Some Good Steals...
- Thread starter AMITBE
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Hi Malabari, dinkerj, natkarthik and Karuna,
To your queries:
I have called NRC for a close above 64-65. The expected rally didn't materialise despite the volume build up and a good close on Thursday. On Friday it fell back a little as did the volume.
Pehaps for now, you did alright, Malabari. Should the move up come at some point you could re-enter. I'm keeping a close look and will update. I'm still positive on this counter even if it's testing one's patience. Others who have entered at lower levels may stay, or exit at some marginal profit. S/L is 60.
BSELINFRA has run up a lot and I had called it after it cleared its long term resistance at 42 mid week. It finished at 48.20 on great volume on Friday. It needs to clear 49-50 first. It managed to hit 49.85 and retracted. Target is 55 for now and will take it from there. It's showing extreme bullish tendencies, but be cautious. Try coming in at possible fall back as it has run up.
Dinkerj, yes Shyam Tele called around 91-92 early this week has flared on Friday to close at 98 with 12 lakh volume. If entered, after clearing 105, the first target is 115. If there's any retraction from higher levels, see it as a chance to enter if not yet done so. Potentially can go much higher.
Hi natkarthik, Aksh Optifibre called at 64 recently too has come into a rally. At clearing 70, expect 75 first.
Be cautious with this and watch for volume befor entering.
Hi Karuna, while devivatives is not my field, all I can say from my knowledge is that you may be in a fair deal of difficulties with the calls you are holding. There's not a lot of hope, except marginally from Allahabad Bank. I wish you had bought ONGC calls instead! No fears, this is part of the game.
Wastej is running a great thread on derivatives, do check with him and make up the losses for the Sept. series. Good luck.
There has been a new pattern emerging with stocks breaking out of sideways consolidation in recent times. The day after the breakout, there is now often a retraction to around the previous day's levels and the rally commences a day or two later. I have seen this recently in some of my calls: Voltas, Gammon, Aftek, Shyam Tele, AkshOpti, to name a few. Possibly since all of these have come out of prolonged consolidation, it takes a bit of looking at one another on the part of the traders for conformation? Who Knows...
Some of the stocks I have been tarcking and discussing, HindLever, Bharti and India Bulls lost ground on Friday. They are all in mid term bullish trends and have been getting bad media as being over stretched.
For me, they are set for bigger targets, especially Bharti and India Bulls.
Short correction aside, the price movement on Friday may well be a trap for bears who are shorting them. If anyone has positions, hold for now and see what happens over the next few days.
Will be back Sunday if any scrips come up as I need to dig around.
Regards.
To your queries:
I have called NRC for a close above 64-65. The expected rally didn't materialise despite the volume build up and a good close on Thursday. On Friday it fell back a little as did the volume.
Pehaps for now, you did alright, Malabari. Should the move up come at some point you could re-enter. I'm keeping a close look and will update. I'm still positive on this counter even if it's testing one's patience. Others who have entered at lower levels may stay, or exit at some marginal profit. S/L is 60.
BSELINFRA has run up a lot and I had called it after it cleared its long term resistance at 42 mid week. It finished at 48.20 on great volume on Friday. It needs to clear 49-50 first. It managed to hit 49.85 and retracted. Target is 55 for now and will take it from there. It's showing extreme bullish tendencies, but be cautious. Try coming in at possible fall back as it has run up.
Dinkerj, yes Shyam Tele called around 91-92 early this week has flared on Friday to close at 98 with 12 lakh volume. If entered, after clearing 105, the first target is 115. If there's any retraction from higher levels, see it as a chance to enter if not yet done so. Potentially can go much higher.
Hi natkarthik, Aksh Optifibre called at 64 recently too has come into a rally. At clearing 70, expect 75 first.
Be cautious with this and watch for volume befor entering.
Hi Karuna, while devivatives is not my field, all I can say from my knowledge is that you may be in a fair deal of difficulties with the calls you are holding. There's not a lot of hope, except marginally from Allahabad Bank. I wish you had bought ONGC calls instead! No fears, this is part of the game.
Wastej is running a great thread on derivatives, do check with him and make up the losses for the Sept. series. Good luck.
There has been a new pattern emerging with stocks breaking out of sideways consolidation in recent times. The day after the breakout, there is now often a retraction to around the previous day's levels and the rally commences a day or two later. I have seen this recently in some of my calls: Voltas, Gammon, Aftek, Shyam Tele, AkshOpti, to name a few. Possibly since all of these have come out of prolonged consolidation, it takes a bit of looking at one another on the part of the traders for conformation? Who Knows...
Some of the stocks I have been tarcking and discussing, HindLever, Bharti and India Bulls lost ground on Friday. They are all in mid term bullish trends and have been getting bad media as being over stretched.
For me, they are set for bigger targets, especially Bharti and India Bulls.
Short correction aside, the price movement on Friday may well be a trap for bears who are shorting them. If anyone has positions, hold for now and see what happens over the next few days.
Will be back Sunday if any scrips come up as I need to dig around.
Regards.
Hi amitkr,
Aptecht is in sideways consolidation, obviously. Once into the 90s, it is reacting around 94-95 and receding.
It's a good liquid scrip if you wish to hold and will spurt quick when this consolidation is done. There's no time frame on these things. At times I hold positions for 6-8 weeks if I know I'm on to a good one. I have held Aftek from 85 level since end June when it first began to stir.
Will update Aptecht when needed.
S/L is 80.
Aptecht is in sideways consolidation, obviously. Once into the 90s, it is reacting around 94-95 and receding.
It's a good liquid scrip if you wish to hold and will spurt quick when this consolidation is done. There's no time frame on these things. At times I hold positions for 6-8 weeks if I know I'm on to a good one. I have held Aftek from 85 level since end June when it first began to stir.
Will update Aptecht when needed.
S/L is 80.
Hi all,
Its not going to be an easy few days coming up tomorrow. The markets are going to be in turmoil with the Aug. series closing on Thursday and the indexes seeking new heights. So take care of your trades and exit doubtful positions if things appear bleak. Can always re-enter at declines.
Im listing a few stocks that have flared newly and all with volume. They are likely to commence an uptrend as of now. Ive given S/L levels, but then my recommendations are rarely in and out but rather a hold in the near term. Also watch for volume buildup before taking positions.
Satnam Overseas: Moving sideways for a few months has just about broken out to close at 98. Try to take on the up at 102-103 for 120-125 first. May have a hiccup at 107-109. S/L is 85.
Indraprastha Medical (INDRAMEDCO): Nice surge in volume to close at 48.80. Buy as it passes 50-51. Target is 65 first. Support at 43, S/L 40.
Abhishek Industries: Has been in long term consolidation and closed at 34.35 on the back of huge volume and in one go cleared its 200 DMA. Likely first target is 45. Strong support at 32, and S/L is 29.
Bell Ceramics: Closed 35.85. First target is 45. 31-32 is good support, and S/L is 30.
IGL: Has given a nice breakout at 113.85 with volume. Has support at 109, and S/L is 100. It moves a tad slow but a good defensive buy. May also pick up pace past 120. See how it moves and trail stop it.
Lyka Labs: Coming up with nice volume to try and clear its all time high of 87, it closed at 84.60. Buy it on the up around 87 for near term target of 100. S/L 70.
The markets on Monday are not likely to be conducive for trading except of course in select scrips. Please be cautious.
This is for now and will be around at trade.
Its not going to be an easy few days coming up tomorrow. The markets are going to be in turmoil with the Aug. series closing on Thursday and the indexes seeking new heights. So take care of your trades and exit doubtful positions if things appear bleak. Can always re-enter at declines.
Im listing a few stocks that have flared newly and all with volume. They are likely to commence an uptrend as of now. Ive given S/L levels, but then my recommendations are rarely in and out but rather a hold in the near term. Also watch for volume buildup before taking positions.
Satnam Overseas: Moving sideways for a few months has just about broken out to close at 98. Try to take on the up at 102-103 for 120-125 first. May have a hiccup at 107-109. S/L is 85.
Indraprastha Medical (INDRAMEDCO): Nice surge in volume to close at 48.80. Buy as it passes 50-51. Target is 65 first. Support at 43, S/L 40.
Abhishek Industries: Has been in long term consolidation and closed at 34.35 on the back of huge volume and in one go cleared its 200 DMA. Likely first target is 45. Strong support at 32, and S/L is 29.
Bell Ceramics: Closed 35.85. First target is 45. 31-32 is good support, and S/L is 30.
IGL: Has given a nice breakout at 113.85 with volume. Has support at 109, and S/L is 100. It moves a tad slow but a good defensive buy. May also pick up pace past 120. See how it moves and trail stop it.
Lyka Labs: Coming up with nice volume to try and clear its all time high of 87, it closed at 84.60. Buy it on the up around 87 for near term target of 100. S/L 70.
The markets on Monday are not likely to be conducive for trading except of course in select scrips. Please be cautious.
This is for now and will be around at trade.
Dear AMITBE,
Thanks a ton for your reply. Do you think it is a good idea if I buy options on the scrips u suggest, for eg. Cummins ?? I know derivatives is not your field, but I feel the profits far surpass the gains made from delivery based trades. (Of course, now I also know that the losses are equally good
). Anyways, I made quite a packet from Nov right upto April, now I suppose it is time for the law of averages to come into play. I wonder if it is really possible to make money long term from the stock market
Thanks,
Karuna
Thanks a ton for your reply. Do you think it is a good idea if I buy options on the scrips u suggest, for eg. Cummins ?? I know derivatives is not your field, but I feel the profits far surpass the gains made from delivery based trades. (Of course, now I also know that the losses are equally good
). Anyways, I made quite a packet from Nov right upto April, now I suppose it is time for the law of averages to come into play. I wonder if it is really possible to make money long term from the stock market Thanks,
Karuna
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