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#1
17th November 2005, 08:31 PM
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Phoenix Lamps
What is the future of this stock? What is the short/medium term support and resistance levels for this stock?
Any targets? Please discuss. Thanks Prashanth 
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#2
19th November 2005, 12:22 AM
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Re: Phoenix Lamps
Phoenix lamps has been performing quite well. The lst quarter saw an increase of about 50% increase in net profit compared to the previous quarter and almost 100% increase compared to the corresponding period last year.
Recently in October HDFC mutual funds purchased 97000 shares of Phoenix lamps. Recently FII Home maker fund bought about a lakh shares of phoenix. Technically the trend is bullish. Yesterday the share jumped about 4% with huge volume. But Today the share dropped almost 5%. A little correction may be on the cards before it resumes the uptrend. Definitely a HOLD.
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#3
4th December 2005, 06:40 AM
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Re: Phoenix Lamps
Hi Saint & Karthik,
I bought Phoenix lamps at 94.00 its moving down since then (currently 90.45) I have the stoploss at 89. Should I move my stoploss, or should I get out of it at 89? Please advice. Thanks in advance. Bhuwan.
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#4
5th December 2005, 12:49 AM
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Re: Phoenix Lamps
Hi bhuwan
It is still positive on the charts. Ofcourse the prices are stalling currently. It is in the oversold region. Volume has dropped. The next few sessions will give a more clearer indications. I would give it more chance. I would put 87 as safer stoploss. (7% stoploss is quite acceptable). 89 may be too tight. regards Karthik
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#5
5th December 2005, 11:02 AM
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Re: Phoenix Lamps
Hey Karthik,
Thanks a lot for your suggestion.... Bhuwan
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#6
5th December 2005, 11:11 AM
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Re: Phoenix Lamps
Quote:
87 as suggested by Karthik is a better option.Taking that figure out,safer to exit and look for something else. Happy trading! Saint
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#7
8th December 2005, 08:04 PM
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Re: Phoenix Lamps
Thank you very much Karthik and Saint.
It seems to be regaining now...... Regards, Bhuwan.
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#8
9th December 2005, 08:52 PM
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Re: Phoenix Lamps
You are welcome, Bhuwan. Yes it is gaining now. It consolidated a little and moving up. Today we saw increased volume. expected to close higher then 96.2. I can see the momentum turning positive. Hopefully we should see three digit figures next week.
regards Karthik
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