Some Good Steals...

[saamy]

amitbe, can i enter FDC at current levels or shall i wait for a correction? Whats your view technically and fundamentally.

 

[AMITBE]

Thanks Amitbe for the response and the great insight. I really appreciate it.

I have made entries at different levels @ 145, 160 and recently at 346. My average is 209.

What do you think about the HFCL counter for a 3-6 month perspective, it has moved pretty quickly in the past few days?

Thanks

Hi Kooldude...on Bharti considering your entry and time horizon, you could hold with s/l at any of these levels: 330-319-310-303 which ever suits you.

HFCL and Bharti don't sit too well side by side in the same portfolio, do they.
I've no idea where it's at fundamentally at this time, but it has been pretty poor over a long period of time.
If you are keen, go in with a strict s/l below 22 or 20 max.
It needs to move above 25 and hold it there to form a strong base and then find it's way to break above 27-28 with momentum to get on with it.
Bye for now.

 

[AMITBE]

amitbe, can i enter FDC at current levels or shall i wait for a correction? Whats your view technically and fundamentally.

Hi sammy...I have no idea of the fundamentals on FDC.
Technically it has been in a range for about two years now, and this indecision in either direction is being depicted on the daily, weekly and monthly charts as a classic symmetrical triangle.
Typically as the coil gets tighter, the chances of a breakout get stronger in the direction of the trend.
Here 'trend' is the catchword in the sense that one would have to go back two years in this instance to determin the trend, which is of course to the up.
Now, two years is a long time for a scrip to be devoid of any trend so it would seem prudent, on the face of it, to leave the outcome of the eventual breakout as open-ended, without taking any stance on it.
Yet, a trend is a trend, even if it happened two years ago, and so the bias would rest on a breakout to the up.
In support of this we have a wide range bar on the daily chart on January 5 where it opend at 52.60 went to 57.70 to close 57.10. The next day it made an up bar, closed higher at 58.30 and then the price drifted down to test support at 49.80, a good support area, on February 2. Now it's pulling back again at 53 close, and a break above the trendline would come at 55-56.
If it can manage to sustain above 58, it is likely to attempt 62-63, but only with the weight of strong volume behind it, which incidentally has been average on the last two up bars. Above this level it would be a clean breakout.
While there are stronger trending counters around, if you are keen on this, enter with a stop below 48.
All the best.

 

[AMITBE]

Hi Roneeth, if you see this:

Another nice example of a Bull Flag is occuring on VIVIMED LABS which can be seen on the enclosed chart.
It closed at 222 with a three fold increase in volume compared to the previous three bars.
If you use the calculations on the Bull Flag theory, the effective breakout on the 'flagpole' happened at 165 and the top of the pole is 246.
So, should the formation play out fully which is quite likely, you are looking at a target price of 305 or so.

Further, the chart bears a resemblence to another bullish formation: The Cup&Handle. Here the right side rim of the cup levels out the left rim at 205, the bar just before the long bar at 246, which is close enough. The rest of the bars seem to be forming the handle.

This can be bought climbing above 225-228 with stop at 200, with a first target of 252-255-258-261-264-270.

All the best.

 

[AMITBE]

Gateway Dist. came up with flat results and taking a beating on account of that, where others Aegis, Blue Dart, Gati have done well.
I's an important sector and Gateway is a strong player.
There should be good recovery in the company by April results...tie-ups...whatever.
The stock is looking weak at 216 cmp, and coming off 214 a good support.
Should this be taken out quite likely in a falling market at some point, support lines are at 192-196-202-210.
At evidence of support at any of these it would be a great buy, not that cmp is too bad either.
Should the company come back with good numbers in April and there is no reason why it would not, this could make a killing.

From this call on February 1, Gateway never made it below 212 intraday that day and is at 250 now.

However this is about another stock mentioned above: Aegis Logistics. This was first called here in July last year at the price of 104. (I remember cos I'd bought in also).
Having tested the high at 313 in December last it went through a corrective phase to test 243 last week where it seems to have met a strong support.
Coming off this recent correction it may likely follow Gateway to get back towards the recent highs at 300 plus for starters.
Can be bought now around 265-270 with a strict stop at 240 with the first target of 295 then to 326.
Regards.

 

[imbrainfever]

Hi Amit da..

First of all, Congrats to you for keeping this biggest yet wonderful, intellectual thread afresh for so long and thanks for guiding novices like us in sucha a great way.

I come across news about Assam Company which has 350+ % profit compared to last year. They were also able to find the oil sites in Assam. I was hoping that this share should rise to 30-32 in next few days and therefore bought at 43.35(450 share). But the share prices fell to 19 Rs. recently, it is back to 23.65Rs. Selling this share will be benificial or holding it for long, Please suggest.

Thanks...

 

[AMITBE]

Hi Amit da..

First of all, Congrats to you for keeping this biggest yet wonderful, intellectual thread afresh for so long and thanks for guiding novices like us in sucha a great way.

I come across news about Assam Company which has 350+ % profit compared to last year. They were also able to find the oil sites in Assam. I was hoping that this share should rise to 30-32 in next few days and therefore bought at 43.35(450 share). But the share prices fell to 19 Rs. recently, it is back to 23.65Rs. Selling this share will be benificial or holding it for long, Please suggest.

Thanks...

Hi there imbrainfever...hope you are feeling better!?
Thanks for the warm words...one does what one can, and if these posts strengthen the learning culture here, what more can one do for this great forum.

You may have written in error your entry in Assam Company? Unless there has been a bonus or stock split which I'm unaware of, the price doesn't seem to have crossed 30 levels here in my data.
Hold if you are sure of the fundamental data, with a stop below 16-17. These stop levels are if your info is accurate and you're willing to hold in the mid to long term.
A move above 26 with volume would bring this into a trend, where it's mainly been sideways since June last. We could asses it then.
All the best.

 

[p_haolader]

Agro Dutch

HI Amit,

I am back with another query. Seems that the TA bug has bitten me badly. I have moved from BSE charts to FCharts. The chart of AGRODUTCH seems good to me, reasons being ..

BOLLINGER
1. We are comming out of the sqeeze with an uptrend.
2. The prices are near the upper bollinger band.

MACD (Maybe someone who uses this can answer)
1. We have positive MACD and increasing
2. The short term line(blue) is trading above the red one (long term).

Please enlighten me Waiting for your comments.

- Partha

 

[roneeth]

Hi Roneeth, if you see this:

Another nice example of a Bull Flag is occuring on VIVIMED LABS which can be seen on the enclosed chart.
It closed at 222 with a three fold increase in volume compared to the previous three bars.
If you use the calculations on the Bull Flag theory, the effective breakout on the 'flagpole' happened at 165 and the top of the pole is 246.
So, should the formation play out fully which is quite likely, you are looking at a target price of 305 or so.

Further, the chart bears a resemblence to another bullish formation: The Cup&Handle. Here the right side rim of the cup levels out the left rim at 205, the bar just before the long bar at 246, which is close enough. The rest of the bars seem to be forming the handle.

This can be bought climbing above 225-228 with stop at 200, with a first target of 252-255-258-261-264-270.

All the best.

Hello Amit,

Thanks a lot for taking time and posting.Somehow i missed this post yesterday and just saw it.Its been a wonderful learning experience here at traderji especially from you and Saint.Thanks to you both. If time permits could you please guide me regarding profit target of Torrent power 284 cmp...what are its prospects.Had taken it for shrt term i get stuck here taking profits timely...

Regards

Roneeth

 

[roneeth]

Hello Amit,

Torrent power just made 299...is it wise to take partial profits?Please advise if time permits.

Roneeth