Hi all
Both Aztec and Rolta are teaching a good lesson on how a scrip stands on thin air without making a firm launching pad first. Both have darted about madly in complete uncertainty. I had mentioned to Jaspal that given the lack of a firm base, Aztec could flit down and it was amongst the top losers yesterday.
On the up side, though slipping a tad, Allahabad Bank did about 8.5 lakh volume and 70% of the quantity was deliverable. There is hope yet again!
Century, India Bulls and BOI made smart gains, and BOI may be nearing saturation. Ill seek an exit today and move on to other things.
Cummins is consolidating well and Godrej looking good in the 28-32 band for some time. Both Godrej and Gammon need volumes now as both have traded in a range lately.
LICHsgFin never kept above 239 off levels, where it drops back from. Keep an eye, as past that level it will aim at 145-148. In the near term it is showing a lot of promise for now and can out perform.
From yesterdays posting, both Mphasis and Pricol made smart bullish moves.
Narendra, 55-57 are crucial levels for Pricol as I mentioned yesterday, and has support at the current levels. Like I said, take your chance past 57 close, and the target I cannot tell, but is going to be handsome, and well take it up when it moves.
Chanbal Fert was called at 33.95, and after intraday high of 35, closed 34.65.
Nagarjuna Fert, called at 16.40, did intraday high 17.10 to close 16.95 with almost one crore volume. I really like this one for 22-24 target near term.
IOB was called at 84.20, and a freak opening of 85.20 spoiled the fun as it struggled all day and closed lower. Volumes 6 lakhs, so keep this one in sight too. Both BOI and IOB, sound like inversed twins, eh? And both are becoming big boys now!
Escorts slipped, but is in a bull move and had 29 lakh volume. It is forming new high levels, so be cautious.
SBI Home Fin called at 21.55 lost a few paise, and the volumes fell too. Its given a break out couple of sessions ago, so keep good watch.
Aegis Logistics of course got locked at 5% up at 107, called at 102.25. May have lot more left.
Kopran called at 77.55 suffered from the same freak opening of 80.40, and couldnt keep up, to close at 77.95. There goes a good chance, but cautionit tends to be volatile.
Arvind and Alok made great moves yesterday, but caution again to those considering them. Both very frisky to lose ground, especially Arvind.
Ashok Leyland can also be looked at for quick in out from current close of 27.65, may be a couple of rupees.
Hi Narendraabout Eicher which closed 120 off yesterday. Shows no sign of recovery, though made an attempt at 123 yesterday with very poor volumes. 123 off is crucial for it to remain above or around, failing which could slip lower to 110 levels. No buy for now, Id say. Perhaps some news could help, or results?
Thanks phoenix for the appreciation. You are known to make great calls to, friend!
Final note of caution: It is believed that when penny stock go blazing, the bull run is close to the end. Penny stocks are running as we know. Be careful, the market could drop after yesterdays run. Both Dow and Nasdaq fell too.
Thats for now.
