Some Good Steals...

[AMITBE]

Dear Amit,

One more counter of some interest but not talked about in the forum is 'Emami'... I want to get your view before entering in it. I thought of entering at about 190 levels couple of months ago but somehow I did not.. and now it is quoting around 240.. but charts is still looking good. Your comments would be ultimate.

Thanks.

Hi Alok...I'll need to come back to this later tonight...it's midst of trading now.

Kumar, your query too later.

Rahul, I have a bunch of queries from you...your stuff needs a longer time to look into. Over the weekend perhaps?

Thanks and regards.

 

[mail2joshi]

Hi Joshi, the link to Rallis and the chart is here: http://www.traderji.com/40918-post3418.html

Contrary to expectations, it's fallen off shaply, and holding above the suggested stop.
It's threatening to break down at the neck of a H&S now, if slips below 300.
May as well wait now to see if it'll make an attempt to rally to the right shoulder around 320 or so.
These are crucial levels now, as below this the positive divergence in MACD which is holding on so far will also break below the trendline.
It's not looking too good, am tracking and will update.
Keep the stop.
All the best.

Hi Amit,
Good movement in Rallis but volume is very low. I am seeing only 10k on my browser.

Regards
sjoshi

 

[AMITBE]

Hi Amit,
Good movement in Rallis but volume is very low. I am seeing only 10k on my browser.

Regards
sjoshi

Hi Joshi.
Yesterday the low at 299 didn't quite trigger our stops...just about not.
Yes a good move again.

Follow that link in your post, and you'll read this from my original post:

Another interesting chart is on Rallis.

There are two somewhat less known patterns here, both appearing in quick succession: The Rising Wedge and the Falling Wedge....

...An interesting point to note is that the 20 and 50 day SMA are quite close together at 322 and 328 respectively. The 200 day SMA falls further up at 347.
As a point of importance, a stock when crossing above its 200 day SMA is considered quite bullish.
Looking at EMAs, at 327 close tonight, the 8, 13 and 34 day EMAs are 328.70, 327.90 and 329.80. Again they are bunched together, and just a tad above the current price.
Again as a point of importance, the 50 day EMA is further up at 335, and a stock passing above its 50 day EMA is considered bullish.

So the 200 day SMA at 347, and the 50 day EMA at 335 are only a little above the current price at 327.
Also note the Trendline/resistance line at 347 would also act as a trigger, once taken.

To track Rallis as a trade setup, above 335-347, the first target would be 425, which is the highest mark back in the first week of January. 385 and 398 are likely resistance levels.
S/l is 299 at this point.

Today the high at 334.80 has retested the 50 day EMA mentioned above, but couldn't hold it.
Look at the suggested trade set-up above.
You entered at 242, but the 200 day SMA at 347 was not taken out the day you entered. The high that day was 345.
Rallis reacted hard at that level and fell back sharply.

At this time of course the 50 day EMA and 200 day SMA have dropped on account of the fall recently.
It's trading at 324 at this point which happens to be its 34 day EMA. This is also an important mark.

It still an interesting possibility, though after that sharp pullback, it may take time to get going again.
Just keep your stops intact.

As for low volume, basically this is an illiquid counter.

All the best.

 

[roneeth]

Hello Amit,

India Bulls rocking .....

Cheers

Roneeth

 

[AMITBE]

Hi Amit,
Good movement in Rallis but volume is very low. I am seeing only 10k on my browser.

Regards
sjoshi

Hi Joshi.
Yesterday the low at 299 didn't quite trigger our stops...just about not.
Yes a good move again.

Follow that link in your post, and you'll read this from my original post:

Another interesting chart is on Rallis.

There are two somewhat less known patterns here, both appearing in quick succession: The Rising Wedge and the Falling Wedge....

...An interesting point to note is that the 20 and 50 day SMA are quite close together at 322 and 328 respectively. The 200 day SMA falls further up at 347.
As a point of importance, a stock when crossing above its 200 day SMA is considered quite bullish.
Looking at EMAs, at 327 close tonight, the 8, 13 and 34 day EMAs are 328.70, 327.90 and 329.80. Again they are bunched together, and just a tad above the current price.
Again as a point of importance, the 50 day EMA is further up at 335, and a stock passing above its 50 day EMA is considered bullish.

So the 200 day SMA at 347, and the 50 day EMA at 335 are only a little above the current price at 327.
Also note the Trendline/resistance line at 347 would also act as a trigger, once taken.

To track Rallis as a trade setup, above 335-347, the first target would be 425, which is the highest mark back in the first week of January. 385 and 398 are likely resistance levels.
S/l is 299 at this point.

Today the high at 334.80 has retested the 50 day EMA mentioned above, but couldn't hold it.
Look at the suggested trade set-up above.
You entered at 242, but the 200 day SMA at 347 was not taken out the day you entered. The high that day was 345.
Rallis reacted hard at that level and fell back sharply.

At this time of course the 50 day EMA and 200 day SMA have dropped on account of the fall recently.
It's trading at 324 at this point which happens to be its 34 day EMA. This is also an important mark.

It still an interesting possibility, though after that sharp pullback, it may take time to get going again.
Just keep your stops intact.

As for low volume, basically this is an illiquid counter.

All the best.

Ahh...one more important thing Joshi.
My reply yesterday on Rallis:
http://www.traderji.com/41732-post3464.html
There is mention of a H&S there whose 'right shoulder' is at or around 320-325 . I'd written yesterday that it may come up to retest its right shoulder, should this indeed pan out as a H&S. It just may.
So be careful.

 

[kumar7]

Dear Amit,

Media Video is rocking! When you have time, kindly give me the targets. Indiabulls also rocking!

Thanks!
Kumar

 

[AMITBE]

Re: Dear Amit,

Media Video is rocking! When you have time, kindly give me the targets. Indiabulls also rocking!

Thanks!
Kumar

Hi Kumar...yes, Media Video is rocking along...though I'd be happier for a close above 52-55 levels where it'll move better. Those are the all time highs.
Over those levels it may likely rally up towards 57-60-63-69 plus.
How and when I don't know. Don't know your entry, but stop at 37.
Indiabulls is doing great.
Cheers.

 

[kumar7]

Re: Dear Amit,

Hi Kumar...yes, Media Video is rocking along...though I'd be happier for a close above 52-55 levels where it'll move better. Those are the all time highs.
Over those levels it may likely rally up towards 57-60-63-69 plus.
How and when I don't know. Don't know your entry, but stop at 37.
Indiabulls is doing great.
Cheers.

Thanks Amit,

I bought at 39! I'll hold.

Kumar

 

[AMITBE]

Hello Amit,

How are you? I was out of station for a few days so couldnt post for some time.Great going on India Bulls 275 now,had increased my holdings a few days ago.Just went through your post for Rahul on MACD...Great stuff as Usual...will be going through again till i get it straight.
Thanks once again for being here at Traderji and guiding us.

Best Regards

Roneeth

Hi Roneeth...thanks and its great to be here amidst all you friends, sharing and learning.

Indiabulls has finally claimed its position up there with the strong ones.
At this point 303-310-317 are important levels to stay above for further moves.
324-331-338 are the likely step up levels at this point.

All the best Roneeth.

 

[rahulg77]

Hi Amit,

Pls take your time. I anyway feel very awkward as I feel I ask you and saint too many questions. Thank you again to u and Saint for always being so patient in my learning experience.

Rgds
Rahul