Some Good Steals...

[Karuna]

Hi Karuna...not looking too good like the rest of most everything else.
Further, on the charts there appears to be a breakdown at a H&S. With cmp being 862 off, the immediate support is at 855 area, then at 842, 838 and 825. Do keep a track of these levels...
Wish you all the good luck.

Thanks Amit, for the reply. This loss will be the final nail in my coffin

Now left with no money for trading/speculating. Only investment with proper ta and guidance from all you great guys.

Thanks
Karuna

 

[AMITBE]

Hello Amit!

Hope you are doing fine!

Had entered Indian Acrylics at 15 BSE Code 514165 ...could you please advise
Can one enter petronet at current levels ...Petronet Q2 Profit at Rs. 40 Cr. Vs loss of 16.06 Cr Q1
Revenue up 88.2 % at Rs.945 Cr. Vs Rs.502 Cr last Q1.waiting for your comments.

Regards

Roneeth

Hi Roneeth...don't know where IndAcr is now...but don't hold below 10.50. You should have been out already.
I'll look into Petronet later tonight, but there is no call for buying at all.
Wonder what you did with Bata.
In my list this one has been amazing the way it's holding against the market.
Regards.

 

[AMITBE]

Thanks Amit, for the reply. This loss will be the final nail in my coffin

Now left with no money for trading/speculating. Only investment with proper ta and guidance from all you great guys.

Thanks
Karuna

But hang in there, Karuna..don't lose heart. This is a paid lesson as saint has said, and we have all paid out bills...all of us. The good times will be back.
Look at the way SBI is bouncing back for now. If it can close above 870, it would be an interesting move to watch.
Take care.

 

[nkpanjiyar]

Thanks Amit, for the reply. This loss will be the final nail in my coffin

Now left with no money for trading/speculating. Only investment with proper ta and guidance from all you great guys.

Thanks
Karuna

Don't lose heart Karuna. As Saint and Amit rightly said each one of us has paid this price for lessons to learn. Good time will again come. Time is the greatest leveller my friend. Good luck.

cheers,
nkpanjiyar

 

[mail2joshi]

Hi Amit,
I was looking for SAIL somewhere around 62-63 and today I got the chance @63.
Now I am owning 200 of SAIL, but looking at the market correction and share market is dampening, did I make some mistake entering at this level of market.

Please advise me.

Regards
sjoshi

Hi Amit,
What about SAIL, I am in firm believe that within 2-3 month it will bounce back from where it fell, but at this moment should I exit with booking loss ?
I know fundamentally its good but red color on my portfolio is really making me a bit worried.

Regards
sjoshi

 

[koolprakash]

Hi Amit,

What do you have to say about the T-group stock "NIRLON"? (I had asked abt this some time back). It looks like it is breaking all support levels and is heading towards its lows

Request you to mention about the technicals of this stock going forward?
Probably the events like the Mill land case has taken the toll..

Thanks,
Prakash

 

[dheerajmehta]

hi amit sir,

you may remember that i had asked for your advise on:
Alok Textile
East Silk
Kopran
Mphasis

with the exception of Mpahasis all the stocks took a major beating today...
east silk is down to 164 n even alok is at 64 below its resistance of 68
basically all of them are in the red!!! should i sell? is the fall still likely to continue or is it nearing its end?

regards,

dheeraj m

 

[darsh_goswami]

I m planning to Sell SBI n Ril futures ,.. Market seems weak may be we can see it Weak on weekly charts too ,... Comments plz experts ,... ( I know this is all about equities, but i asked this futures questions coz of i m holding both of these stocks in Qty. in my portfolio since past very long, just looking for another arbitradge oppt. )

 

[AMITBE]

hi amit sir,

you may remember that i had asked for your advise on:
Alok Textile
East Silk
Kopran
Mphasis

with the exception of Mpahasis all the stocks took a major beating today...
east silk is down to 164 n even alok is at 64 below its resistance of 68
basically all of them are in the red!!! should i sell? is the fall still likely to continue or is it nearing its end?

regards,

dheeraj m

Hi Deeraj...please do drop the 'sir'...Amit is just fine.
Yes, I do remember your query, and for ready viewing my reply is here:
http://www.traderji.com/24153-post1912.html
I had pointed out the levels where you should be careful and cautious on both Alok and East Silk. Cautious and careful would ordinarily mean, if there is weakness at the mentioned levels, consider exiting. These are always suggestions, and the final call to minimise losses and exiting would rest upon the position holder. This is something I would never dictate. The levels given on both were breached, and I am sorry you are holding them still. Very clearly this market demands safety first, and all positions should have long been liquidated.
Kopran was already way past the stop loss mark from your entry, when you queried it. The suggestion was to off load this at any rise, or looking at the sharp loss you are in on this, I had suggested a wait for close to its results for a possible upside to exit.
Mphasis is still appearing strong. It even rallied to almost 163 today to close at 155 off, better by Rs5 compared to yesterday. If you like, cut out from here at any upside.
Which way the market is going, it's impossible to say. It can slip deeper, or can turn around and go up...cannot tell which.
For this reason, quite frankly I am unable to say what you should do...whether to cut further losses and exit at once now that you are deep in the red, or wait for some kind of a rally to seek higher levels to exit. You'll have to watch the market and act upon it for now. You can also update me during the session tomorrow, and we can take it from there.
All the best to you.

 

[AMITBE]

Hi Amit,

What do you have to say about the T-group stock "NIRLON"? (I had asked abt this some time back). It looks like it is breaking all support levels and is heading towards its lows

Request you to mention about the technicals of this stock going forward?
Probably the events like the Mill land case has taken the toll..

Thanks,
Prakash

Hi Prakash, I'm sorry but there is no hope in sight technically on this, just as I written the first time. It's heading straight down to 13.50 next where it may or may not stop...and likely not.
I'm feeling sad for a lot of people here holding on to sinking positions way past where they should have been abandoned. Please drop this at any cost and go cash if the market sinks further tomorrow, though this one has been dropping relentlessly since before this correction began.
All the best.