Some Good Steals...

[kkrish68]

Kishore

Iam holding Matrix for quite time. From August this has been moving sides ways. It has very stiff resistance around 200. Earlier two attempts to cross this had failed. Presently quoted at 185. The journey to 200 has two obstacles. Immediate resistance are 190 and 196.

Technically

Price ROC less than zero
RSI moving down
MACD is still bearish

Matrix is a good fundamental story. On a long term perspective it is good buy. Foe short to medium term it is an "avoid". Amit would love to hear your views...

regards

Karthik

Thanks Karthik. The company has come out with some good forward looking press release but the market seems to be very negative towards M Labs.

I took a position at 182 and exited at 196 as the stcok was too volatile for me to handle. Suprisingly it has become quite now, almost acting grown-up overnight!!

I will get in when the price crosses 200 as there is a clear run after that.

BTW, what is Price ROC? Something similar to TRIX?

regards
kishore

 

[karthikmarar]

Thanks Karthik. The company has come out with some good forward looking press release but the market seems to be very negative towards M Labs.

BTW, what is Price ROC? Something similar to TRIX?

regards
kishore

Kishore

Price ROC is the rate of change of the price. I use it to study the intermediate price trend. rising ROC indicates rising trend and falling ROC indicates downtrend.....

I will copy the explanation of this indicator from my notes...

The Price Rate-of-Change ("ROC") indicator displays the difference between the current price and the price x-time periods ago. The difference can be displayed in either points or as a percentage. The Momentum indicator displays the same information, but expresses it as a ratio.

It is a well recognized phenomenon that security prices surge ahead and retract in a cyclical wave-like motion. This cyclical action is the result of the changing expectations as bulls and bears struggle to control prices.

The ROC displays the wave-like motion in an oscillator format by measuring the amount that prices have changed over a given time period. As prices increase, the ROC rises; as prices fall, the ROC falls. The greater the change in prices, the greater the change in the ROC.

The time period used to calculate the ROC may range from 1-day (which results in a volatile chart showing the daily price change) to 200-days (or longer). The most popular time periods are the 12- and 25-day ROC for short to intermediate-term trading. The 12-day ROC tends to be very cyclical, oscillating back and forth in a fairly regular cycle. Often, price changes can be anticipated by studying the previous cycles of the ROC and relating the previous cycles to the current market.

The 12-day ROC is an excellent short- to intermediate-term overbought/oversold indicator. The higher the ROC, the more overbought the security; the lower the ROC, the more likely a rally. However, as with all overbought/oversold indicators, it is prudent to wait for the market to begin to correct (i.e., turn up or down) before placing your trade. A market that appears overbought may remain overbought for some time. In fact, extremely overbought/oversold readings usually imply a continuation of the current trend.

regards

karthik

 

[karthikmarar]

Amit

If you get time please look up this one...

GSFC closed 12 points up at 157.9 past the previous resistance of 153 with good increase in volume. Sustaining above 160 will take this higher.

Thanks

regards

karhtik

 

[gurdeepkaur]

whats going on in ere????

 

[narmad]

Hi Guys

Is this a good time to enter into Indraprastha Gas for long term 6-12
months ?

Me holding on to Matrix too since @192


Thanks
Narayan

 

[AMITBE]

hi amitbe,
what are the levels of small cap index one should look for getting in the small cap stocks. how much downside can one see from now or is it the right time to invest in small cap.

Hi swapnil007, I don't believe there is any point in the smallcap index where one should enter or exit. The index is merely a masure of the collective change in price of the scrips gathered under the index.
If one is selective in this area there is no reason to fear past the curent bad press the small counters are getting.
On the tech front, in recent times answering a lot of queries on small and penny stocks, I have found these to be difficult to study with a lot of accuracy. It has been a lot of frenzy buying in a lot of rubbish counters in the last couple of months or so.
Just do research, go by strong fundaments and you could not go wong.
Regards.

 

[AMITBE]

Hi Amit ..
are u still following Gammon india!! has seen 440 levels than corrected a bit..and today was trading around 390 range... so should i enter at these levels or wait for some more correction? any target for gammon u have set?? pls help...
Thanks u and all seniors 4 great support.

Hi ncdx, Gammon has good supports between 380 and 390. Looking at yesterday's movement where it slipped at increased voulume, I would advise caution. Let's watch it for a bit...the volume may have gone up on buying at lower levels too. Will observe closer today and come back on this.
The immediate target is 450, all going well ahead.
Thanks.

 

[AMITBE]

Hello Amit
I am mentioning here my portfolio - please give your suggestions on it
Rolta @120
TCS @ 1030
Fin. Tech @ 1440
JP Hydro IPO @ 32
Bhushan Steel @ 206 (very small qty)
What are your suggestions on the above.
Will be very greatful for your advise. Alok

Hi Alok...nice to see you here after a while..
I track Rolta and my entry is around yours too. In the bashing the market received recently, this amongst a few was the one that fell the least and staged a recovery quickest. Is consolidating well, trading tight, and past 175 should rally towards 200. The danger level is 166, but since your entry is much lower, hold it for now.
Again your entry in TCS is great, and the result coming soon, hold it too. It's a frontline counter and should do well. On the deep end, supports are at 1400-1412-1430. 1390 would be time to exit, though most unlikely.
Fin.Tech is a certain hold, again looking at the coming result. Fidelty funds has a few days ago picked up a large position in this at current levels. A good indicator this.
JpHydro too is a hold for now. Let's watch this till the results. Power is vital to infrastructure, and I hold positive views on this counter.
Bhushan Steel...the outlook hasn't been too positive on this sector. It seems to be consolidating and as your entry is higher, look for an upside closer to 206 and watch. If need the money, exit and come in on a better counter. Some frontline fertiliser or sugar counter would be good on results past the good monsoons. Support at 165 zone and s/l too.
Regards.

 

[karthikmarar]

Amit

Jphydro...I see a slight bearish divergence in RSI and a pronounced one in TRIX...

regards

karthik

 

[alokdaga]

Hi Alok...nice to see you here after a while..
I track Rolta and my entry is around yours too. In the bashing the market received recently, this amongst a few was the one that fell the least and staged a recovery quickest. Is consolidating well, trading tight, and past 175 should rally towards 200. The danger level is 166, but since your entry is much lower, hold it for now.
Again your entry in TCS is great, and the result coming soon, hold it too. It's a frontline counter and should do well. On the deep end, supports are at 1400-1412-1430. 1390 would be time to exit, though most unlikely.
Fin.Tech is a certain hold, again looking at the coming result. Fidelty funds has a few days ago picked up a large position in this at current levels. A good indicator this.
JpHydro too is a hold for now. Let's watch this till the results. Power is vital to infrastructure, and I hold positive views on this counter.
Bhushan Steel...the outlook hasn't been too positive on this sector. It seems to be consolidating and as your entry is higher, look for an upside closer to 206 and watch. If need the money, exit and come in on a better counter. Some frontline fertiliser or sugar counter would be good on results past the good monsoons. Support at 165 zone and s/l too.
Regards.

Thanks a lot Amit for your view.

Regards

Alok