Some Good Steals...

[AMITBE]

The market is under severe pressure but I'm holding all my trades without triggering stops.
There is much confusion in the absence of accurate readings for the Nifty, it being my guiding light.
Also the pressure on the international markets being mirrored here is a temporary blip...most likely.
Possibly the Reliance hangover persists too.
Else there was no call for this kind of pressure.

 

[AMITBE]

...They are good counters yes, and be careful with Unichem Labs as it's high already. It needs to clear 316 and 322 to go higher, and if 331 is taken out, 341-348 would be where it'll head. At current levels below 300 is s/l.

Unichem at 225, first target met and taking a little out now,

 

[AMITBE]

Dear Amitda,

Any thoughts on Core Projects, Novopan, Ecoplast ?
Thanks,
Ramesh

Hi Ramesh, don't know where you entered any of these and it helps to know this for a better feedback. You could get some idea from the folowing.
Novopan is holding just above a strong support at 69-70 below which the next support is at 65 below which could go deeper. It needs to trade above 74 to build momentum to go further.
Ecoplast after the sharp fall from 40 plus levels seems stable at 24-26. 22-25 is a strong support area and would look better above 30 plus, so has work to do still.
Core Projects stable, sideways and noncommital since October last year. At 215 last night, supports are at 202-205, and below this s/l. A strong move to 225-230 with volume should set up a breakout to 250 or so...or more.
Check for any doubts if you like and all the best.

 

[srisara]

Unichem at 225, first target met and taking a little out now,

Amit,

how do you set your targets. like 1st, 2nd etc etc. your writing would definitely help all of us in formulating better strategies.

Satya

 

[AMITBE]

Bharat Forge, amongst the few Indian multinationals has been a wealth creator over a period of time.
After coming out with strong numbers the other day, is poised for the next leg of the climb at 383-384.
Several major fund managers have put a strong buy on this these last couple of days.
It's been consolidating strong here and the s/l at 376 is hardly any downside. In fact there is no real downside for such a counter. 376 is just for the record.
In a selective buying scenario in the market from here on, a few months down the line will see 500 for sure.
Am holding from way lower and still holding.

 

[roneeth]

hello Amit,

What is your take on India Cements? I can see good buying at 109

Regards

Roneeth

 

[AMITBE]

hello Amit,

What is your take on India Cements? I can see good buying at 109

Regards

Roneeth

Hi Roneeth..thought you may have taken some off at 122 plus?
I think there are short positions in f/o sgement and is under pressure. If still in, hold for the results soon. The volume is strong and can make up from here.
The concern is short positions, but if strong buying emerges, covering will help raise it.
It's already below s/l at 112.
Good luck.

 

[dinkerj]

Hi Amit,
here are a list of stocks I entered in recent past. Though I hate to bother you too much, but market climbed from 6000 to 9500 (since i started trading), my net portfolio is showing loss. Reason is, I do analysis in such a way that only i understand what I am doing (and ofcourse market doesnt understand that and so doesnt follow my prediction).I thank you and saint as I really made money on your reco (to compensate the loss I incurred on my self analysis )
In last few days I entered in few stocks:
MTNL - 140
Infy - 2855
Bongai refinery- 73
SAIL- 50
Ashok Leyland- 30
VSNL-370
Bombay Dye- 360
GAIL- 277
Visual Soft (your reco) - 240 (below SL described by u 232, but am holding as u too holding it )
Bharti- 333 again your reco
HIMSEI (ICICI code) - 142 -- Saint's reco
Escorts - 82 (perhaps my mistake. I am obsessed. Saint warned to touch this stock, but I couldnt resist)

Also, I am in heavy loss in:
Shyam Tele -- 123
Guj NRE -- avg 130 (now 94!!! Thinking of selling it)
IDBI -- 106
Bank Of India- 135 (crossed SL. Sold 1/3rd at 126. Now 123. )

Your view on these stocks pls.

 

[Babysteps]

The market is under severe pressure but I'm holding all my trades without triggering stops.
There is much confusion in the absence of accurate readings for the Nifty, it being my guiding light.
Also the pressure on the international markets being mirrored here is a temporary blip...most likely.
Possibly the Reliance hangover persists too.
Else there was no call for this kind of pressure.

Amit,

I seem to have burnt my fingers in Sree Renuka Sugar. They posted Rs. 180 crore profits against an expected figure of Rs. 30 crore. I thought that would buoy the market and bought a handful at 740 and then again at 730. For some reason, the market seems not to like the scrip and it has now slid to 703. I wonder what I should do? If I take delivery, it would deplete my working capital by a big margin and if I bail out, I would lose a good bit of money! I guess you live and you learn.

Your advise would be appreciated.

 

[supratik]

The market is under severe pressure but I'm holding all my trades without triggering stops.
There is much confusion in the absence of accurate readings for the Nifty, it being my guiding light.
Also the pressure on the international markets being mirrored here is a temporary blip...most likely.
Possibly the Reliance hangover persists too.
Else there was no call for this kind of pressure.

Exactly Amit, though most of us do keep a SL and exit, which a fair idea, but sometime like this where I believe the Indian markets outperforming the others, there is no need to keep a SL for a counter you have entered after analysis and seen its past performance sheets.
I would like to add that the basic idea to enter and accumulate a counter would be on declines which we are having now. Also this scenario of panic selling must be utilized in a fruitful way.
There are rock steady counters like Areva which have lost 10% in a couple of sessions, lookinig at a the charts, this counter must be entered at lower levels.

Your views on this one please.

Thanks and Regards
Supratik