Some Good Steals...

[rahulg77]

Hi Amit,

And this news making me afraid. so I wanted to know your views. Is really market may fall till 10000 level? Is there any possibility? What technical analysis says? What fundamental says? valuation are may be 20-30% below means what? Many more quetions are in my mind?

Or they wanted to create rumor to make market fall so that they start buying after that?

Thanks
wrgrds
Ahmed

Hi Ahmed,

Amit sorry for replying to a query asked to you. Ahmed I am also quite new to the market but what I have learnt in this forum is never predict the market. The price and the market tells you everything. Ofcourse you have targets but then the price is the ultimate decider. So go follow the trend and the indicators. If they tell you to get out you get out or just ride the wave and enjoy.

Hope it helps you. Pls Amit your views to.


Rgds

Rahul

 

[rahulg77]

Dear Amit,

Hi How are you? I am reading Candlesticks by Steve Nisson. It is a nice book. But I found something very wierd. In an uptrend every black candle has a meaning. If it gaps up and next day it gaps down a evening star. If a black candle covers the previous day white candle it is a bearish engulfing pattern. If covers more than half it is dark cloud cover. a big shadow at the bottom a hanging man and a shadow at the top and small body at the bottom a shooting star. If a candlestick opens at the bottom and closes near the top a belt hold line. I mean everything represents a reversal. and the reversal might be only for two days. So what reversals should we follow.

Also I wanted to read a book which has simple language and teach about indicators( RSI, ADX, DMI, MACD). I do not want a lot of indicators so a book which talks about some good set up indicators and walks us through the steps. Mainly I would also like the book to explain an indicator. For eg if it talks about RSI it should also tell us what the formulae talks about. I am a kind of person I liek to know what a indicator is telling us and why. instead of just saying if it is above 80 it is over bought and buy below 25. I want to know why.

Hope i could make it clear of what I want. Your reply would be appreciated.

Rgds

Rahul

 

[AMITBE]

Hi Amit

Can i enter Indiacements at current level...iam a medium term investor..

regards,
shan

Hi Shan...I'd stay out and observe a day or two. After the heady rise recently, the cement counters are pulling back, some sharper than others. So let clarity emerge here before going long.

India Cements ar cmp 207 has tested 202 Friday, and below can look at 182-186.
To the up I'd await a turnaround to close above 213-219-224...to avoide getting trapped in any undesirable formations for the near term.

Track and update if you like.
Regards.

 

[alok]

Thanks Amit..

Hi Alok...sorry to have missed this earlier, and a great trade panning out for you.
Ride it out as far as it'll go...I'd say a first target of 300 and the stop also coincides with your entry.
Some step up levels from cmp 274 are: 283-289-295-301-307-313. Once price is above a mark, it acts as a strong support.
Do track and let me know.

Main concern is volume. The last 100 points have come on diminishing volume.
Other than this there's nothing on the down side in the charts as of tonight.

Great going and all the best Alok.

 

[chachi]

Hi Amit,

This is in reference to my previous post about SREINTFIN. I had wrongly attached weekly chart for both attachment. Here is the correct daily chart for the same.

Also please have a look at SOLECTCENT (earlier analysed by you). Seems to be braking the previous top and hence new trend is getting formed.


Regards
Chachi

 

[AMITBE]

Hi Amit,

This is in reference to my previous post about SREINTFIN. I had wrongly attached weekly chart for both attachment. Here is the correct daily chart for the same.

Also please have a look at SOLECTCENT (earlier analysed by you). Seems to be braking the previous top and hence new trend is getting formed.


Regards
Chachi

Hi Chachi...yes, SERI is a really nice find, good going.
Yes, the descending triangle is clearly broken away now.
52 is a good stop as you have mentioned, but I would also have a look at 60-61 as shown in the weekly chart.
The reason is if this line breaks, important as it is for a support, the falling trendline on the descending triangle gets exposed again.
Also, price may experience this line (60-61) as stiff resistance in future, should it go below this line.

More on Solectron later, but looking good and making a good comeback on weekly too.
All the best.

 

[agupta]

Hi Amit,

Can you please provide your recos on the following stocks:

Century Textiles @616. Should I hold or book loss
Reliance Communication Ventures @ 335
GVK Infra and Power @302
GMR - Should I hold or Exit (this is traded on BSE only)
Ispat Industries and Petronet. I do not have big holdings in them so I can hold the stock if you see an upside in the medium term.

Thanks in advance for your valuable advice.

Amit

 

[chachi]

Hi Amit,

Mercator (MLL) hit the upper circuit today CMP 54.75. From chart I see that it has broken the Bearish wedge on the upperside and is flying. Seems it will have good steam to end up above 62. Can you please give your views.

Regards
chachi

 

[AMITBE]

Hi Amit,

Mercator (MLL) hit the upper circuit today CMP 54.75. From chart I see that it has broken the Bearish wedge on the upperside and is flying. Seems it will have good steam to end up above 62. Can you please give your views.

Regards
chachi

Later tonight Chachi...but do explain what you mean by 'bearish wedge' till then.

 

[chachi]

Bearish wedge - Triangular wedge formation in the downward (bearish) trend. Correct me if I am wrong. I have attached the chart showing the wedge formation.

Regards
Chachi