Some Good Steals...

[amitkr]

Hi amitkr, if you read this...Madhura..and other new traders..
You'd all apparently entered this world at the peak of a bull run.
There's not a whole lot to learn about the market in such a setting. It's a lot of fizz, profits aside. There's exuberance, profusion and buoyancy.
Yet like the ocean, the market is eternal and boundless, in a manner of speaking. Ebbs and high waters are a part of this, as they are a part of life. To take this forward another step, decay and revival are the fundamental pivots in nature, as in the market.
There's a lovely poem by Tagore which I'd like to share with you:

The night kissed the fading day
With a whisper.
'I am death, your mother,
From me you will get another life.

I'm aware some of your positions have taken a beating in the last few sessions. It can be quite disconcerting, yes, but ride out the storm. It's times like this this that makes men out of boys (no gender bias implied!). All of us who have been in this for long have been through here.
The pull back will come. Take this opportunity to study well the books available, and learn the tools of your newly found trade.

I didn't mean to pontificate, even if I sound as if I did. Nor did I mean to sound superior or supercilious
Emoting a little...perhaps..
Take care.

Hi AmitBe,

Thank you for your kind words..

I entered the world of trading this years' March.. It was a bull run going on then... I put my money on some flying stocks and suddenly one day the market crashed...Till the time I realized it I suffered some heavy loss...Honestly it was bad and discouraging.. BAD START... The first thing that was needed to be done was to recover the lost money.. So I said to myself (Koi baat Nahi Mazza AAYA) & I invested money in some solid fundamental stocks which slowely but gave me my lost money.

That was a good trading lesson for me. At that time time I heard this somewhere:

Bull Run in stock market is like a party going on. You passing by and you see lots of people Drinking & Dancing.... They Invite you ....U cant resist and join them..U also enjoy drinking & dancing and as u r new its a real good feeling for you...U are so involved that after some time you never realize that you are the only one dancing and rest of the crowd is having there food and leaving....And there you are...PARTY OVER ....U go home without food ...

So after recovering my money(by investing on solid stocks) I entered the world of trading again...I searched for information on net and I found this great forum...Thanks to your great calls on Aftek,BalaJi and many others I made some handsome profits... The time the markets where flying I was preparing myself for this day...The moment it started sinking I exited all my doubtfull positions(all in profit ...But retained some good ones like NRC & APTECHT(though they are down now but its a part of the big game.. I am in no hurry and I know they will give me profit... I dun mind if they take some more time)

Overall I was not crushed by this beating and thats really great for a noobie like me..

Last night I installed Metastock and downloaded lots of data...I really wish to understand all this...(Seems very tough)

Good part as I sold a lot, I have money in hand... so eagerly waiting for a recovery and your great calls

You are doing a great job....
Keep this flying

Thanks
Amit

 

[Karuna]

Hi Amitbe,

Thank you for making people like me, who have lost quite a hefty amount in this crash, feel a little bit better. I do like the way everyone has become poetic and suddenly there is so much time to read the same and also identify with it.

I have lost all my trading capital which consisted of 1/3rd of the profits earned so far since November, and surprisingly I am not all that sad, but smiling, especially after reading such encouraging words from your kind self, amitkr and jaideep.

Looking forward to recoup the losses with the help of you great guys.

Thanks,
Karuna

 

[aman1973]

hi Amit
great words
REGARDS
aMAN

 

[valueinvestor]

Hi Amitbe,
Indo rama textile @ 52 seems to be the best bet for long term. pl advice.
best wishes
Reddy

 

[AMITBE]

Amitbe
Your views on the following - whether can be continued to hold
Ramco Industries
Sesa Goa
Nesco (New Standard Engineering)

Hello kkz59,
Im not aware where or when you entered the scrips youve listed. Also, much would depend on your time horizon for holding.
Before I attempt to analyse them, its important to note that the fall in the last few sessions has skewed all the charts. Another factor is the heady run-up preceding this fall which has played its own part in slanting the charts. Nevertheless, this is my take:
Ramco Ind.: Illiquid counters like Ramco can often move to their own rhythm, disregarding the wider setting. The move to the down began a couple of sessions before the correction set in. It peaked on the 17th at 1180 after reacting at 1190 in the opening trade that morning. Since then is in a pull-down and just about broke a good support at 1106 yesterday to close at 1103. A pull back to take it back all the way up may take time. Should a further drop come, theres support at 1085, and below, down at 1060. S/L would depend on where you entered. NSE wouldnt allow me in to check the fundaments, but you may be aware, being quite thorough and prudent yourself!
Sesa Goa: Appears that the correction set in at the stock split continues, as it hasnt formed a base of any permanence yet. Had taken a good bounce up end of June from 570 levels which peaked at 770 earlier this month. Down steadily from there, has broken a firm support at 698 yesterday to close at another crucial level at 671. Should 660 be broken, expect a decline to 640-650. Its a front line scrip with strong fundaments as you would know. Hold or sell again would depend on the entry and time frame. The mid to long term prospects are obviously great.
Nesco: In a quick spurt, 937 was the peak very early this month. From there, down and sideways, and then down again at 707. Last two sessions, though it slipped, there is a slight divergence to the positive, and there is a likelihood of a pull back once things calm down in the market. Watch to see if it can start a climb back to 750 where itll get stable. For now its at an important juncture, for below this the next support is around 660 on the charts. Past 720, the early hint of a revival would come. Hold or sell again is your entry and time frame.
Hope this helps.
Regards.

 

[AMITBE]

Hi Tushar...I do hope you see this early enough: Mphasis is likely to take a bit of a beating on the news that the the Barring sale is off. You may want to book profits...and take it from there.

Hi milan1975, shankarn1, and valueinvestor...will look at your queries later in the day?
Hi shankarn1...you may want to post your query on RelCap in a separate thread. I don't track these things but there are many here who do.
Thanks.

 

[AMITBE]

Dear Amitbe
wow!!!! this is all i can exhale after reading your above post.. You indeed are a man of difference in this forum. a great technician, an excellent poet a good philospher and above all a kind hearted person who is always there to help each visitor here with all the possible options availbale to pull out someone from red .You know what,it's a reall good experience to know you!!!
Wishes and Regards
RAVI T

Hi Ravi,
Thanks for all the warmth.
If I may say so, there is none in this forum who quite exceeds your absolute sincerity and earnestness in helping others, and also in learning tech. analysis. I know just how much time and effort all this takes.
Keep it up Ravi.
Regards.

 

[AMITBE]

Hi AmitBe,
Thank you for your kind words..
I entered the world of trading this years' March.. It was a bull run going on then... I put my money on some flying stocks and suddenly one day the market crashed...Till the time I realized it I suffered some heavy loss...Honestly it was bad and discouraging.. BAD START... The first thing that was needed to be done was to recover the lost money.. So I said to myself (Koi baat Nahi Mazza AAYA) & I invested money in some solid fundamental stocks which slowely but gave me my lost money.
That was a good trading lesson for me. At that time time I heard this somewhere:
Bull Run in stock market is like a party going on. You passing by and you see lots of people Drinking & Dancing.... They Invite you ....U cant resist and join them..U also enjoy drinking & dancing and as u r new its a real good feeling for you...U are so involved that after some time you never realize that you are the only one dancing and rest of the crowd is having there food and leaving....And there you are...PARTY OVER ....U go home without food ...
So after recovering my money(by investing on solid stocks) I entered the world of trading again...I searched for information on net and I found this great forum...Thanks to your great calls on Aftek,BalaJi and many others I made some handsome profits... The time the markets where flying I was preparing myself for this day...The moment it started sinking I exited all my doubtfull positions(all in profit ...But retained some good ones like NRC & APTECHT(though they are down now but its a part of the big game.. I am in no hurry and I know they will give me profit... I dun mind if they take some more time)
Overall I was not crushed by this beating and thats really great for a noobie like me..
Last night I installed Metastock and downloaded lots of data...I really wish to understand all this...(Seems very tough)
Good part as I sold a lot, I have money in hand... so eagerly waiting for a recovery and your great calls
You are doing a great job....
Keep this flying Thanks

Hi Amit,
It really warms my heart to read your post. You obviously have plenty of maturity to deal with the swinging nature of the markets.
Just focus on working out tech. analysis and there are good books listed in this foum.
Learn also to decipher balance books and account statements of companies you like along with the criteria that the market looks for.
Above all, observe the way individual stocks move and develop an intuitive sense for them. Each has a disntictive gait. From here you would begin to anticipate their moves.
All the best.

 

[AMITBE]

hi Amit
great words
REGARDS
aMAN

Thank you, Aman.
Peace(aman!) be upon you always.

 

[AMITBE]

Hi Amitbe,
Thank you for making people like me, who have lost quite a hefty amount in this crash, feel a little bit better. I do like the way everyone has become poetic and suddenly there is so much time to read the same and also identify with it.
I have lost all my trading capital which consisted of 1/3rd of the profits earned so far since November, and surprisingly I am not all that sad, but smiling, especially after reading such encouraging words from your kind self, amitkr and jaideep.
Looking forward to recoup the losses with the help of you great guys.
Thanks,
Karuna

Hi Karuna,
Thanks friend...
I'm so so glad that you have the substance in you to smile through the pain.
Poetry is the stuff life is made of, not merely because of the rhythmic nature of our known world.
We all shall do our best to help one another regain the lost capital...with some compassion from the spirit above.
Take good care.