Some Good Steals...
- Thread starter AMITBE
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Hi Tushar,
I'm not aware when you entered these scrips, and I cannot even say if you should hold or exit any. Try to figure out what you'd like to do going by what I am able to see from the charts.
Blue Chip: It seems it's been in a steady fall from about 8 levels from early last month. I wonder if you entered at a slight pull back last week? At this time it is well below the last and only strong support of 5 levels to close at 4 with a big spurt in volume. Below this is 3, from over three years ago! When it does climb back past 5, there's stiff resistance at 6, and past that, there are several difficult levels to cross to arrive back at 8. You may likely get your price if you wish to wait and watch for a while.
Sangam India: Seems you've done well with this. There was a marginal drop today to 59.65, less than a Rupee from yesterday. Obviously bullish, and past 64, you could look to 75 in the near term.
Satnam Overseas: I had called this yesterday and it has slipped a little today after some gains yesterday. It's in an up-trend and will meet resistance at 104-105. Past this you should be looking to 115 first, and take it from there.
Vishal Exports: There's been a lot of talk on this in the forum recently. Today it has closed at an important support of 22 off and was in the midst of a nice pull back tilla couple of sessions ago when the markets began to come down. No fears with this, and past 25 it should do well as it's a very liquid counter.
Morpean Lab: Since the high at 13-14 in early Feb, it's been in correction and had levelled out around 7 with consolidation recently. Seems to have spurted recently on some news? The trigger for a new up trend seems to be under way, but did fall back the last couple of days along with the market. A good support at 10 off currently. Watch what happens when things settle down, and a push past 12 with volume should continue the up move.
Mphasis: You've taken a good entry, but the correction does not seem to be over yet. It has closed at a good support at 55 off today, but as I track it too, it should pull back to 60 plus soon where it seems to like to consolidate. It has tried to test 277 off recently several times but fallen back as could not sustain above 277 which it must for the resumption of an up-trend. Should it happen again and if it still can't stay above there, you may want to exit to re-enter past 285 with volume. Target then would be 320 plus. Unforunately, there is also news now of Baring's stake in it for sale and no one quite knows where things are going. But should that happen, expect a surge.
WELLWIN INDUSTRY: Since March last year has been in sidewards correction in a 7-10 band, and since the past three months is forming slightly ascending triangles. Needs a trigger for a sharp breakout above 11. Would you know how the quarterly results went? Check at the NSE site.
That's all for now, and should you need any claification, feel free to ask.
Regards.
I'm not aware when you entered these scrips, and I cannot even say if you should hold or exit any. Try to figure out what you'd like to do going by what I am able to see from the charts.
Blue Chip: It seems it's been in a steady fall from about 8 levels from early last month. I wonder if you entered at a slight pull back last week? At this time it is well below the last and only strong support of 5 levels to close at 4 with a big spurt in volume. Below this is 3, from over three years ago! When it does climb back past 5, there's stiff resistance at 6, and past that, there are several difficult levels to cross to arrive back at 8. You may likely get your price if you wish to wait and watch for a while.
Sangam India: Seems you've done well with this. There was a marginal drop today to 59.65, less than a Rupee from yesterday. Obviously bullish, and past 64, you could look to 75 in the near term.
Satnam Overseas: I had called this yesterday and it has slipped a little today after some gains yesterday. It's in an up-trend and will meet resistance at 104-105. Past this you should be looking to 115 first, and take it from there.
Vishal Exports: There's been a lot of talk on this in the forum recently. Today it has closed at an important support of 22 off and was in the midst of a nice pull back tilla couple of sessions ago when the markets began to come down. No fears with this, and past 25 it should do well as it's a very liquid counter.
Morpean Lab: Since the high at 13-14 in early Feb, it's been in correction and had levelled out around 7 with consolidation recently. Seems to have spurted recently on some news? The trigger for a new up trend seems to be under way, but did fall back the last couple of days along with the market. A good support at 10 off currently. Watch what happens when things settle down, and a push past 12 with volume should continue the up move.
Mphasis: You've taken a good entry, but the correction does not seem to be over yet. It has closed at a good support at 55 off today, but as I track it too, it should pull back to 60 plus soon where it seems to like to consolidate. It has tried to test 277 off recently several times but fallen back as could not sustain above 277 which it must for the resumption of an up-trend. Should it happen again and if it still can't stay above there, you may want to exit to re-enter past 285 with volume. Target then would be 320 plus. Unforunately, there is also news now of Baring's stake in it for sale and no one quite knows where things are going. But should that happen, expect a surge.
WELLWIN INDUSTRY: Since March last year has been in sidewards correction in a 7-10 band, and since the past three months is forming slightly ascending triangles. Needs a trigger for a sharp breakout above 11. Would you know how the quarterly results went? Check at the NSE site.
That's all for now, and should you need any claification, feel free to ask.
Regards.
Hi all...
Coming in this moning to update on the stocks I was posting for yesterday during tade:
Cummins: Lost the least gound. I'd written of a good volume buid up early yesterday. The good news is, that spurt declined as the day wore on, implying the holders' reluctance to sell in the falling market. Volume spurted sharply in other counters as NIFTY broke 2350, as sellers came in.
Past this corrective phase, look for gains.
GujNRECoke: Took a fall but held above 135, showing resilience. Though run up, still has juice left. If it holds 135 should the market fall futher, can take exposure for 165-170 in the near term.
India Bulls: At breaking 229 had slipped to 220, showing strength at this suppot level. In the end moments rallied to the last traded price of 228 off and the closing price of 226. At clearing 229 and passing 235, exposure can be taken for 265 plus in the near term. Has a fight at 255, but once the up-trend returns, should clear this. My earlier target was 300 which still remains but may take time now as the markets will recover slowly into a confident up-trend from the current beating.
There will be many good picks as the market becomes stable and will track and update.
However Malwa Cotton seems to have entered a new rally. Yesterday it made a high at 143 and closed lower at 135 off. A possible upside may come as the maket impoves, and at crossing 147 with volume, come in for a target of 165 plus.
Will be around.
Coming in this moning to update on the stocks I was posting for yesterday during tade:
Cummins: Lost the least gound. I'd written of a good volume buid up early yesterday. The good news is, that spurt declined as the day wore on, implying the holders' reluctance to sell in the falling market. Volume spurted sharply in other counters as NIFTY broke 2350, as sellers came in.
Past this corrective phase, look for gains.
GujNRECoke: Took a fall but held above 135, showing resilience. Though run up, still has juice left. If it holds 135 should the market fall futher, can take exposure for 165-170 in the near term.
India Bulls: At breaking 229 had slipped to 220, showing strength at this suppot level. In the end moments rallied to the last traded price of 228 off and the closing price of 226. At clearing 229 and passing 235, exposure can be taken for 265 plus in the near term. Has a fight at 255, but once the up-trend returns, should clear this. My earlier target was 300 which still remains but may take time now as the markets will recover slowly into a confident up-trend from the current beating.
There will be many good picks as the market becomes stable and will track and update.
However Malwa Cotton seems to have entered a new rally. Yesterday it made a high at 143 and closed lower at 135 off. A possible upside may come as the maket impoves, and at crossing 147 with volume, come in for a target of 165 plus.
Will be around.
Amitbe
Your views on the following - whether can be continued to hold
Ramco Industries
Sesa Goa
Nesco (New Standard Engineering)
Thanks in Advance
PS You all(you, saint,Joy Mitali, Ravi, Creamee) are doing a great job. In fact you have reduced the burden of Traderji.
I invariably log on to Traderji on a daily basis to read the posts of you all.
Your views on the following - whether can be continued to hold
Ramco Industries
Sesa Goa
Nesco (New Standard Engineering)
Thanks in Advance
PS You all(you, saint,Joy Mitali, Ravi, Creamee) are doing a great job. In fact you have reduced the burden of Traderji.
I invariably log on to Traderji on a daily basis to read the posts of you all.
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