Some Good Steals...

[shrinivas]

Hi Ganesh...I'm not sure why March 30 is your last day...something to do with taxes?
It's recently tested 411 but pulled back a bit too sharp to touch base at 382 last week. Today there is a good move in it amidst a choppy market so let's just watch it for now.
395-402-406-410 are the levels to watch for above which will move better.
Cannot say anything on time factor.
Regards.

this scrip checking my patience now...yesterday closed 390...
I perfectly believe it would cross 410.....the fall to 382 stunned a lot...
ganeshhity

 

[dinkerj]

Hi Amit,
Two more stocks for your analysis pls:
1)Garden Silk
2) Satnam Overseas

Ceat finally showing strength.
What abt Tata Teleservices? It was much in use, but now toching its 52 week low (almost) !A good buy?

 

[AMITBE]

Hi Amitbe,

Can you tell me which tool you use for generating the chart (e.g. BSEL). It looks like a really cool one.

.Vivek

Hi Vivek, the program is Amibroker.
They will all generate studies etc, a trendline being the most basic one.
They all look cool too.
Regards.

 

[xtiger]

Entered Infosys at 2938 couple of months back. What you suggest Amit Bhai. Should I exit on rally as it is in sideways for quite sometime.

 

[AMITBE]

Hi Amit,
Two more stocks for your analysis pls:
1)Garden Silk
2) Satnam Overseas

Ceat finally showing strength.
What abt Tata Teleservices? It was much in use, but now toching its 52 week low (almost) !A good buy?

Hi Dinker, Garden Silk in the down swing hangs on to a trendline break point at 57-59. Slipping here would bring 53-56. No guessing the bottom, and to the up much congestion too.
Satnam at 75 has 72 as critical support below which is 67. A move above 87 at least may likely bring in strength.
Ceat has much to do still till 75 for starters. At 62 now.
Tata Tel is as bearish as ever and if 23 is lost, may well slip further.

There is no analyst worth his salt who can tell where these kind of falling scrips will come to rest, Dinker. Your individual trading style aside, I still feel your time would be better spent looking for counters with strength. This whole bull market is passing along in the meanwhile.
With the result season coming along, a lot of these falling scrips may bring in speculative players betting on turnarounds, or those stuck at higher levels.
Hope you wouldn't mind the remarks!

 

[nadtin]

Allianz Securities

Hi Amitbe,

Been reading ur valuable techinical analysis for quite sometime, thanks for the same. Hope you can help me with this... ur take on Allianz Securities?... entered at 33 and now it just wont rise above 27 max!... should I hold or let it go?
thanks,
nadeem

 

[jraj]

Hi Ganesh...came across the above two and if there is anything elase please do post again.
Ginni Filaments, in the midst of a major downtrend since Oct last year shows no signs of a reversal in the charts. At 16.75 now, an important support, any slip would push it to 14 off quite likely.
There's no call to buy in on this one I'd say. I'm unable to understand why you'd want to look at it. A turnaround in the fundamentals may be waiting just round the corner, but that's no reason to be eyeing it. We can't be guessing at a likely bottom for a miserably bearish chart. As traders we look for counters that display a distinct bullish disposition, else we should not be in this business.
Bottom fishing is a different approach to trading, but more often than not one would find oneself out in the cold in a hot market.

The story is not much different in Ranbaxy.
In this sector Elder Pharma which I'm in and tracking looks much better at this point. Can be taken above 293 with stop at 270 or 263. First target would be 325 and more. Closing above 331-335 would push it higher. Will track and update on this.

Another one mentioned on Friday to track is Gabriel India for a close above 30-31 with stop at 26 or 24. This is another counter for a couple of quarters.

Both RENVL and RCAPVL have been called and queried in the recent past here at lower levels but you seemed to have missed the posts. They are both good counters to be in for a couple of quarters at least. Yes, good at declines.

Check a couple of back pages when you come here to look for various counters being discussed, and do keep a track at Saint's and Supratik's for great trading calls too.
All the best Ganesh.

Hi Amit,

What is the news on Elder?Got stopped out today at 264,down Rs30 in two days.Lost about Rs15,000 in two days.

To be expected in the mkts,I guess.But just wanted to know if there is some bad news,etc?Why the sudden fall?

Jay Raj

 

[AMITBE]

Hi Amit,

What is the news on Elder?Got stopped out today at 264,down Rs30 in two days.Lost about Rs15,000 in two days.

To be expected in the mkts,I guess.But just wanted to know if there is some bad news,etc?Why the sudden fall?

Jay Raj

Hi Jay, yes one of the vagaries of the market I guess.
I was just looking up news/announcements etc to see what may have happened. What I found was that several FIIs and other funds have taken large chunks of Elder Pharma over the last two weeks. Results are pretty decent too.
The chart itself is just fine, and at the stage I called it, was looking like entering the next leg of the climb. The suggested stops were good enough to handle sharp pikes too. I've traded this several times with great results.
Of course the market and the breadth have not helped at all. I've stopped out on a few today on profit making trades, and lost a little on Elder.
I'm tracking it still and the earlier levels are all the same at this point.
All the best.

 

[AMITBE]

Thanks for your advise as always. I am keeping a hold on tata steel.
One more thing I am holding Hindalco also.
Hindal@125 CMP 163, it looks likes breaking the 160-165 range and may move forward. What do u suggest?

Regards..

Hi Ashish, great trade on Hindalco and with the markets acting up, keep s/l at 152.
Regards.

 

[jraj]

Hi Jay, yes one of the vagaries of the market I guess.
I was just looking up news/announcements etc to see what may have happened. What I found was that several FIIs and other funds have taken large chunks of Elder Pharma over the last two weeks. Results are pretty decent too.
The chart itself is just fine, and at the stage I called it, was looking like entering the next leg of the climb. The suggested stops were good enough to handle sharp pikes too. I've traded this several times with great results.
Of course the market and the breadth have not helped at all. I've stopped out on a few today on profit making trades, and lost a little on Elder.
I'm tracking it still and the earlier levels are all the same at this point.
All the best.

Hello Amit!

Thank you for your reply.Yeah,I suppose,as you say,one of the vagaries of the market.Thanks anyway.....are there any calls that you are recommending now that are not moved as yet,still looking good to enter here.

Regards,
Jay Raj