop would be 75. A little deep, but stong support here.
Keep it up, Madhura!

 

[kkrish68]

Hi Madhura, if I may suggest, there is a book titled Tecnical Analysis Erom A To Z by Steven B. Achelis.
From here you will get a good understanding of the various indicators like MACD, RSI, MFI etc and much more...like what they are and how they work. It may not be easy to do an explanation of these for those who are new to the subject here. It's a well rounded book for beginners, and I'm sure there are others of its kind, but I found this most useful in my early days.
Explaining chart formations like touble tops and c&h etc are relatively easy to explain and comprehend in the limited scope of this space.
Once the fundamentals of tech analysis are broadly understood, together with its vocabulary and concepts, it would be easy to raise queries and answer them here.
This is what I feel. Do look into some books, there are several listed in the forum.
Thanks.

Hi Madhura

In addition you could also look up the web for examples and basic concepts. If you can lay hands on Smartstock (trial version-free download) then you may be able to look at examples of charts in NSE and BSE.

Best regards
Kishore

 

[kkrish68]

RanaSug has peaked intaday at 37 quite recently from where it fell sharply. I would be cautious here. You could keep an entry at 35, but only if the momentum is strong and the volume surging. If going in at 35, keeping in view the threat at 37 where another sharp decline may possibly come, I would stop out at 31 if in for a quick trend-trade. For a longer hold, 29 would be it.

Amit, Madhura

The charts seem to indicate almost a cyclical pattern as opposed to a trend (assisted by volume) which is needed to push it above the resistance level. What do you feel?

Does Rana Sug have significant FII investment or institutional support?

regards
Kishore