Some Good Steals...

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AMITBE

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usha said:
Yes saint,

you said it. I was wondering whether I was right in my thinking.:confused: Just a days before praying for it to raise even in pai but now feeling glad, satisfied when it was going down. I thought I shouldn't think like that.;)
bye,
usha
Very well said, Usha. That's the way to go.
The time for profits is not too far off.
Then we'll be all over it!
Good luck.
 
AMITBE said:
Hi Atul...it's very tricky to make any kind of readings at this point.
However, I'm still going with it looking at your time horizon.
GujAmb is fundamentally strong, and on the charts is in the midst of several supports currently. While it seems there is no much downside here, it can slip along with the market. It should keep above 60 to be in safety. Even if it does slip, it'll come right back on any good day.
NDTV is not looking too good. It has to be above 192 and consolidate there for any upside. To the down, be cautious at 170 as here it would be quite vulnerable.
Hexaware is in a sideways correction with weak area being below 95. There is density in the 112-122 zone and above this will gather pace. This is one of the good counters in its segment and should do fine.
For now NDTV looks like the only one for which you may like to seek an exit point.
Regards.
Hi Amit,
Today I made exit from NDTV @ 172 and it is going further down,now at 164.
Thanks a lot for your valuable suggestions. Plese advice when should enter into this scrip.

I am looking at these scrip, just want your valuable feedback once again
Polaris
Bank of Rajasthan
Deepak Feritiliser

Many Thanks
Atul
 

AMITBE

Well-Known Member
AnandJ said:
Hi Amit

How are you? I need help of seniors like you, Saint, Ravi T and others to check if my current position (i.e Hold for the next few months atleast) is fine. Pl. advise.

I have exposures in the following stocks (most of them Index stocks) and getting hammered heavily in every session :(. Please suggest if it is worth to hold to my position or cut losses.

1. Bharati Teleservices - Ent @ 337.00, CMP 312.45
2. FDC - Ent @ 52.00, CMP 46.10
3. Hindalco - Ent @ 147.80, CMP 126.90
4. Tate tele (Mah) - Ent @ 29.50, CMP 28.40
5. ITC - Ent @ 133.00, CMP 120.35
6. Sterlite Optics - Ent @ 111.00, CMP 90.00
7. Tata Motors - Ent @ 555.00, CMP 506.00
8. Tisco - Ent @ 406.50, CMP 362.60

I am at a loss in every sense and at cross roads whether to hold for this correction ??? to getover or cut my losses. Would be grateful if you could guide me. Thank You.......Anand
Hi Anand, yes there is a lot of pain for now, but of your scrips those well placed fundamentally will do fine looking at your time horizon.
With Bharti as in several other great counters, it would be futile to go looking at charts. They have been subject to heavy profit booking and may have breached important supports, but will be picked up fast at these lower levels once the market shapes up.
As the players do keep an eye on the techs, regardless, Bharti is safe above 303. Watch for this level in case of a sharp fall. At these levels it would be quite under valued and should bounce back. To the up, past 322, 337 is the mark to cross for an upside.
FDC is in a range bound prolonged sidewards correction with no visible trend. It has several supports at 42-45 for now. 40 is the danger level but has bounced off here in the past too. Be catious here. Above, 48-49 are the levels to cross and past this, at your entry, I suggest you exit this one and move on to something that's trending.
Hindalco is rather similar. Above 130-135 you may see it warming up, and when it does close in on your entry, it should be gathering pace to the up. This does appear distant for now. Below yesterday's close at 127, the supports are good at 122-125. Watch it below this.
Tata Tele is one of those that tests one's nerves. There is every likelihood you would see your price soon enough. Exit this if you like, again to a trending space. Be cautious below 25-26 for now.
ITC has trapped many players following the split. The trend which was in anticipation of the split would have run into density in the period preceding the split. So it's no surprise that this has happened post split. I had pointed to this in several queries on ITC. However, this is a front liner and a routine inclusion in most portfolios. Be with it, you would be fine in the mid to long term, if not earlier. 117-120 is firm support area so watch this.
Sterlite is undergoing correction after the runaway climb. I would be cautious below 87. It has to pass 95-100-105 for a recovery which seems distant for now. Don't wait for it below 85-87, else you'll be in for a longish spell. Watch for an upside in the short term, and if the volume is good on the rise, trail stop above 95.
Tata Motors and Tisco are the ones you have a problem with.
The recent rally in TataMot was merely a technical one and has trapped many unwary investors. The main move was sideways, and the upside was part of the correction. Hold for now and wait it out if your exposure is significant. The loss certainly would be.
Tisco was looking good until it hit the right shoulder level of a H&S from several months ago, and reacted badly. The entire steel sector has under performed including Tisco even though this is the best play in the sector. 340-350 is the crucial area of support and may not be tested in a hurry. It's another bluechip portfolio scrip, but for now it's your call. A close above 390 will set it up.
All the best.
 

AMITBE

Well-Known Member
atulgupta said:
Hi Amit,
Today I made exit from NDTV @ 172 and it is going further down,now at 164.
Thanks a lot for your valuable suggestions. Plese advice when should enter into this scrip.
I am looking at these scrip, just want your valuable feedback once again
Polaris
Bank of Rajasthan
Deepak Feritiliser
Many Thanks
Atul
Hi Atul...happy you were able to cut short the loss.
On the new scrips now, there is no call to buy anything till we are clear where the market is heading. Let's get past this correction before looking into something.
Regards.
 
AMITBE said:
Hi Anand, yes there is a lot of pain for now, but of your scrips those well placed fundamentally will do fine looking at your time horizon.
With Bharti as in several other great counters, it would be futile to go looking at charts. They have been subject to heavy profit booking and may have breached important supports, but will be picked up fast at these lower levels once the market shapes up.
As the players do keep an eye on the techs, regardless, Bharti is safe above 303. Watch for this level in case of a sharp fall. At these levels it would be quite under valued and should bounce back. To the up, past 322, 337 is the mark to cross for an upside.
FDC is in a range bound prolonged sidewards correction with no visible trend. It has several supports at 42-45 for now. 40 is the danger level but has bounced off here in the past too. Be catious here. Above, 48-49 are the levels to cross and past this, at your entry, I suggest you exit this one and move on to something that's trending.
Hindalco is rather similar. Above 130-135 you may see it warming up, and when it does close in on your entry, it should be gathering pace to the up. This does appear distant for now. Below yesterday's close at 127, the supports are good at 122-125. Watch it below this.
Tata Tele is one of those that tests one's nerves. There is every likelihood you would see your price soon enough. Exit this if you like, again to a trending space. Be cautious below 25-26 for now.
ITC has trapped many players following the split. The trend which was in anticipation of the split would have run into density in the period preceding the split. So it's no surprise that this has happened post split. I had pointed to this in several queries on ITC. However, this is a front liner and a routine inclusion in most portfolios. Be with it, you would be fine in the mid to long term, if not earlier. 117-120 is firm support area so watch this.
Sterlite is undergoing correction after the runaway climb. I would be cautious below 87. It has to pass 95-100-105 for a recovery which seems distant for now. Don't wait for it below 85-87, else you'll be in for a longish spell. Watch for an upside in the short term, and if the volume is good on the rise, trail stop above 95.
Tata Motors and Tisco are the ones you have a problem with.
The recent rally in TataMot was merely a technical one and has trapped many unwary investors. The main move was sideways, and the upside was part of the correction. Hold for now and wait it out if your exposure is significant. The loss certainly would be.
Tisco was looking good until it hit the right shoulder level of a H&S from several months ago, and reacted badly. The entire steel sector has under performed including Tisco even though this is the best play in the sector. 340-350 is the crucial area of support and may not be tested in a hurry. It's another bluechip portfolio scrip, but for now it's your call. A close above 390 will set it up.
All the best.

Thank You verymuch Amit. I feel a bit confident now. Kudos to your selfless service.

Kind Regards..........Anand
 
Hello Amit!

Hope you are doing fine!

Had entered Indian Acrylics at 15 BSE Code 514165 ...could you please advise
Can one enter petronet at current levels ...Petronet Q2 Profit at Rs. 40 Cr. Vs loss of 16.06 Cr Q1
Revenue up 88.2 % at Rs.945 Cr. Vs Rs.502 Cr last Q1.waiting for your comments.

Regards

Roneeth
 
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AMITBE said:
Very well said, Usha. That's the way to go.
The time for profits is not too far off.
Then we'll be all over it!
Good luck.
amit,
thanks:p
have you seen the present rates of escorts around72-73 god!
a penny saved is a penny earned, understood a very bit late:mad:
bye,
usha
 

AMITBE

Well-Known Member
kravindran said:
Hi Amit,

Can u pls tell me the prospects of SBI especially before october expiry ?

Thanks in advance,
Karuna
Hi Karuna...not looking too good like the rest of most everything else.
Further, on the charts there appears to be a breakdown at a H&S. With cmp being 862 off, the immediate support is at 855 area, then at 842, 838 and 825. Do keep a track of these levels...
Wish you all the good luck.
 
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