madhura said:
Hi Amit,
Based on Q3 results I have analysed some of fundamentally strong and technically strong shares...please guide further..
i think u missed on this post ...so quoting again....
1.Hindustan oil corporation-Q3 profit up-new support level after setback is -140-150- CMP-158...is it proper time to buy at around 155 level?
2.ITC-Support-125- given breakout at around 140 level
3.Infotech Enterprises-profit up by 44%-beautiful graph with ascendng trend-
support 512-CMP-572...can be bought on dips
4.GHCL-CMP-135...support-114-pls tell when to buy
5.Sterlite Industries--Q3 profit 80% up--CMP 1327--ascending trend...support 900
Also one more company who posted the profit was Tata sponge Iron..but graph is not so good...the CMP is at support level only...can i buy?
Thanks
MAdhura
Hi Madhura...If Hind oil corporation is same as Hindustan Oil Exploration, yes it's a good find. Trading at 163 now, supports are at 153-158 area and s/l at 153. To the up, a close above 168-170 with big volume would be a sure indication for a move to 185 levels first. Above 185 is a target of 200. This is for the mid term.
ITC has not looked back sine 115 bottom and now at 155, supports are at 148-151. Next time round when the market corrects, look for these levels, and if 142-145 is tested and held, it would be a great entry with a s/l at 139. A mid to long term play for maxixmum returns.
Infotech Ent has run up for now and one should wait for a correction for entry. 550-558 is a good support area, and should it slip further further 542 would provide a great entry. To the up when 594 is taken, then 650 would be the first target.
GHCL is in some conegstion territory now for a climb to 145. PAst that it would pick up pace. Support and s/l is 120.
Sterlite has been climbing hard since 700 end Oct. At 1315 now it's too high to enter I feel. I would only get in at a sharp decline if that should happen around 1232-1256 area.
I'd leave Tata Sponge for now. It's low yes, and may turn out to be a speculative entry at cmp 124. Above 145 is what I would wait for, and even then cautiously.
You may find a lot of these levels given here at variance with your charting, but they are for real nevertheless.
Check back when you like and all the best.