Hi all,
Well welland today CenTextile did it again in its own great style and went and lost everything from yesterday. True there was a freak opening at 324 after yesterdays close at 305 which pushed it off balance, but then pressure came in from the indexes later. Even so, after delivering pretty good results in the first quarter, this kind of selling should not have happened. Perhaps the dividend of 25% did it? I remember at the year end results in April where it did well, there was a quick drop too. Will dig around for info later. A good learning experience though. Will wait to see what happens tomorrow.
AlBank and Dabur did what was expected, and I hope some one made it to Dabur which was begging to be taken last two days. And kudos to Dabur for doing its bit in the closing session to back the Nifty.
Hind Lever tried several times to clear 261, but on a day when FMCG majors like ITC and Colgate got beaten and others remained flat, it could not really fire and fell back a little. This one will come back in so keep watch and levels are mentioned in previous posts.
Sonata again brushed 32 but later fell with the rest. On a good day, the next time it may break out.
Narendra, you can congratulate yourself if you got into IndBulls, which is staging a great recovery on good volumes. This one too was pleading to be taken at 173-176 last two days. Closed 184.70 on big volumes, and theres lot more left here. Oh, and to answer devansh_gods question here, if you wish to remain invested, my one month target on this is 220 plus, and in the mid term, meaning by the second quarterly results, you could be looking to 300.
On some other scrips Id discussed (I am repeating earlier recommendations here, and if interested please make a note and follow the movement of the scrips. The thread moves on and we forget about them):
Chambal Fert closed after great moves that took it to 37.50, but lost under pressure to close 35.55. Try to pick this at 34-35 but NOT below 34 to target 37-39.
Escorts has been dipping since a week ago from 109-110 levels to finish 101.50 today. It has a very good chance of bouncing back from here, or from 99-100 levels if the volumes continue. If it drops to 99-100 try to pick on the pull back past 102 levels. Will try to get back to 110 or more.
Ashok Leyland has been stuck at 27 off levels for the past few sessions with typically large volumes. The past two days it has ventured into 28 off levels intraday. It is in a very bullish trend and is a defensive play. Closing over 28-29 will take it onwards to 35-36. Be patient, will not get trapped or lose money.
SBI Home Finance at 23.25 close tried to get to 24 off today. Keep watch to close above 24 for 27 and then 30.
I feel Pricol will come into play early next week. You know the levels, so keep good watch.
From my earlier suggestions, two important events happened today:
Both Godrej and Gammon had strong closings today, with the long missing additional trump-card, volumes.
Godrej after making recent highs of 260 has been flitting around 228-235 for over a month. On a rough day like today it closed 241.20 with ok but much increased volumes of over 2 lakhs with 50% delivery. Just past crucial levels now, and there is every reason to believe that the moment is very near indeed when it should be up and away. Be ready, but be careful as on low volumes it can be a slippery customer, will suddenly run up sharply but slip as quickly. My belief is based on the close levels and increased volume today. Come in only if you see volume build up early. Seniors may keep watch if interested. The targets are very juicy. Im holding position, (in frustration) from lower levels.
Gammon, since I started discussing it has been running on very poor volumes, just a few thousand for over a month, though at its most bullish moves, the volumes rarely exceed 2 lakhs. The price has jumped between 263-269 mainly and a few times has touched 274 intraday. On low volumes it has not been able to hold anywhere. Todays 270 close with 273 intra, with over a lakh volume with over 50% delivery is a great sign for this scrip too, at last. Watch for volume build up and to cross 274 to enter. And again, be very sure and quick either way, for it can spurt fast. Stop loss is 269, where I had bought it, but 263 is very good too. Dont I know! First target is 284, and on clearing 289, expect 299. Theres lot more when we ever get to it. Very early next week this should be flying around.
Another scrip, UCO Bank has given a very good signal closing 30.20 with a huge surge in volumes and high percentage delivery. Could open on the higher side tomorrow, so try to enter close to or just past 31 on the way up only for 34-35 or more in the near term. The current levels are crucial, lending a degree of safety. I like this one too.
To some answers:
Hi devansh_god, Ive already mentioned IndBulls. GujNRECoke is a good price you have paid. 118, from where it bounced today to close 119 off is a strong support. I dont know how long you have held this, and how long want to keep it. It has already closed 129 off but needs to close clearly above 130-132 to get very bullish. I too am holding for now. Unfortunately as it produces coke (not the drink!) this company is clubbed with the steel pack which has been making bad news off and on for a while. Ill suggest you wait but if you are in a hurry, bail out at some intraday high mark at your buying price. Youll get it easily, Im sure.
Nagarjun Fert came up with poor results, and Im not sure if you have position or wish to buy. Id not buy it for now.
BalramChini, again I dont know what you want to do, buy or sell. It has come of the high of 78 to 75 now. It had languished in the 50s for a long time, and even when the other sugar stocks move, this one tends to be the slowest. Any way, it has run up a long way from 55 levels with hardly a break, so this is a high price to pay now is my opinion. Look for something else?
Again, please let me what whether you want to buy or sell TTML and GSFC, before I reply.
Hi Narendra, Kanika Infotech is a BSE share for which I dont have data now. Can it wait over the weekend?
Hi ravi t, I have posted my reply at madhuras thread. Kindly read it there.
Good night.
