Some Good Steals...

[AMITBE]

216 is strong resistance for Rolta.
If this is well taken out it should be heading for 221-226-231 in time to come, and possibly 237. 221 may prove a hurdle.
At the current 214 off, s/l is at 206 or 201 final.
This is subject to the market conditions. Utmost caution has to be taken for all positions.

Jan 10 was this call.
After hitting against 220-224 on a few occasions and falling back, is now trading at 233 after brushing 235.
Closing above 233 would set it higher.
Hold with stop at 221 if in.
Look for supports at 209-204-199 in a falling market for entry.

 

[AMITBE]

Super Spinning (SUPERSPIN) is a Coimbatore based company belonging to the extended family of Lakshmi Machine Works which commands the price of over 20000 per share.
Like Lakshmi Machine, Super Spinning is a strong growth stock with excellent fundamentals. It's also a defensive, low volatility and low liquidity counter.
I've seen low liquidity usually means the promotors hold the bulk of the stock for obvious reasons...Madras Cement, Indogulf Corp, Gujarat Flourochem are examples.
At 399 Super Spinning has been consolidating/accumulating well. It can be accumulated with stop at 390. A slip below 390, though the chances are slim, would give an even better entry at 378-383. This is a mid to long term idea. A couple of quarters would see a strong capital growth.

 

[nkpanjiyar]

From this call on Jan 18, Bharat Forge did slip to 374 from where it blasted it's way to 422 off now.
Hold with stop at 400 or deeper at 394 if anyone in.

Great call on Bharat Forge Amit. Missed it . Can i enter now?

cheers,
nkpanjiyar

 

[rakamath]

dear garun 1979, I checked the bse site. there is no stock split, but there is some Scheme of Arrangement between the Company and Bespoke Finvest Ltd and KEC Infrastructures Ltd (Operation Co.) and KEC Holdings Ltd (Invest Co.) and their respective shareholders.

can anyone throw some more light on this, because the announcements on bseindia are not very clear.

 

[vikassethi]

Interesting

 

[p_haolader]

Hi,

I had posted this in another thread but no replys. Would u peple be kind enough to give some comments

I am very new to the market and technical analysis. I had made a small investment in Aksh Optofibre @ 73.75, it is now quoting at 70.55 . When i bought this share i had a look at its fundamentals and its announcements at BSE and it looked good to me. But today i had a look at its chart on BSE and I kind of concluded :

1. It's forming a descending triangle.
2. The MACD has fallen below the the 0-base line which is not a good sign.

Now my questions
1. Have I read the chart correctly perticularly the trend lines.
2. Are my resonings/inferences correct
3. Should i hold on to aksh optifibre
4. Any updates on the fundamentals, are they still stong

Please do reply.
Thanks and regards

-Partha

 

[AMITBE]

Hi,

I had posted this in another thread but no replys. Would u peple be kind enough to give some comments

I am very new to the market and technical analysis. I had made a small investment in Aksh Optofibre @ 73.75, it is now quoting at 70.55 . When i bought this share i had a look at its fundamentals and its announcements at BSE and it looked good to me. But today i had a look at its chart on BSE and I kind of concluded :

1. It's forming a descending triangle.
2. The MACD has fallen below the the 0-base line which is not a good sign.

Now my questions
1. Have I read the chart correctly perticularly the trend lines.
2. Are my resonings/inferences correct
3. Should i hold on to aksh optifibre
4. Any updates on the fundamentals, are they still stong

Please do reply.
Thanks and regards

-Partha

Hi Partha...I've only just seen this query here and also at Saint's thread. He's obviously busy and will surely answer you in due course.
On the face if it, yes, there is a descending triangle on the daily chart where several lows are occurring at a consistant price level, with highs moving lower still.
So as you must be aware, a triangle pattern can be a continuation pattern or reversal pattern too. To see them as continuation patterns, one would have to locate an ongoing bearish trend first, which in the case of Aksh is not the case. In which case, as far as this single indication goes, the assumption is that the buyers and sellers are not quite certain where things are going and are moving in and out of trades a little too soon thereby causing the tighter formation.
As far as volume play in this pattern goes, it is assumed that volume would decrease as the price moves between the trendlines in an increasingly narrow range of high and lows. It's only when the breakout (in either direction) happens, there would be a sharp increase in volume. So far on the charts here the volume has generally been thin.
But there is another important factor to note: In an ascending triangle, it's commonly seen, that the volume diminishes noticably when the price swings to the up and increases when the price turns down again. This is not the case with the chart here with me. At a closer look it does appear that the volume pikes higher with an increase in price and drops with the price. So this is one positive sign that this may be a drifting kind of price action going on here.
Another noteworthy aspect of a descending triangle is the duration of it along the horizontal bottom line in relation to the apex. It is believed that the breakout should happen about two-thirds distance along the horizontal trend-line as compared to the height of the triangle.
In your chart you will see that the bottom line has extended quite beyond the relative height of the triangle without a breakout as yet. In such a scenario the pattern may well lose it's strength along the way as the price action just drifts along. Further, the chances of a false breakout would increase as the length of the bottom line increases, as now the chart is suggesting a period of consolidation, though with a hint of uncertainty.
So here, be alert to volume action and the associated price action.
One more point: As I use Bollinger Bands along with price and volume indicators, I as yet see no sign of the lower band being punctured. Yes, the price has played around closer to the lower band but nothing threatening yet.
The only concern is the price has moved below it's 50 day moving average since the last week of January.
All in all, I'd hold if keen on this counter till a decisive break happens with volume.
As to the MACD issue, I don't follow this indicator and have not found it to suit my style of trading....so no comments.

On the fundamentals, I have not looked into this as you have, but the assumption would be a good future for the company with the boom in broadband technology. This is provided the management is up to it.

I would hold with a stop below 69.
Hope this answers your query and do follow-up if you like.
Regards.

 

[p_haolader]

Aksh Optifibre

Hi Amit,

Thanks for the reply. Great analysis and lot's of insight. Never had an idea that a chart can tell so many things. Hats off to you and the members of this forum.

Happy investings
-Partha

PS : Did you use the screenshot I provided or u use some other s/w. In that case can you please upload a screenshot with the trendlines and how u arrived at the stop loss.

 

[sanjoy_roy]

Hi Amit,

I would love to be wrong on this one 'coz still in the learning curve.

The supports for Aksh exists at 69, 62, 55, 42.

Regards,
Sanjoy

 

[pkjha30]

Hi to all

This thread was started on 29 july 2005. Now it is nearing 3000 replies and
1,00,00 views which speaks volumes about the quality of posts and success rate. Hats off to AMITBE. Congratulations in advance.

I went through initial postings and I could see that AMITBE's good steals are in fact wonderful steals barring few which I am sure will up in the long run. Recomendations could be taken as long term as they are all fundamental play as well.

A must visit thread.

Regards to AMITBE
Pankaj