New Intermed Uptrend!!

Most welcome,Jay .........and great going!

Saint

Hi Anupama,

Your post got buried,apologies for the late reply,but no consequence anyway.As for TELEDATA,still on my watchlist,but only on a move over 29 as said previously.

Happy Trading!
Saint

Hi! Watch first sign of Distribution, caution

With volumes touching all time high and price failing to move, is this the first sign of distribution. Act with caution and start generating cash.

thanx a lot saint...

UPDATES

BALRAMPUR CHINI:So far so good.Hold.Raise stop losses to 91.The expected blast off occurred as expected.Take some off the table around 122.

BOMBAY DYEING:Very nice.We got the breakout,now pulling back.It's a Hold.Raise stop loss to 320.

CENTURION BANK :Still going sideways.It's a Hold as of now.Raise stop loss to 20.5.

FINANCIAL TECH:So far so good.It's a hold.Keep stop loss at 1100.

INDIABULLS:Nice wide range bar breakout on the weekly last week and now a pullback.Looking good.It's a Hold.Raise stop loss to 150.

KARNATAKA BANK:Took profits at 113.8 today.And already raised stop loss to 108(viz breakeven).Not looking too good.Strong supply here and the odds of a turn around quite high making this a lower pivot high on the weekly.Basically,get out at 108.Looking more and more like a sweet short than long.I could be wrong,but prefer to err on the side of caution.

KEI INDS:Raise stop loss to 216.Nothing wrong with it so far.Broke out,pulled back,now resuming its uptrend.So far so good.Still a HOLD.

PRAJ INDS :So far ,to plan.We had a breakout from a symmetrical triangle on the daily.Weekly looking set to resume its uptrend.Raise stop loss to 200.Hold.

MCLEOD RUSSEL:Nice systematic pullback .Expect a resumption in upward activity.For now,a HOLD.Keep Stop at 58.

MPHASIS BFL:Still looking nice on longer term charts.Hold.Keep stop loss at 138.

PUNJAB TRACTORS :Very nice.Keep stop loss at 185.

SHIPPING CORP:Still looking good on longer term charts.Hasn't moved from our entry point,but looks as good as when we entered it.We are still trading within a huge sym triangle on the weekly.Keep stop loss at 140.

SAREGAMA:Nice gains in this one so far.Hold.Raise stop loss to 197.

GINNI FILAMENTS:Exitted with a loss,but taking a stop is part of the business.We couldn't get out at 33,the stop point,due to a gap down.We got out at 31.8 thereabouts.Now it's at 28.Thus the importance of adhering to the stops.We take our stop,and make money elsewhere,than to wait on the same one,pray and hope and lose time and energy and our mind in the process!

MSK PROJECTS:Yet to trigger.Stilla buy once it crosses 90.

BSEL INFRASTRUCTURE :Yet to trigger so far.Still a buy over 46.5 with a stop at 38.

JAYANT AGRO:Has not triggerred,but no more as interesting now.That weekly breakout is now a failed breakout and a possibility of lower prices.This play stands CANCELLED.

TELEDATA INF :Yet to trigger.Let it demonstrate some strength first.Still a buy over 29.

Many of the above stocks are showing bearish divergences on the RSI and TRIX,as is the general market.The time for CAUTION is once again here.So take some profits and tighten stops.Get out if stops hit.

Happy Trading!
Saint

Hi,
what abt sesa goa ??? is it right time to enter?

Hi Saint !!

gr8 post as usual..
solectron centurion, in the midst of a pullback..
what is ur take on it?

cheers
vizzie

Hi Vizzie,

SOLECTRON CENTUM :Hope this one is the one you are asking.If so,nice pullback and starting its move up,but that area of 300 is one strong area of supply that it has to clear(from 2000).Your money may get caught up in the battle between bulls and bears over there.So until we get a decisive close over 300 this one is for the watchlist.

Happy Trading!
Saint

Thanks a lot Saint for all those great calls.

Can you please look at Power Trading corporation (PTC), RCF (Rashtriya chemicals and fertilizers) and Tamilnadu Telecom (TAMTEL) charts... It appeared to me that PTC is resuming its uptrend.

Thanks.

Nope,not yet,Omkar........Sesa Goa is in the middle of a pullback.At present we have a rising wedge on the weekly which is a bearish signal especially after an uptrend.Best not to enter here and watch how this performs.For now don't commit your funds as yet.

Happy Trading!
Saint