Some Good Steals...

[Saint]

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.

Hi Amit,

Great advice,my friend.............Prakash,before any trade is taken,be it day,swing or long term,a stop loss must be there.One has to plan out a strategy for every trade before effecting the trade.As the famous saying goes,"Plan your trade,and Trade your Plan."

If you are not sure how to put stops,or what to buy,or how to share size..........this correction in the market gives you great opportunity to educate yourself,and be ready for the next move up.

Please..........,the market or any stock can dump more than your accounts or pockets can manage............so careful,my friend.

Saint
ps:Amit,how r u keeping?Rather silent nowadays..........but great wisdom as always,my friend.Always great to read your posts.

 

[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.

Hi Amit,

Hang in there I will. And I will also see that I recover all of the losses made so far.

Thanks for your kind words.

Karuna

 

[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

Hi NK,

Thank you so much for your kind words of encouragement. Indeed now only waiting for the good times.

Karuna

 

[AMITBE]

ps:Amit,how r u keeping?Rather silent nowadays..........but great wisdom as always,my friend.Always great to read your posts.

Hi saint...thanks for the warm words.
Yeah...been feeling kind of quiet, just watching the market sink, and working on re-arranging my data for this charting software. It's been taking a lot of my time to look up the raw data I've been using so far, and answering queries. This is helping speed things up.
Ah...but for scanning for breakouts I'll still go hand made for now.
Thanks saint.

 

[AMITBE]

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. )

Hi Darsh...while I do use TA quite extensively, there are times like these, when if you threw a put at the entire derivative listing, you'd probably bring down almost all of them. No great shakes TA here. The best are collapsing.
You are looking at two of the best counters that are a dead steal at current prices together with great results expected, for those with deep pockets, FIIs, Funds or whoever.
Sure, they may look weak on the charts, SBI more than RIL, but do be cautious. All it will take for the index is to cross and sustain a couple of important levels, and there may come a sharp rally in the kind of counters you are eyeing with increased buying and with people running to cover short positions.
This is a very sensitive market with a lot of desperation on either side to win.
If you are adapt with TA, and swift moves of derivatives, only then go with your plan. You may not get a lot of time to consult others for supports or resistances once these counters are on the move.
I would personally sit back and enjoy my profits if I had taken these counters at way lower levels, and would add more at any dips.
This is my opinion alone, and no TA involved. In saying this, I feel I'm being true to my resposibility here.
Do get back if you wish to discuss this further.
Regards.

 

[AMITBE]

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

Hi Joshi...I agree with what you think. Fundamentally though, the steel sector is trailing the market, and the last quarterly results on SAIL did not make the market too happy. Hope these would be better.
On techs, it needs to climb above above 55 and 58 for a better positioning.
Not a tall order I would say, you being an investor.
A close below 48 from a consevative angle would be s/l. For the mid to long term this could be relaxed to 45.
Regards.

 

[rinv]

Hi Amit & others,

I possess 35 shares of D-link bought at 138. It had recently gone till 175 , however i was confidet of it touching 200 since it had not partipicated in the bull rally..however in this correction , it has fallen apart and is trading at around 127 or so ..

Can you throw some light on this ?

Regards

 

[AMITBE]

Hi Amit & others,

I possess 35 shares of D-link bought at 138. It had recently gone till 175 , however i was confidet of it touching 200 since it had not partipicated in the bull rally..however in this correction , it has fallen apart and is trading at around 127 or so ..
Can you throw some light on this ?
Regards

Hi rinv...yes, an irony with D-Link. After a prolonged corrective phase it rallied only to form a H&S pattern and broke down. Should the market improve, there does appear a faint possibility for a reflex rally, but again subject to the market. A close above your entry may see strength coming in.
To the down, 122 is good support but breaking this would be stop loss.
Wait and watch for now.
Regards.

 

[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...missed on Petronet yesterday.
52-53 is a good support area, and if it still holds well in this zone past this correction, an entry may be considered here. It's a slow moving counter, and fundamentally it seems by next year it would begin to show results for all the inputs that have gone in. Gas is certainly going to be a great sector looking ahead.
Look at it for the mid to long term.
Regards.

 

[usha]

Hi Amit,

Hang in there I will. And I will also see that I recover all of the losses made so far.

Thanks for your kind words.

Karuna[/QUOTE

Karuna,
my best wishes too

usha