Cummins and Dabur

AMITBE · #1 13th June 2005, 09:49 AM

Been following these two and have positions. After the fall on Friday, this could be a good chance for swing traders to enter as they are both set for good gains in near term. Especially Cummins(KIRLOSKCUM at NSE) which has in the last couple of days charged 150 and returned. Past 150 it should go for good gains. Has fallen back to 141, so keep an eye.
Would solicit your comments, Traderji.
Thanks.

viveanan · #2 13th June 2005, 05:21 PM

good call, i was watching dabur, got @ 127 and it closed at 128.50, only thing it closed below its last close and it makes 3 day bearish candle, will watch tomorrow opening and decide

sidstar · #3 13th June 2005, 06:11 PM

True for cummins
I know that they have some big engineering projects on the verge of completion, which if succesful, will award them with huge orders overseas.

One of the projects is building of CNG engines with high horsepower.

They'll be getting a big order from Tata Motors soon

AMITBE · #4 13th June 2005, 06:32 PM

Also, looks like some buying interest has returned into FMCG with Hind Lever and Colgate making smart recoveries.
Dabur tends to follow these scrips, and it has been a value buy at the levels of the last two sessions.

viveanan · #5 14th June 2005, 03:53 PM

good call, i booked 200 @ 127.00
you look at last 15 trading days of dabur, if tomorrow it will open +ve and can keep itself above 130, high target could be 138 to 140.

AMITBE · #6 14th June 2005, 08:17 PM

Only concern is not a lot of volume on Dabur, but it may return tomorrow.
Only large volumes have pushed this to these new highs.
Another one to keep an eye on is Bharti that has returned from its recent dip after reaching 227-228 levels last week.
Has closed over 127 with large volumes today. The news was govt. raising foreign investment within a week in telecom. Also Bharti has renewed contract with Ericsson.

AMITBE · #7 15th June 2005, 06:53 PM

vivenan, hang in with Dabur as there is not much downside from these levels, though volumes still not in. Just wait for positive news about the Monsoons.
Cummins slipped today to 138.65 and has strong support around these levels. High probability of a bounce from here or lower. Has a great target and after the correction will surely come back.
Hope some of you went with Bharti. Closed at all time high at 139.75 with intraday of 142 with huge volumes. Announcement of raise in FDI in the sector coming in next week so watch for further upside.
Could the chartists kindly suggest new levels?
Thanks.

AMITBE · #8 27th June 2005, 12:30 PM

For those of you who check the Forum during trading:
After a few days of depleted volumes, Cummins has suddenly come in with about fourteen lakh volume and trading around 134-135. Keep a watch for a possible sharp jump either today or tomorrow. It has a target of 150 plus in short term Has already tested 150 about eight sessions ago.
Its a very good chance now.