Some Good Steals...

[chopra]

Hi Ashish, great to see you looking into charts. Do give me till later this evening to give feedback?
Thanks!

Dear Amit,

Did you able to look into the chart?
Just like to know that I am moving on the right track or not.
No hurry, take a look at it at your convenience.

Regards,
Ashish

 

[mail2joshi]

Hi Joshi...been a while and not seen you.
Both Deepak and Allahabad Bank came out with below expectation results.
84-85 is what Deepak needs to rise above as a first step to recovery. It's pretty decent buy at current levels, 82, and being a strong company will certainly do well. You may need to wait it out but will get your price over the next little while, market being good. The problem technically in the short term is with the possibility of a H&S break at 82 where 75 levels will hold the key. If 84 is taken and sustained, the danger should pass.
Allahabad Bank is more difficult. It's been rangebound and sideways mainly for several months and tends to be volatile and sensitive at higher levels of the range. There's much supply along the way to 91 which itself has been a difficult mark. Climbing above 84-86 is vital for recovery at this point with 75 being the point of breakdown.
As your stops were not triggered, hang in and wait I suppose.
Regards.

Hi Amit,
Amazing memory you have, Yes I was out of trading for some time.
Thanks a lot for your valuable and kind reply (always).

Regards
sjoshi

 

[lawrieking]

Hi Lawrie, your time frame is good and all three should do well.
For now the big jump in Bharti is perhaps over. It was great at 220 a few monts ago, and going forward may not show this strong a move. Take it at some correction to this rally. 325-330 would be a great entry as there is good support here. Below this 310 is good too. I'm not sure how and when it could get there but for entry this is great. Or just take it any any decline at some point.
ICICI you may want to wait and watch for now. From now on as it makes it to higher levels, 512-525-535, it would be making the the right shoulder of a possible H&S, a bearish pattern. Either wait for a break above 545, or a break below 480 and support at 460.
Wipro is fine at any decline. Has good support at 360-370 and could be taken on the up close to here, or at 380 if this seems strong too. A dream entry would be around 350.
Regards.

Amit.... GR8 insite...have stuck this on the stickboard and shall make a careful move. Thanks your immediate responce.cheers..

 

[AMITBE]

Amit help me on ITC and Reliance , I am looking to buy and hold for 2 months. What would be a good price to buy these stocks.

Hi Adil, you are looking at two of the best and I'm glad you are exploring a good entry on these. A good entry makes all the difference no matter how strong the counter and what leadership it enjoys.
Both ITC and Reliance were terrific buys just recently at 114 and 740, but no blame. Avoiding any new positions is the right thing to do in the markets currently, and I'd still advise the same as we are not standing on solid ground yet. Let any counter run away if it does in the mean while. The risk is just not worth it, and discipline is the quality one must inculcate first as we set out into the world of the markets. Steady and well studied trades will add up into big returns in the long run.
Still, I'm giving some possible entries for both ITC and Reliance, and be aware of the bigger picture if and when they get there.
ITC has supports at 117, 121 and 125. 115 was recently under severe pressure but held. On clearing 130 there may come a good spurt subject to the market, and at 135 it would be wading into a some difficult levels. Watch how it behaves in the coming sessions along with the market. Should it run against the market for a bit, it would be in the hands of momentum traders who will drop it quickly beyond a point. Don't chase it then. Should it dip with the market, look for an entry at any stable support mentioned above, as strong hands would be getting into it then. Do it keeping tight stops.
For Reliance good support lines are at 740, 750 and 765. It may face resistance nearabouts now and at 795-810 area. At a price weakness dipping to any of the support zones an entry could be taken depending on the prevailing market then.
Do get back for any clarification.
Regards.

 

[mail2joshi]

Hi Amit,
Once more I am in need of your valuable suggestion.

HLL , CMP - 172
TataTeleservice (Maharastra), TTML , CMP 28

Please advise me when should enter into HLL and TTML.

Regards
sjoshi

 

[AMITBE]

Hi Amit,
Once more I am in need of your valuable suggestion.

HLL , CMP - 172
TataTeleservice (Maharastra), TTML , CMP 28

Please advise me when should enter into HLL and TTML.
Regards
sjoshi

Hi Joshi...for me both are off.
Hind Lever is usually volatile and gives up gains quickly in any slide. As it climbs from current levels it begins to draw negative bias in the media as being over stretched, which may be true. Then there is the comparison with ITC, and even Dabur which are more in favour in this sector. 172-175 has troubled in the past, and for now certainly a high entry. 162-164 are supports and a better entry point at evidence of support. It's ok for mid to long term, and the next quarter results are being awaited by the bigger players as proof of a turnaround from the past few quarters. It's expected to do well, but in the mid term at least, meaning two or three quarters in this case.
TTML for some reason doesn't do very much. I've not looked in the fundamental picture but it's usually the earnings of recent quarters that is behind such price action. I'm sure there are many better counters in this price, and certainly in the telecom equipment manufacturing.
This is my opinion.
Bye for now.

 

[AMITBE]

Hi Amit,

Can you pls. comment on the following scrips:

UCO BANK CMP 27.30
SUNITEE CHEMICALS CMP 1.70
GOLDSTONE TELE CMP 13.80
GVFILM CMP 0.96
RADAN MEDIA CMP 7.45
UTTAM STEEL CMP 39.40
ARVIND REMEDIES CMP 2.35
RANA SUGAR CMP 27.25
GR CABLES CMP 11.70
GINI FILAMENT CMP 34.20
WELSPUN SYN CMP 10.46
AJANTA SOYA CMP 7.69
SYSCHEM INDIA CMP 3.43
PIONEER DISTILLERIES CMP 17.10
VISHAL EXPORTS CMP 6.65

Thanks
Tarik

Hi Tarik..your list is long so give me time till over the weekend. It would help if you gave entry levels if in, or say if you want in.
Thanks.

 

[rinv]

icicidirect query

Can somebody help me out with this :

If we short nifty at 2490 and also place a stop loss order ( which can be done by doing a square off ) for 500.

Now, I would simaltaneasly want to place one more buy order at 2480 so that if nifty has reached 2480, i want to make the profit. With this, I do not want to continuosly monitor nifty till it reaches where I could cover for the profit.

Currently, I feel you can only place one square off order ...

Any thoughts ??

 

[roneeth]

Hello Amit!

Exited REI Agro at 204,Thanks for your guidance regarding stoploss.I am happy as i exited in time.
Finolex is looking weak,can i keep 75 as stoploss in this counter.

Regards

Roneeth

 

[AMITBE]

Re: icicidirect query

Can somebody help me out with this :

If we short nifty at 2490 and also place a stop loss order ( which can be done by doing a square off ) for 500.

Now, I would simaltaneasly want to place one more buy order at 2480 so that if nifty has reached 2480, i want to make the profit. With this, I do not want to continuosly monitor nifty till it reaches where I could cover for the profit.

Currently, I feel you can only place one square off order ...

Any thoughts ??

Hi rinv...no idea how icicidirect works. You may want to pose this in a seperate thread for better visibility. I'm sure there are many who use it.
Thanks.