sbi broke down last week from monthly h & s and took all banking stocks along with it.
Fresh monthly lows were made by many nifty stocks like rcom , ranbaxy ,icici bank , relcap , pnb ,sbi etc . hence avoided trading them . Bought zee l @ 92.9 s/l 87.8( third time iam buying in the same zone and may not be lucky this time and hence a lesser position size) and hind lever @ 213.5 s/l 208.7 and holding as of now.Will buy tatasteel in the 140-145 zone s/l 134.8 and ambuja around 60 s/l 58.8 . Power grid and maruti seems to be strong and will catch it around weekly supports incase it falls.
Here again the attempt in most stocks is to catch a falling knife and play a counter trend rally . Cant hold anyof them for investment till nifty makes a hh-hl on monthly charts.
asishji , nice to see you in action ... mom is doing better right now and i will be located in bangalore for next two weeks atleast hence my participation may not be on a daily basis.