Indian Hotels ( Help Required )

jrfab · #1 27th December 2007, 03:58 PM

Hi guys ,,,, I have been bullish on Indian Hotels for quite some time ,,, every technical analyst seems to believe that 160 is a strong resistance on this counter and the stock has retraced from these levels before,,,,

In todays trade at around 3.10 pm the counter was down 7 trading at 149.80 ,,,, suddenly the stock shot up to 157.90 in the last 20 mins and the volumes also increased by 25 lakh shares ,,, there was big build up seen in jan futures ,,, the stock after adjustment has closed at around the 153.5 levels ,, In post closing there are buyers 4 around 250000 shares ( bse and nse combined )

I have long positions in this counter and in the last two months that I have been tracking this stock, I have never seen such volatile movements ,,,,could someone tell me whether there is any news on this counter or is there something on the charts that suggest that there might be a big move building up ???? The volumes today were more than 4 times the average volumes ,,,,

Please help if u have any info on this ,,,,, thnx

jrfab · #2 27th December 2007, 08:11 PM

Is there not a single person who knows something abt this or can help me technically ????

sudoku1 · #3 27th December 2007, 08:28 PM

Quote:

Originally Posted by jrfab

Hi guys ,,,, I have been bullish on Indian Hotels for quite some time ,,, every technical analyst seems to believe that 160 is a strong resistance on this counter and the stock has retraced from these levels before,,,,

In todays trade at around 3.10 pm the counter was down 7 trading at 149.80 ,,,, suddenly the stock shot up to 157.90 in the last 20 mins and the volumes also increased by 25 lakh shares ,,, there was big build up seen in jan futures ,,, the stock after adjustment has closed at around the 153.5 levels ,, In post closing there are buyers 4 around 250000 shares ( bse and nse combined )

I have long positions in this counter and in the last two months that I have been tracking this stock, I have never seen such volatile movements ,,,,could someone tell me whether there is any news on this counter or is there something on the charts that suggest that there might be a big move building up ???? The volumes today were more than 4 times the average volumes ,,,,

todays action may b due to the xpiry of f&o dec series....
well...on technicals....INDIAN HOTELS IS A HOLD..only a close below 136.50 WILL ALTER THE BULLISH OUTLOOK...

anu.91178 · #4 27th December 2007, 08:35 PM

Quote:

Originally Posted by sudoku1

todays action may b due to the xpiry of f&o dec series....
well...on technicals....INDIAN HOTELS IS A HOLD..only a close below 136.50 WILL ALTER THE BULLISH OUTLOOK...

Ok thanks for the tip

jrfab · #5 27th December 2007, 08:42 PM

Quote:

Originally Posted by sudoku1

todays action may b due to the xpiry of f&o dec series....
well...on technicals....INDIAN HOTELS IS A HOLD..only a close below 136.50 WILL ALTER THE BULLISH OUTLOOK...

Hey thnx 4 replying Sudoku ,, but the thing to note was that the cash market volumes were 5 times the average volume ,,,, there has been a very good rollover and more importantly shares marked 4 delivery were in excess of 50lakh shares ,,, so obviously there is big ticket buying in this counter ,,,, The delivery volumes have been steadilt increasing ,,

Anyways thnx 4 ur technical help

satishjk · #6 27th December 2007, 09:00 PM

To answer your question. Morgan stanley sold 45lakh shares of Indian Hotels at 152.38 today and hence you saw a volatility. So it is changing hands and nothing much.

jrfab · #7 27th December 2007, 09:20 PM

Quote:

Originally Posted by satishjk

To answer your question. Morgan stanley sold 45lakh shares of Indian Hotels at 152.38 today and hence you saw a volatility. So it is changing hands and nothing much.

Thnx for the info Satish ,,,

winstonn · #8 27th December 2007, 10:30 PM

Hi jrfab,

dont sell off this scrip.

1) Weekly charts have shown a very good support from the longterm trendline
2) 50 weekly EMA above 200EMa and both rising
3) Ascending triangle formation.

Only now we should watch out for break of 160 ( with very heavy weekly volumes )which served severe resistance for 2 times and still for the third time.

I foresee a potential spark in this stock to outperform the genereal Indices 1-2 years down the line.
Rest all ok,

Take care,
Winston

sujit_76 · #9 28th December 2007, 07:30 AM

move above 162 may be very sharp. But till that time we have to keep patience.

jrfab · #10 28th December 2007, 09:08 AM

Quote:

Originally Posted by winstonn

Hi jrfab,

dont sell off this scrip.

1) Weekly charts have shown a very good support from the longterm trendline
2) 50 weekly EMA above 200EMa and both rising
3) Ascending triangle formation.

Only now we should watch out for break of 160 ( with very heavy weekly volumes )which served severe resistance for 2 times and still for the third time.

I foresee a potential spark in this stock to outperform the genereal Indices 1-2 years down the line.
Rest all ok,

Take care,
Winston

Thnx for ur views Winston , it gives me confidence to hold on to my positions when I have a technical confirmation of my view ,,, thnx a lot buddy ,,,,