Some Good Steals...

[jaideep]

best picks at cuurent level:
Crompton Greave,
Bhel
Siemens
TV 18
Amtek Auto
bharti
Bharat Forge
ITC
ICICI Bank
Relaince
Hotrel Leela
IDFC
Gujarat Ambuja
Gammon
Appolo Hospital
Indian Rayon

All these scripts will show relative strenth to the any downside in the market and will give maximum return to the investors.

Happy investing.

Learn from Amit's last post above dvs_solanki. Just see the rationale behind his post. Difficult to find buyers for your argument/suggestion otherwise, at least in this great forum of inteligent investors& traders.

 

[sam]

Hi Sam, 130-135 is good support zone. Below, 125-129 is also firm. From some ancient data, 120 would be stopped out for a long term investment.
To the up, 137-139-143-146-155-165 are some important levels. Of these, 153-165 may be more difficult than the others. Once above any of these, they would be supports. Past 170 the pogress should be quicker.
It does appear the climb may take time...I am looking at data from 1991!! Even so, historical data is what makes us look into the future.
In the next few weeks ITC would be announcing the second quarter results, and the expectation is it should do very well. That would be the trigger to move it along, and in fact, it should begin to gain momentum before they come out, in anticipation. In the mean while, let it drift along, and watch for the support levels mentioned above. Should it drop to 130 and bounces off, that would be a chance to add exposure at 135 on the way up.
Do update every so often.
Regards.

Thanks Amit for the Technical support which u are providing for people like me who r still in the very basic stages of TA. Great going and keep up the Great work.

"From some ancient data, 120 would be stopped out for a long term investment" I am sorry I was not able to understand this statement - maybe due to my lack of knowledge in the jargon! What exactly does stopped out for a long term mean? Does that mean a long term investor should keep away when it touches 120 or the other way round!!

Would appreciate your reply on this.

Thanks again,
-Sam.

 

[AMITBE]

Thanks Amit for the Technical support which u are providing for people like me who r still in the very basic stages of TA. Great going and keep up the Great work.

"From some ancient data, 120 would be stopped out for a long term investment" I am sorry I was not able to understand this statement - maybe due to my lack of knowledge in the jargon! What exactly does stopped out for a long term mean? Does that mean a long term investor should keep away when it touches 120 or the other way round!!
Would appreciate your reply on this. Thanks again, -Sam.

Hi Sam...sorry there friend...I was a bit careless.
Stopped out would mean that the stop-loss level has been reached and the exit from the holding has been effected.
In the case of ITC, in my view, a short short term trade from your entry would be stopped out if the price were to drop below 129-130.
For the long term, the same would be true at 120.
Do hope this is clear now.
Cheers.

 

[swapnil007]

hi amitbe,
i have been following your advice since a long time and they r really good thankx for that well i am holding GR cables @ 20 what should i do with it can i average the stock at current levels

 

[AMITBE]

hi amitbe,
i have been following your advice since a long time and they r really good thankx for that well i am holding GR cables @ 20 what should i do with it can i average the stock at current levels

Hi swapnil007...unfotunatly you came in around its highest.
As we know the penny stocks and smallcaps are in a mess at this point and the market sentiment does not permit making a call for fesh exposure in these, whether to average up or not. That would amount to throwing good money behind the bad.
However, I do remember coming across some info suggesting Gr Cables is a petty decent counter fundamentally.
At today's close, 13.50, it is a little above a support at 12.50, and there is a faint indication that it may seek a higher level above 13.50 but not a lot, and again the market sentiment and the Indexes are the prime movers currently.
If your exposure is not too large, you may make use of every rise to sell at least a portion of it. You would book a loss, but the money released could be deployed in a safe trade at some point.
Or else, just ride it out...some day there would be a recovery...it may be long coming and your capital tied up.
Sorry, but what else is there to suggest..
Wish you the best.

 

[karvind79]

Hi amit,

How are you? GOD BLESS you FOR ur service.I hope u saw my posting in this equties forum.Kindly post ur comments on this and it was more useful for our friends.Kindly see it if not viewed yet.

I have one confusing Stock in my hand. i.e BHARAT GEARS and i bought it at 112. Now it was 89 after a Friday correction.It has good forien holdings in shares and fundamentally moving from neagtive to positive and technically it was in Negative for a long period and when it move towards positive (very little) , market will get corrected and come back to its position.What i wants to do now.Hold it or Sell it .Help me as a senior like u i hope u get some news (bad or good) regarding this and eapecting ur comment on this.

Thanks in advance

From
Arvind.K

 

[AMITBE]

Hi amit,
How are you? GOD BLESS you FOR ur service.I hope u saw my posting in this equties forum.Kindly post ur comments on this and it was more useful for our friends.Kindly see it if not viewed yet.
I have one confusing Stock in my hand. i.e BHARAT GEARS and i bought it at 112. Now it was 89 after a Friday correction.It has good forien holdings in shares and fundamentally moving from neagtive to positive and technically it was in Negative for a long period and when it move towards positive (very little) , market will get corrected and come back to its position.What i wants to do now.Hold it or Sell it .Help me as a senior like u i hope u get some news (bad or good) regarding this and eapecting ur comment on this. Thanks in advance From
Arvind.K

Hi Arvind, thanks for the blessings my friend...graciously received. God bless you too.
Yes, will certainly post my views on the stocks you have put up...later over the weekend. Will respond to you query too, later.
Thanks!

 

[bmcg]

Hello Amitbe,

What are your vews on Gammon India?

At the pesent CMP it seems like a decent point to get in. On the down side, I feel it has support at 405 and 402 levels and resistance at 420 and 435 levels.

When and where do you think it is headed over the short term of say 4 weeks.

As usual, your views will be highly appreciated and heeded to.

Thanks.

bmcg

 

[joy_mitali]

Hi AMIT,
I would like to have some info---on BEL---and ur views in it---
I made some profit in it and discussing the nature of its trading on FRIDAY----to show its importance--even maybe on Monday---
On Friday--- 10 mins before---the market closed at 11.30---BEL---rose from 830 to 849----I tradedon it from 835--842---Just when the market reopened---I felt it was getting weak---and I shorted at 147-----covered at 138----It fell down to 829-----I bought again at 831---sold at 839----But it went to as high as 846----before closing around 842--843(Cant remember)---around 7% up---I think there may be some more juice left in it----Do tell me about any news flows of it----

I would also--like u to discuss on GEOMETRIC(GEOSOFT) at 110(which I feel quite attractive---keeping a target of 122)----and INDIABULLS(At this stage---which I also feel quite attractive----keeping a target of 215---

U r carrying this thread in great guns----Congrats ---my friend---
Regards,
joy_mitali

 

[AMITBE]

hi all,
can any one solve this problem for me;
icici bank oct futures is now @581
icici bank spot is now @612
why this huge discount? I am long on oct futures @582, spot is gaining where as disount on futures is getting wider. Why like that?
Whehter it is favourable for me to hold the futures stock of icici now or sell it on monday morning?
thanks,
usha

Hi Usha, Under normal circumstances, something like this would happen when a stock is expected to go ex-dividend, or good/bad results expected. Perhaps you should find out when ICICIBank is going ex-dividend? This could be one of the reasons.
On Thurrsday ICICIBank turned a little weak after RBI banned further FII purchases in the stock and lost more than a per cent in afternoon before recovering.
On the charts it's in a high over-bought zone, though in the all time high levels, and there is some faint negative divergence.
Difficult call here...the result season is upon us and the expected good result on this counter may certainly push it along higher.
Keep a close watch and see if it wants to move higher. If there is some short term weakness, you would not be far off the mark.
587-590 are good supports, and below this 582-585.
All the best.