Some Good Steals...

[ssnkumar]

Hi Amit,

Is it ok to buy ITC now?
I had bought it at 137 (I am still holding it)
Now it is at around 120.

So, please suggest (to reduce the losses).

Regards,
Narendra

 

[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.

Hello Amit!

Thanks for your prompt response as always...
Exited Indian Acrylics....
Still holding Bata India ..Amazing you still remember .Will keep an eye on Petronet Lng was wondering whether i could add on ?

Regards

Happy Weekend

Roneeth

 

[sujarouf]

Hi Suja...I'm not sure where Hotline Glass is today, but if it's keeping above 11-12 it's safe. Important support is at 10 below which it could slip. To the up, it has to close above your entry and then 15 with volume to regain the trend.
Facor Alloys may be giving a slight head up, and I wonder if it has gained this morning? Again a close above your entry wold make gains. There's not much historical data here, but below 8.50 lies danger.
Facor Steel looks pretty weak from last night's 8.98 close. If it tests 8.25 this too could slip further. A close above 10 would keep it safe.
Vishal Exp I'm afraid is not looking good either. This has been much discussed at Ravi's thread and I believe the fundamentals are strong here. It's hanging on to very little and below 6.30 would drop further. Above 7.60 it would return to safe grounds.
Difficult call, Suja. Facor Alloys appears the best on the data so far, though very weak. Do update the current prices today if possible.
Best wishes.

Hi Amit

Sorry could not post you earlier. thanks for your perfect analysis

Facor alloy closed today @ 7.83
Facor Steel closed today @ 7.67
Vishal Exports closed @ 7.04
Hotline Glass closed @ 11.27

Regards

Suja

 

[raju_shastry]

Astra Microwave
Aegis Logistics
Bharat Forge
Champagne Indage
GE shipping
Gammon
Gateway Distriparks
IVRCL
IndiaBulls
Nagarjuna Constructions
Opto Circuits
Hindustan Constructions

Amit,

Can u give comments/entry point on the above scrips whenever u r free.
I am looking at a time horizon of 1-2 years.

 

[Karuna]

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

Thanks Usha
Have u started your learning of technicals/options. We were supposed to do it together remember ??

Karuna

 

[atulgupta]

Hi AmitDa,
Yesterday was a good day for the market and I think from monday it will uptrend well as FIIs are filing for redemptions, the last day for which is October 24.
Looling at the present scenario, I am watching some scrip but I am really not sure when one should enter and with what target. I am lokking from long term prospective.

I am watching following stocks
-----------Bank-----------------
Dena Bank
Centurian Bank
Bank Of Rajasthan

----------FMCG----------
ITC
HLL

-----------Auto------------
Ashok Leyland

---------Cement---------
Guj Ambuja Cement

--------IT-------------------
Polaris
Rolta
Hexaware
Aptech

-------Chemicals and Fertiliser-------------
Deepak Fertiliser
Nagarjuna

----Others---------
Petronet LNG
NTPC

Also if you can please add stocks of your valuable choice into the above list , I would be grateful.

The reason I am looking into these stocks is their CMP which is low as compare to valuable stock like ICICI or Herohonda etc..

I know the above list is quite big but I would like to start safe.


Looking forward for the kind reply.

Many Thanks
Atul

 

[usha]

Thanks Usha
Have u started your learning of technicals/options. We were supposed to do it together remember ??

Karuna

Karuna,
How can I forget that? At present my mistakes with escorts and tata chemical futures are nailing my heart. Yesterday escorts took support @68levels and was back at 74 then I was confused again should I enter now and participate in the rally (or as I think, believe, hope) on monday so that I get back all the money lost and tata chem is a gone case I am not even following it. something like a blank period, I know you understand this and thats the reason I am sharing this with you.
Would love to take it as a challenge and turn things around but practical maters are hurting me. If I had taken call option instead of buying it in futures I think my downside might have been limited to the call amount. I could have learned it at that time., could have not entered the scrip, could have not blindly followed the tip on screen from broker, could have not waited so long when market was sinking, could have....could have not...something like to be or no to be...of hamlet..... Now I want to learn but I am not able to concentrate completely.
Anyway I will findout a way out.
I wish you a profitable tradeing.
Bye karuna,
keep writing,
usha

 

[kkrish68]

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.

Hey Amit,

Good to hear that you are using this time to organise yourself. What charting s/w do you use. I remember that in a previous post you had mentioned about the charts from the NSE site.

I am looking for an alternative to Mstock as it is very expensive to use here and i do not seem to use all the features.

Could you receommend something simple and effective?

Warm regards
Kishore

 

[AMITBE]

Hello Amit!

Thanks for your prompt response as always...
Exited Indian Acrylics....
Still holding Bata India ..Amazing you still remember .Will keep an eye on Petronet Lng was wondering whether i could add on ?

Regards

Happy Weekend

Roneeth

Hi Roneeth, one cannot be sure how the market is going to shape up, and I'd still be very cautious going long.
However Petronet should be a good buy in the mid to long term unless you are buying in volume for a trend trade.
For levels, should it slip from 56 off, 52-54 form a good support. Further below, 48 would be the critical support. Should it slip to these levels and bounces off, coming in on the up would be a decent entry. Under all conditions 48 would be stopped out.
Wait and see what happens and don't rush in. The outlook remains bearish for now despite the relief rally of Friday. Monday may give a clue to the direction in the short term.
About Bata, from the 10th on to now it has held out quite remarkably against the down market. In this period 135 has been a strong support. I am going by this sign alone, as in the charts there is no clear signal of a move to the up. If it does move on to close above 146-148, it should begin to look better. I'm tracking it.
Take care.

 

[AMITBE]

Hey Amit,

Good to hear that you are using this time to organise yourself. What charting s/w do you use. I remember that in a previous post you had mentioned about the charts from the NSE site.

I am looking for an alternative to Mstock as it is very expensive to use here and i do not seem to use all the features.

Could you receommend something simple and effective?

Warm regards
Kishore

Hi Kishore...yes finally got myself something to work the charts with, which took quite some doing to reorganise the data which I've maintained since long.
I'm using Amibroker and feel it's a very handy program, and even compared with Metastock which I have used, I find this much lighter and better organised. I can still use Metastock data and .csv files.
Give it a shot if you like, and it's not too expensive at all.
Cheers.