Some Good Steals...

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AMITBE

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Sorry Roneeth, was tied up with other things and running late.
Will get back to your query later in the morning.
 
A

AMITBE

Well-Known Member
#2,304
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roneeth said:
Hello Amit,

Would like to have your advice on ,
Varun Shipping at 74 cmp 63 support at 60
India Cemets at 100 ,i can see an support at 88.5....then deep 77.5??
Ador Fontech 107,Is it the Cup and handle forming in the weekly as well as daily?

had taken for mid to long term,if time permits could you please post your views.

Thanks and Regards

Roneeth
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Hi Roneeth...sending you seasons greetings too.
As for the query, Varun Shipping has support at 58 to 62. At this point the chart isn't looking too good and there's much work ahead. The big gap-up opening didn't help today with feeble buying support. A close above 69 is important for a rally where 78 would be the likely target. Unless any factor outside of charting, like news takes place in the next couple of days, the earliest you could expect some telling movement is first week of January, possibly late in the week.

India Cements has under performed badly and the reason is the market is awaiting the next quarter results to see which way the company is heading. It had been a loss making company and the last few months have seen a turn around and restructuring. The date is for mid January and you should know soon enough what's waiting. Should the results be liked, it should make up for lost time. It's one of the larger players in the South. I'm bullish on it.
On the charts there is a series of difficult levels to cross between 99 and 111. It's worth the wait as you've held for long. You may just be rewarded well. There was an interesting move on it today along with a jump in volume.

On Ador Fontech, I'd like to have seen a longer time frame for the C&H formation though it's there now but rather distorted. The handle part has fallen deeper to qualify itself. A close above 106 would bring it back in reckoning. It'll likely tax you longer as there's nothing in the chart suggesting a near term rally. Breaking above 109 would trigger it. Again watch for late first week Jan.
Do update when required.
Bye for now.
 
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mail2joshi

Member
#2,308
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nkpanjiyar said:
joshi, plz make your exit asap from this counter.

cheers,
nkpanjiyar
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Thanks a lot nkpanjiyar,
Actually I got involved into this scrip by mistake and I have set my sl to 98, which in fact triggered but I just wanted to see the moments tomorrow.
Anyway I am also in mood to get out of this asap, wiith minimum loss.

Thanks once again
sjoshi
 
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AMITBE

Well-Known Member
#2,310
#2,310
mail2joshi said:
Hi Amit,
Can you please advise me on RajshreeSugar, I made entry today @102 and now its sinking lower then 97.


Regards
sjoshi
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Hi Joshi...long time no see...been well I hope.
Rajshree Sugars it seems you entered in error?
It's been running like most other sugar counters and would come in to correct surely.
If you wish to keep and see, hold with a stop at 95 or 93. It didn't quite sink today but consolidated with a drop in volume.
The charts aren't indicating an emergrncy exit, but it's certainly overbought. The concern is your high entry, so the stop should be in place.
Good luck.
 
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