Some Good Steals...

VICKY_SEEKINGINR · Nov 14, 2005

Thanks Amit.

kkz59 · Nov 14, 2005

Hi Amitbe, Saint and other very very seniors

Nice to be back. Visiting the site after 7 weeks.

Market has been through very trying times.

Views on Kitex Garments - Locked at the upper circuit for the last few days. Totally in a new unchartered territory. Volumes are reasonable. Am holding on for nearly a year.

Fundamentally good but illiquid scrips (only for the very patient investor):

Vadilal Enterprises
Sri Lakshmi Saraswathi Textiles

Sorry for the belated wishes to everyone for a Happy Diwali and a Prosperous New Year

Kamalesh

mail2joshi · Nov 14, 2005

AMITBE said:

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,
Thanks a lot for your valuable suggestions and advise.
Today DeepakFert moved very well.

Regards
sjoshi

Sabyasachi · Nov 14, 2005

Hi Amit,

Videocon Intl has closed above 85 today. Do you see it appreciating from the current levels. Will you advise an entry now.

Thanks,
Sabyasachi

chopra · Nov 14, 2005

AMITBE said:

Hi Ashish...I've been tracking Gateway since it was 220 and had called it along with Unichem Labs and Bharat Forge a little before the market had tanked.
At this juncture Gateway is into a primary uptrend, as I see it, following good consoliation since August. It's looking very strong indeed and a certain hold for now, though I would hesitate taking fresh positions at these levels as technically it's way overbought. It's difficult to say when it'll correct and where it's heading. It's clearly a crowd favourite and can go higher...and probably will, tough some correction should come sometime soon.
It's not going to be easy setting a technical stop loss either, as any dip is going to bring in more buyers...perhaps till 255 holds.
Just hold for now, though you've come in quite high. Should it dip to 255 or even 267, it's most likely to bounce back again. I've position in this and tracking it too.
Good luck.
PS your chart reading is pending...will come to it soon...sorry for the delay.

Thanks Amit for your valuable advice as always.
Today gateway touched 301 and closed at 294. I am still holding as you said.
And it is still trading in high volumes.
Regards,
Ashish

gracec · Nov 15, 2005

AMITBE said:

Hi gracec, Vardhman's charts suggest a struggle at every peak. The recent sharp fall may not be complete yet, as this may well be a corrective rally. This would especially be true if the fundamentals are not strong. One could review it at a close above 14.
BLB may be with a strict s/l below 9.
Panasonic if only it can sustain above 18 for a few sessions.
Trigen, if can break above and sustain 21-22...it'll negate a possible H&S there.
Melstar may be above 24...another H&S looming here.
Over all, my advise is have a close look at the fundamentals in these penny counters. If they are weak they'll hurt. There's nothing encouraging in the charts at this point in any of them.
All the best.

Many thanks Amit, for your advice and your time.
regards
Geeta

varun_chawla · Nov 15, 2005

Hello Amitbe

Really appreciate you & saint for ur suggestions,lessons & tips on stocks. I just got registered with traderji few days back. Its really nice going through the topics. Its really very helpful specially ur deep research.
I have some queries on Ranbaxy. i entered at rs.360 whats your call for Ranbaxy? Also please suggest me some short term stocks & some big F&O tips! Cheerz!

Thanks
Varun

AMITBE · Nov 16, 2005

varun_chawla said:

Hi Varun...Ranbaxy seems to have caught some momentum for now. Difficult to say if the recent down trend is complete or this is a corrective rally. For the downtrend to complete, it must close and sustain above 400-410. If so, it should make progress then. Keep a watch for now and maintain your stop.
I don't play in the F&O but check with joy_mitali.
Regards.

Saint · Nov 16, 2005

kkz59 said:

Hi Kamalesh,

Welcome back.......we missed your fundamental take on things.Hope you had a good holiday last few weeks.

Kitex Garments:Nothing to say but that it's a HOLD.Stay with it till a change in trend,and so far it's been conquering new unchartered territory consistently.Great trade,Kamalesh.

And wishing you a very Happy Diwali and a prosperous new year,too!!

All the best!
Saint

AMITBE · Nov 16, 2005

Sabyasachi said:

Hi Sabyasachi...Videocon is holding above 185 and acuumulating on ok volume. The hold back is the weely chart which is not sending a good signal.
So...still a hands off for me till 92 is taken and sutained. This will go a long way once bullish. The fundamental story is really good.
Regards.

Some Good Steals...

VICKY_SEEKINGINR

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kkz59

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mail2joshi

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Sabyasachi

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chopra

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gracec

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varun_chawla

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AMITBE

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Saint

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AMITBE

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