Some Good Steals...

[roneeth]

Hi Roneeth...sorry to hear that, though I had suggested 142 as the final stop.
At this point there are supports at 134-135, and a climb above 142 is crucial and should come inevitably. A lot of the counters in this range are doing badly for now, but buying should emerge at these levels as the market improves. They are way over-sold.
The mid to long term story in Bata is still good.
Do update again please.

Hello Amit!

Thanks for you response...
I am having spme problems with my p.c not been able to open the BSE site
for charts ,sorting the same.If time permits could you please look into Indian Acrylics at your convenience ...entered at 16....I am ready to hold it for mid term too....
Bata i am holding will hold for mid term...

Regards

Roneeth

 

[AMITBE]

Hi Amit,
According to some experts market trend will get one direction after Infy and TCS declare its Q2 result ,but I think market is still uncertain.

looking at the present scenario please comment on NTDV and NTPC

Regards
sjoshi

Hi Joshi, while NDTV is a good counter, I would back NTPC on both fundaments and techs at this point.
NTPC is going to play a most important role in the power sector and has plans to go towards hydro power as well. Should India ever get into nuclear power, this will be amongst the first choices. It's a great counter for a safe and steady investment. On the downside, it tends to be slow.
Were you looking to enter or already in?
Thanks.

 

[mail2joshi]

Hi Joshi, while NDTV is a good counter, I would back NTPC on both fundaments and techs at this point.
NTPC is going to play a most important role in the power sector and has plans to go towards hydro power as well. Should India ever get into nuclear power, this will be amongst the first choices. It's a great counter for a safe and steady investment. On the downside, it tends to be slow.
Were you looking to enter or already in?
Thanks.

Hi Amit,
I am planning to enter both the scrip now.
I am planning to buy NTDV@200 and NTPC@105, I mean market price itself.
Please let me know shd I enter right now... I am waitng

And one more trouble to you, with so many advise on banking sector to stay away, I cannt supress my desire to have Indusbank for short term with target 74.
Need your valuable suggestion once again.

Regards
sjoshi

 

[koolprakash]

Hi Amit,

I have 220 shares of NIRLON bought at 22.75? Can you please tell me the fundamentals of this and is it a good hold? The last time I tried to sell this, I sense that there was a circuit filter and my order did not succeed?

Thanks,
KP

 

[AMITBE]

Hi Amit,

I have 220 shares of NIRLON bought at 22.75? Can you please tell me the fundamentals of this and is it a good hold? The last time I tried to sell this, I sense that there was a circuit filter and my order did not succeed?

Thanks,
KP

Hi Prakash...seems you are in a fair deal of pain on this, my friend. The charts don't appear good. It's at 17.15 now, and below has support at 17, 16.70, 16.30 etc, but here it's way too deep from your entry. Also these supports would not hold if the circuit filters are hit. Not a lot of hope of a pullback anywhere close to your entry at this point.
Later today I will certainly look at the fundaments and post, and you can too at BSE.
Good luck.

 

[usha]

Hi Usha...you must have done well with ICICIBank?
With TataChem, at 194 it lies above some important supports at 188 to 193. However there are a few resistances at 197-203 on it's way to 205 which itself is a resistance mark. There is some faint indication of a possible revival and should gain strength past 197, it's 20 DMA. Do watch and update after today.
The call is more difficult with Escorts. It's been dropping steadily though the drop my be arrested at 87-88. If it can climb and close above 91-93, there may be good chances of attempting higher levels. Again, do track and update tonight. The news here, if it is pertinent, is the proposed sale of Escort Hospital which has run into difficulties?
All the best.

hi amit,
I am soo depressed now that I cannot even thank you the way I should have to. My broker sold my tata chemicals futures since I was in debit of around 20000/-(M to M) which I wanted to pay by cheque todays evening, causing me a loss of Rs.15000/- Regarding escorts at the moment it is showing support at 88,but still I am down Rs.30000/- I think I am not fit to trade and I donot think so I am intelligent enough to trade. (I should dump my university Rank certificates) Thanks you remember my ICICI query. In that trade also I took just 1/4th of profit in a hurry(or fear to loose even that) Now I am waiting sitting on huge losses. Exactly opposite of what experts guide us. That is the reason I am saying I am not (yet, perhaps) fit to trade. Thanks amit for your prompt reply, bye,
usha

 

[jaideep]

Come on Usha. Pull yourself together. There are no losers here. Do you think Amit, Saint....me too are winning all the time? Losing is part of winning. The sum is important. On the way you lose some, you win some. As you learn & get more confident & proficient in trading you will win more than you lose. That's the name of the game in trading. AND, you seem to have missed one of the cardinal rules of this game....CUT YOUR LOSSES & LET THE PROFITS RUN. You will learn by and by, so don't lose heart. Happy trading & cheer up.

Sorry Amit for the interjection but I hate to see another one (almost) biting the dust, especially one of your pupils. You will understand.

 

[alokdaga]

hi amit,
I am soo depressed now that I cannot even thank you the way I should have to. My broker sold my tata chemicals futures since I was in debit of around 20000/-(M to M) which I wanted to pay by cheque todays evening, causing me a loss of Rs.15000/- Regarding escorts at the moment it is showing support at 88,but still I am down Rs.30000/- I think I am not fit to trade and I donot think so I am intelligent enough to trade. (I should dump my university Rank certificates) Thanks you remember my ICICI query. In that trade also I took just 1/4th of profit in a hurry(or fear to loose even that) Now I am waiting sitting on huge losses. Exactly opposite of what experts guide us. That is the reason I am saying I am not (yet, perhaps) fit to trade. Thanks amit for your prompt reply, bye,
usha

Hi Usha

I feel sorry for your losses. I too have gone through these happenings in past. Honestly - fear and greed are two big Killers for newbies.

My personal suggestions - make a trading rule on paper - recite it daily like hanuman chalisa - and before taking any sell/buy/exit decision read those lines and then execute. I think this way you can take a lot of emotions out of your trading and specially when you have senior members like Amit, Saint and all to guide you, you will definitely succeed.

Regards

Alok

 

[AMITBE]

Hi Amit,
I am planning to enter both the scrip now.
I am planning to buy NTDV@200 and NTPC@105, I mean market price itself.
Please let me know shd I enter right now... I am waitng

And one more trouble to you, with so many advise on banking sector to stay away, I cannt supress my desire to have Indusbank for short term with target 74.
Need your valuable suggestion once again.

Regards
sjoshi

Hi Joshi...first of all, I don't believe one should enter any trade at this point, even if you feel the prices are attractive. The market can very easily test lower levels at any time. As witnessed today, the great Infy results have done nothing for the sentiment and you can see how choppy the going has been all morning. The index is climbing and dropping again and again. You may just find even these levels high should things turn bad further.
However to answer your query, I would not advise NDTV. It's just a little above some supports, and above there is congestion to clear.
NTPC may dip along with the market though the current trend is strong. May not have a lot of downside.
Indusind is too close to 65 below which the drop could be deeper. On a turn around it may test your target of 74, but where's the sense in taking a risk? In any case keep a tight s/l at 65 if you do enter.
Believe me, things are not looking good at this time.
Take care.

 

[AMITBE]

hi amit,
I am soo depressed now that I cannot even thank you the way I should have to. My broker sold my tata chemicals futures since I was in debit of around 20000/-(M to M) which I wanted to pay by cheque todays evening, causing me a loss of Rs.15000/- Regarding escorts at the moment it is showing support at 88,but still I am down Rs.30000/- I think I am not fit to trade and I donot think so I am intelligent enough to trade. (I should dump my university Rank certificates) Thanks you remember my ICICI query. In that trade also I took just 1/4th of profit in a hurry(or fear to loose even that) Now I am waiting sitting on huge losses. Exactly opposite of what experts guide us. That is the reason I am saying I am not (yet, perhaps) fit to trade. Thanks amit for your prompt reply, bye,
usha

Hi Usha...terribly pained to know of your losses, but as Jaideep and Alok have rightly pointed, this is about winning and losing and the success lies in trading to a plan which takes a lot of discipline and cool thinking.
Just take great care in selecting a trade and planning for it. Also, derivatives are never an easy play for the best of traders, and certainly not without a sound hold on TA.
We will all do our best to help in every which way, so don't lose heart.
I'll track Escorts and TataChem again later today and post.
Take good care.