Some Good Steals...

[AMITBE]

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, yes as you've rightly said, Bharat Gears is coming out of losses, and last quarter it slipped compared to the corresponding quarter last year.
I have been tracking a couple of others in the same boat that are finding the going tough. Also, the last several sessions have been severe on most midcaps.
On techs, this is in a short term bearish trend. The immediate supports below the CMP at 88.85 are between 80 and 86. Below 80 it may dip deeper.
To the up, 91 and 95 may be difficult if there is not enough volume and momentum, and then 98 and 105.
Under the circumstances, the s/l would have been at 105 or 98 final.
I do hope some buying will come in on these good smaller counters in the next few sessions. If so, watch what it does. Should the weakness continue, use every rise to scale down exposure. Do watch 80 though.
Wish you the best.

 

[AMITBE]

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

Hi bmcg, Gammon has supports at 399-395-393. To the up, resistances are at 421-428-436-446.
While on weekly readings the uptrend is still intact, on daily data there is a correction.
I would watch this over the next few sessions to see what it wants to do.
If you are tracking this, see if it clears 412-417 and bring it up again please.
Thanks.

 

[AMITBE]

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

Hi Joy...great to see you again, and thanks for the warm comments. I do hope you'll be out and firing soon...been gone too long.
BEL closed at 851.80 after doing high at 857.50.
On the news front, BEL has declared payment of 72% Final Dividend on the paid up equity capital of the Company (Dividend @Rs.7.20/- per share), and it has fixed October 11 as the due date of Final Dividend for the year 2004-05...meaning BEL goes ex-dividend on 11th ?
It has broken out of the trading range it has been in for almost six months...700-800. Looking at the volume which has not been seen on this for a long time, and the velocity, one could assume there is more juice left here. Also as the dividend date is a week away, there could me more action left.
On Monday should the upmove continue, 875-890 could be the immediate range. 835 and 810 are supports. Keep a good watch

Geometric I would be cautious with. the downtrend has not given a reversal signal yet, and should it break 108, it may be going down further, to 104 at least. Yes, to the up 115-120 are possible but don't appear likely.
With Indiabulls too the outlook is not too bright. It has been receiving some bad media, and being volatile. However there is buying interest at lower levels, but 190 is important support below which it may drop further. To the up, 209-213-215 are possible. Should the midcaps stage a comeback soon, I expect Indiabulls to seek higher levels. Be cautious with these two especially, Joy.
Will see you later.

 

[AMITBE]

We continue to be cautious. No positions are suggested, and take profit at every rise is a must.
Thanks.

 

[VICKY_SEEKINGINR]

Hey Amit.. Good Morning..

How is market now?

nice recovery in Indiabulls after touching 165?

Thanks

 

[VICKY_SEEKINGINR]

If any one in the trade nice profit in one day

Thanks

 

[AMITBE]

Hey Amit.. Good Morning..How is market now?
nice recovery in Indiabulls after touching 165? Thanks

Morning Vicky!
The market is going to be very selective, and I'm not suggesting any entry without utmost caution.
On Indiabulls, it seems the bad media may still not be over yet. Of course the company is going to do everything possible to protect the interest of the investors, but SEBI and the media may continue a public tirade. SEBI has to a find fall-guy for all its inefficiency of the last two months when the operators were running wild.
Don't take position here yet...it would be gambling.
Those holding from higher levels, I am optimistic still. This is a strong counter and a leader in it's space. All the noise will die down soon and then fundamentals will prevail.
Regards.

 

[VICKY_SEEKINGINR]

Thanks Amit

and more question about indiabulls account
now all the shares are trasnferd in dp account ?

and in portfolio we see 0 value of all shares?

wat its? i talks with their executive and he said its a new regulation from sebi and
now all the shares will be transferd into DP account?

Thanks

 

[AMITBE]

Thanks Amit
and more question about indiabulls account
now all the shares are trasnferd in dp account ?
and in portfolio we see 0 value of all shares?
wat its? i talks with their executive and he said its a new regulation from sebi and now all the shares will be transferd into DP account? Thanks

Hi Vicky...a brokerage company would normally keep your portfolio in the margin account as most people take exposure against their holdings...like a credid.
At this point Indiabulls would have moved all the portfolios to DP which is more like a bank account in a manner of speaking, to let SEBI know there is no foul play. At some point the holdings would be shifted back to the margin accounts if exposure is taken.
Thanks.

 

[ssnkumar]

Hi Amit,

Any BUY suggestion in the current market situation?

Regards,
Narendra