Some Good Steals...

[AMITBE]

Hello Amit,

Amazing 2000 postss...loaded with knowledge and experience.
Always look forward to read both your threads and its been a pleasure reading your posts.

Sincerely thank for all your efforts....and being here at traderji.

Regards

Roneeth

Thanks Roneeth, it's most gratifying to see some of the members making good progress in the study of TA, and you are amongst them.

On Bharat Forge, the market is still not out of the woods, so it's a difficult call at this point. Some support levels and s/l were posted recently, so do look up those and trade accordingly. It's not a feeble counter by any means, so no real danger. And if select ones are goint to be picked going ahead, there will always be interest here.
Yes, profits evaporate so fast, and no matter what one does, this area of trading will always remain difficult. One regularly exits a little too early to rue it later, or one hangs on to a trade as profits evaporate. In the long run, it's always better to exit a little too early than to hold losses I suppose. Live off one's wits is all one can do.
All the best.

 

[ssnkumar]

Thanks Roneeth, it's most gratifying to see some of the members making good progress in the study of TA, and you are amongst them.

On Bharat Forge, the market is still not out of the woods, so it's a difficult call at this point. Some support levels and s/l were posted recently, so do look up those and trade accordingly. It's not a feeble counter by any means, so no real danger. And if select ones are goint to be picked going ahead, there will always be interest here.
Yes, profits evaporate so fast, and no matter what one does, this area of trading will always remain difficult. One regularly exits a little too early to rue it later, or one hangs on to a trade as profits evaporate. In the long run, it's always better to exit a little too early than to hold losses I suppose. Live off one's wits is all one can do.
All the best.

It is our greed which makes us hang on still it goes down.
And again it is our greed which makes us hang on hoping for it to come uP!!

Anyway, this is part of life and we must be ready to accept the defeats.

So, how do you see the markets in the coming days......that too with Budget coming in another one month or so!?

Regards,
Narendra

 

[AMITBE]

Amit,

Can you, please, take a look at Samtex Fashion. It might be a good long term play, but it broke out at 26 and reached 46, but since then it has been correcting (cmp 39). Bric Sec has gven the target of 82.

Kumar

Hi Kumar, it's a wait and watch to see how it deals with 35-36 supports should the market dips sharper.
We can take it up then. A nine month corrective phase seems to be over around the 25 levels. It needs to build up momentum to head above 46-50 area befor it can get to the levels you are expecting.
Do track and update.
Regards.

 

[AMITBE]

Hi Vinsu...there has been a buzz around this counter in the last little while. They are into a niche area of developing safety divices and anti collision systems for the railways and it seems they may not have a lot of competition in this area where growth potential is huge. On the face of it, this could be a strong winner over the next few months.
To see a stock taking a beating in the thick of the results season only suggests poor showing or market disappointment or both. It traded in a range till the eve of its results and then the beating.
I couldn't locate comparitive data so someone else may make an input here...it's certainly an interesting counter.
Technically there is hardly any data to go by, but as it's interesting, I'll attempt to find some likely key supports...
These could be around 255-246-243-240 for now with cmp 264.
To the up, 272-284-301-306 appear to be the levels of contention.
A'm tracking closely but do update when you like.
Thanks for the pointer and cheers.

Vinsu, brining this up again.
Kernex Microsystems had just tested support at 243.05 and attempting a pullback at 245.
This is the weakest I've seen it since your query.
If 240 looks like being breached, let it go though I don't see a lot of downside the way it's held on above 252 and 264.
Had started buying in small quantity on Friday, and adding some today. Over a period of time would build a decent position in this as it could be a dark horse over the next few months.
All this is to update you and not a buy call...in case you see it.

 

[kumar7]

Hi Kumar, it's a wait and watch to see how it deals with 35-36 supports should the market dips sharper.
We can take it up then. A nine month corrective phase seems to be over around the 25 levels. It needs to build up momentum to head above 46-50 area befor it can get to the levels you are expecting.
Do track and update.
Regards.

Dear Amit,

Thanks for your inputs, I really appreciate it. I'm planning to hold some of my shares for now. How does one analyse counters with such small volumes?
Also, is the 35-36 support strong? I guess they move up or down quite rapidly!

Kumar

 

[AMITBE]

Hi ragh_ash, the following is my previous reply fro Jan 29 on Carborundum:

Hi ragh_ash...yes perhaps for now, but considering your entry (140 off?), why don't you give it another chance to see if it'll trade above 170 without being volatile, and if so, expect another go at 184 as it has done the past two sessions. You could exit if it doesn't make it again but can hold as long as it keeps above 170 if it gets there as then there would be more room to the up. S/l below 163-161.
This one's not known to correct too sharply, but if it does and 163-161 are taken out, look for support at 153-155 and should this hold, you could begin to accumulate it again.
Regards.

It's now been testing 154-155 for the past seven sessions and back up there again after dipping to 143 low today.
An exit could have been taken as suggested above. As you're still in, the next support is at 147-153 area. Kep a watch and should the market pick up before any of the various supports mentiond are breached, it should consolidate without further dips, before heading higher again. Track and follow up if you like.
Shanti Gears is a hold. It stood up well in Friday's correction and today as well. Don't know where you entered but as a mid term idea, the s/l area is below 61 to 63.
Regards.

 

[AMITBE]

amitda,

anything to enter into at this stage ??????...
Ranbaxy, bharat forge, Mcleod Russel,ITC etc..

expert comments solicited..
ganeshhity.

Hi Ganesh...nothing my friend, nothing for now.
The market is full of fear and we should wait this time out. Opportunities will come later once we know where we are at. Let's just wait and watch.
All the best.

 

[shrinivas]

Hi Ganesh...nothing my friend, nothing for now.
The market is full of fear and we should wait this time out. Opportunities will come later once we know where we are at. Let's just wait and watch.
All the best.

Thanxx !!!!!!

Will wait for something positive..

ganeshhity

 

[p_haolader]

TA Books

Hi Amit/TA Experts,

Not sure if this is the right forum to ask this question, but i will take that liberty. I am trying to get a hang to TA and the posts on the forums are very helpful. I also do access online resources. But you will agree that nothing beats a good book. A leisurly reading on any afternoon can be quite rewarding.

So my dear fellow boarders, can you please list the top 2/3 TA books that take you all the way from beginner to an expert. Books that are easily available in india (rediff/firstandsecond/online shopping will also do) will make better sense because I can get them sooner

I know wisdom takes some time in comming , but i can always do with some help from you people.

Thanks
-Partha

 

[moneylaundrer]

Re: TA Books

Hi Amit/TA Experts,

Not sure if this is the right forum to ask this question, but i will take that liberty. I am trying to get a hang to TA and the posts on the forums are very helpful. I also do access online resources. But you will agree that nothing beats a good book. A leisurly reading on any afternoon can be quite rewarding.

So my dear fellow boarders, can you please list the top 2/3 TA books that take you all the way from beginner to an expert. Books that are easily available in india (rediff/firstandsecond/online shopping will also do) will make better sense because I can get them sooner

I know wisdom takes some time in comming , but i can always do with some help from you people.

Thanks
-Partha

Hi partha,
Its a good idea that ur going for TA seriously by reading a book.

Follow this thread
http://www.traderji.com/books/466-recommended-books-technical-analysis.html

Personally i have purchased "Technical analysis Explained" by Martin Pring..
U can get it from firstandsecond and if u bargain on their chat support u can get discount of 15%.

Best of Luck
ML