Some Good Steals...

[AMITBE]

Hi amitda,

Another counter to watch is Ginni Filament....Just have a look at the ups and downs graph from novemeber....I believe, we can wait and watch this one and purchase if it now consolidates....it was stable at 20 from quite some time...amitda, expert comments solicited....one more thing, I've been watching this from quite sometime now, though the market is moving forward, many of the scrips are not showing positive move that way...only the big dads are moving.....amazingly the ones that show positive movements are the ones that I've sold and the motionless are the ones that I hold back....pooooof !!!!!!

ganeshhity

Dear Amitda,

Ranbaxy further fell to 403 today....does this make it a good buy now... Or should I buy RENVL and RCAPVL at dips...

ganeshhity

Hi Ganesh...came across the above two and if there is anything elase please do post again.
Ginni Filaments, in the midst of a major downtrend since Oct last year shows no signs of a reversal in the charts. At 16.75 now, an important support, any slip would push it to 14 off quite likely.
There's no call to buy in on this one I'd say. I'm unable to understand why you'd want to look at it. A turnaround in the fundamentals may be waiting just round the corner, but that's no reason to be eyeing it. We can't be guessing at a likely bottom for a miserably bearish chart. As traders we look for counters that display a distinct bullish disposition, else we should not be in this business.
Bottom fishing is a different approach to trading, but more often than not one would find oneself out in the cold in a hot market.

The story is not much different in Ranbaxy.
In this sector Elder Pharma which I'm in and tracking looks much better at this point. Can be taken above 293 with stop at 270 or 263. First target would be 325 and more. Closing above 331-335 would push it higher. Will track and update on this.

Another one mentioned on Friday to track is Gabriel India for a close above 30-31 with stop at 26 or 24. This is another counter for a couple of quarters.

Both RENVL and RCAPVL have been called and queried in the recent past here at lower levels but you seemed to have missed the posts. They are both good counters to be in for a couple of quarters at least. Yes, good at declines.

Check a couple of back pages when you come here to look for various counters being discussed, and do keep a track at Saint's and Supratik's for great trading calls too.
All the best Ganesh.

 

[AMITBE]

Hi Amit
I have a query on India Glycols . From the charts it looks like the major resitance points are at around 175 which is now broken and the next resistance point seems to be around 150 . The volumes at 150 seem to have been very high .

So is it reasonable to expect that India Glycol (CMP : 168 ) will consolidate around that range or will it go down even further ?

Is it advisable to enter at these levels ?

--Hari

Hi Hari...resistance levels are where the price halts in an upmove. Similarly the levels where falls are arrested are supports. An earlier resistance often acts as a support later at a pullback, and a support when breached would become a resistance coming back up.
Resistance levels are above current price, and supports below.
The various levels mentioned by you are quite correct.
At 160 now, the crucial support is around 150 and tecnically for an entry here, this would also be s/l.
To the up, past 175, a likely major resistance is around 180 levels. This can clearly be seen in the weekly chart too, and as the weekly chart frequently depicts important levels, this 180 resistance is seen as a major one.
Further up are 195-198-204, all of which also exist on daily, weekly and monthly charts.
As and when the trend turns direction, we'd be looking at the above levels to to see how much pressure these would exert on price action, which in turn would be governed by the weight of volume and the strength of the momentum.
Do track it closely and observe what happens.
It's always great to see the learning process going on Hari, keep it up.
Bye for now.

 

[AMITBE]

Hi,

I have been holding a sizable portion of all the demerged Reliance stocks. I am in a dilemma whether to hold on to them for mid to long term or start booking my profits? From whatever I have heard, prospects look good for long term but there is always a "wat if" associated with that decision. Could you please provide some technical insights as to hold them or not?

Thanks in advance for all the replies. This thread rocks!

-K

Hi K...thanks for your kind words. This thread rocks just to the extent this forum and all its members rock!
Very broadly all those stocks would be great to hold, especially since you've got them for 'free' so to speak.
These are all new listings so there is not enough data to take technical readings off.
Yes, 'what if' is always a factor that works in both directions, but the popular sentiment is very positive on these stocks, and markets are all about sentiment. It would depend on your comfort levels, whether to hold all or to book out fully or take a little off each to redeploy the released funds elsewhere or whatever.
Along the line as data builds up on these, we could take a technical view.
All the best.

 

[rahulg77]

Hi Amit,

I was doing a little research of my own. I liked the charts for long term prospects of Tata Chemicals and Jai prakash associates. I know they have already appreicated and I have lost on a lot of movement in these 2 stocks but i feel there is still room for more appreciation. Would like to hear your views on the same.

Also what i would like to understand is when shares like these have already moved up. Have a nice trending line. its above SMA. and other indicators look positive. How do you figure out how much movement is left. I mean you have an entry point and you enter into a stock. But when u study stocks like these which are already past the entry point and have already appreciated and you have already lost on a lot of move, how do you decide how much more momentum is left in it.


Best Regards

Rahul

 

[AMITBE]

Dear Amit,
How are you, I am fine here. Got married in between so coming after some time.
What do u recommend for GSPL(GUJARAT STATE PETRONET LTD) CMP38/-
for a long term point of view. Is it right time to enter into this share.

And I am holding some shares of Pioneer investment CMP38/- . It is rising from last few days. Is it a hold as of now. Could you recommend a SL.

And Tata steel @351 CMP 467/-. Is it time to book profit.

Thanks a lot.
Regards,
Ashish

Hi Ashish, GSPL is a new listing so there's not enough data to take readings off. Since the listing, 34-35 area has been holding good so keep an eye on that if you are considering entry.
Pioneer Investment is going great guns for now. At 39 off now, this may give resistance, and getting past this, 42-44 will likely be tested. Difficult to place a stop, but if you want to cash out maximum fix it at 35.
All the best Ashish, and best wishes on the marriage again.

 

[AMITBE]

Hi,

Some time back , I had querried about GTL. Now, GTL has started going up. You have recently mentioned that GTL is picking up. My query is as under :

GTL is bifurcating its assets into 2 portions. onr portion is profit making investments and another is slow moving investment. This will deplete the Capital base of the parent company. so after division they will allot shares of another new company which will be a slow mover in the market. The portion of capital making earnings will have been reduced and its price also would go down subsequently. Is this rise real or make believe ? Recently , there was big volume and it looked to misguide public, this has been planned. Please throw light on this.

Hi cjsheth...GTL was called here at 101 to 107 levels a few times recently.
It's been in a steep climb and trading at 147 today, close to the day's high at 151. The volume is a tad lower, but looks good and real still.
I'm holding with stop at 130.
I'm not aware of the fundamentals but it certainly looks like a turnaround story looking at the charts.
All the best.

 

[chopra]

Many many thanks Amit, Saint, Dinkerj, vizzie for your wishes from me and my wife.

A nice poem on wedding I am posting here, one of my favorites.
Amit, for a change something in English this time. I hope you will like it equally.

Your old lives ended, your new life begun!
O may that life be like a splendid sun,
Forever burning, lighting up a way
Of Love and Peace through an eternal day,
Full of kind deeds, born of a mutual caring,
Sweet little things to make your lives endearing.

O may you love full free that you may give,
With selflessness, as long as you both live,
Not only pleasures, thrills, and joys well spent!
But hope, and faith, and trust, and sweet content,
To each other and may you bare your hearts
To learn the maxims there that Love imparts;
And when comes trouble, or a little woe,
Be understanding, and the cause will go.

A wedding is a fusion of two souls,
Two hearts, two loves, two minds, two goals,
Forever into one.... Does that sound wise?
To me, it does; but you must compromise,
That your two lives may blossom as one flower,
Which grows more fragrant every passing hour;
And sends its perfume lingering on the air,
Sweet as a song that will not disappear,
But haunts you with clear notes throughout the day
And haunts you still, though your youth fade away.

May you love dearly: as Husband and Wife,
Please be the essence of each others life
The yearning and the breath; and yes, the star!
And all the other precious things that are....

Treasure your love, and let your love be true,
Fresh as a rose in dawns lights gems of dew.

True love is great! and wide! and mountain tall!
In width and depth, true love surpasses all!
Such great true love will feel the greatest hurt
Why, even mountains crumble into dirt....

May God, and all his Angels up above,
Grant you their Peace, to make Divine your Love.

Regards,
Ashish

 

[chopra]

Hi Ashish, GSPL is a new listing so there's not enough data to take readings off. Since the listing, 34-35 area has been holding good so keep an eye on that if you are considering entry.
Pioneer Investment is going great guns for now. At 39 off now, this may give resistance, and getting past this, 42-44 will likely be tested. Difficult to place a stop, but if you want to cash out maximum fix it at 35.
All the best Ashish, and best wishes on the marriage again.

Thanks a lot amit for your advice.
GSPL I will be watching it.
Poineer Invest I am still holding as it has tested 40 today.

Any advice for Tata steel, still holding.

Take care.

 

[AMITBE]

Many many thanks Amit, Saint, Dinkerj, vizzie for your wishes from me and my wife.

A nice poem on wedding I am posting here, one of my favorites.
Amit, for a change something in English this time. I hope you will like it equally.

Regards,
Ashish

Hi Ashish...thanks for sharing that lovely peice with us, and may every word there be blessed.

You'd asked for something in English, so these translations are two important views from two masters: Maulana Jalauddin Rumi, a Sufi saint from Persia, and Khalil Gibran a Lebanese philosopher and artist:

Blessed Marriage, Rumi.

May these vows and this marriage be blessed.
May it be sweet milk,
This marriage, like wine and halvah.
May this marriage offer fruit and shade
Like the date palm.
May this marriage be full of laughter,
Our every day a day in paradise.
May this marriage be a sign of compassion,
A seal of happiness here and hereafter.
May this marriage have a fair face and a good name,
An omen as welcome
As the moon in a clear blue sky.
I am out of words to describe
How spirit mingles in this marriage.

Gibran on Marriage

Then Almitra spoke again and said, "And what of Marriage, master?"
And he answered saying:
You were born together, and together you shall be forevermore.
You shall be together when white wings of death scatter your days.
Aye, you shall be together even in the silent memory of God.
But let there be spaces in your togetherness,
And let the winds of the heavens dance between you.
Love one another but make not a bond of love:
Let it rather be a moving sea between the shores of your souls.
Fill each other's cup but drink not from one cup.
Give one another of your bread but eat not from the same loaf.
Sing and dance together and be joyous, but let each one of you be alone,
Even as the strings of a lute are alone though they quiver with the same music.
Give your hearts, but not into each other's keeping.
For only the hand of Life can contain your hearts.
And stand together, yet not too near together:
For the pillars of the temple stand apart,
And the oak tree and the cypress grow not in each other's shadow.

Best wishes again, Ashish.

 

[shrinivas]

Amitda,
One more query, you know the story of bharti...i purchased it at 401...have 30th march last date..should I sell and then again purchase at some dip... or this is no show game and I should exit....I believe to stay back...Expert comments solicited...

sincerest regards,
ganeshhity