Some Good Steals...

[ssnkumar]

Hi Amit,

(I have posted this in Saint's page also. I don't know if he is there today. That's why I am posting it here also, so that I can get your views)

I am planning to invest in Auto stocks.
So, what is your view on Hindustan Motors, HeroHonda Motors and Bajaj Auto?
And how is M&M compared to all these?

Please do suggest, which is the best in the current market (with atleast 6 months to 1 year as investment horizon)?

Regards,
Narendra

 

[ssnkumar]

Hi Amit,

I also want to know your views on Mercator Lines.
This is suggested as "Value Pick" for this fortnight in Outlook Money.

So, do you also think that it is good to invest in this?

Thanks,
Narendra

 

[AMITBE]

Hi Narendra, if you are looking to invest then I'd suggest wait it out till past the frist week of January to see which way things are heading.
The market may get tossed around strongly in both directions early January, so let us just wait it out. No point chasing anything in a big move to the up and getting trapped high. This is what I would do.
We can discuss your picks a little later.

In the very short term Nagarjuna Const. is looking good for a trade. A couple of weeks ago I'd called for a buy above 253 but it didn't hold it there. It's broken out above 253 today, and if seems to be closing above 263 tonight, it could test 268-273-278 and perhaps 283 in the near term.
Strict s/l if taken around or above 263 is 252.
Please be careful and do adhere to the stop if anyone considers this, though it's not a high risk kind of counter.
Regards.

 

[harmads]

Hi
There was no clear buy on the charts till last night but today it's looking better. A break above 396 will give the confirmation.
S/L 367 or 356.
The competetion is going to be tough going forward, but it's strong still.
Regards.

Thanks Amit for a prompt reply. I appreciate it. I am very new to this trading lingo.. I would be happy if you tell me to go ahead and buy. I buy for long-term and not for intraday..
I would really appreciate your prompt reply as I am holding transaction.

Thanks

 

[ssnkumar]

Hi Narendra, if you are looking to invest then I'd suggest wait it out till past the frist week of January to see which way things are heading.
The market may get tossed around strongly in both directions early January, so let us just wait it out. No point chasing anything in a big move to the up and getting trapped high. This is what I would do.
We can discuss your picks a little later.

In the very short term Nagarjuna Const. is looking good for a trade. A couple of weeks ago I'd called for a buy above 253 but it didn't hold it there. It's broken out above 253 today, and if seems to be closing above 263 tonight, it could test 268-273-278 and perhaps 283 in the near term.
Strict s/l if taken around or above 263 is 252.
Please be careful and do adhere to the stop if anyone considers this, though it's not a high risk kind of counter.
Regards.

Thanks Amit.
I will wait as you have suggested.
Please do let me know when I can buy and which one?

Thanks,
Narendra

 

[AMITBE]

Thanks Amit for a prompt reply. I appreciate it. I am very new to this trading lingo.. I would be happy if you tell me to go ahead and buy. I buy for long-term and not for intraday..
I would really appreciate your prompt reply as I am holding transaction.

Thanks

Hi...on the face of it there is no confirmation on the charts and I gave the levels in the previous reply.
As you are an investor, check my previous post to Narendra.
If you still wish to go on, just go with the stops firmly.
It's not a bad counter at all, but the company has competition from other players too. Basically you'll do fine, the only concern being the market may get quite choppy early January.
Regards.

 

[Saint]

Hi Amit,

WISHING YOU AND YOUR FAMILY A VERY HAPPY AND PROSPEROUS NEW YEAR!!

Saint

 

[AMITBE]

In the very short term Nagarjuna Const. is looking good for a trade. A couple of weeks ago I'd called for a buy above 253 but it didn't hold it there. It's broken out above 253 today, and if seems to be closing above 263 tonight, it could test 268-273-278 and perhaps 283 in the near term.
Strict s/l if taken around or above 263 is 252.
Please be careful and do adhere to the stop if anyone considers this, though it's not a high risk kind of counter.
Regards.

Money has churned in the last little while from midcaps to index stocks and back.
Even if Nagarjuna Const. closes above 254 it's still a buy in the short term with strict s/l at 244.

 

[roneeth]

Hello Amit,

In this New Year wishing you new opportunities,new Triumphs....
all the Joy and happiness in the world !

Regards

Roneeth

 

[AMITBE]

Hello Amit,

In this New Year wishing you new opportunities,new Triumphs....
all the Joy and happiness in the world !

Regards

Roneeth

Hi Roneeth, thank you my friend.
I wish you all success and fulfilment.
All the very best, Roneeth.