Some Good Steals...

Originally Posted by AMITBE

Originally Posted by AMITBE
Hi all,
From the Friday session, it appears as if the ONGC fire, and the Mumbai rains have been factored in by the market. ONGC seemed very firm all day at 934-938 despite a very early dip to 906. I feel it should trade firm again on Monday in the 950-960 band after a possible early dip again. Should this happen, along with the good results in most weighted counters, it would lead to a positive sentiment for the week, any corrections that would inevitably come, notwithstanding.
The issue of the negative advance/decline ratio is however a niggling concern, as is the flat midcap segment. The spookiness here was evident by the way in which the selling pressure came in the last half hour even in the normally steady scrips. Most gains were quickly lost and a lot even slipped lower than previous close. Only the very bullish remained somewhat firm.
However, should the money come back to the midcaps at some point, there could be many good picks at great prices.
Here I’m going back to the list I have been discussing, as a lot of them slipped Friday afternoon.

HindLever looks like a good pick at 166 off. If it can cross 172-175, will look to the 185 mark in the short term. Try to pick at some intraday dip, perhaps 163-164.

Dabur slipped to 145 off and is a pretty decent and defensive buy here considering it has tested 160 recently, and it should be heading there in the near term. Try to pick at 143 if it declines intraday.

IDBI is good at 110 for 125 near term. It has consolidated well at 113.

IndBulls is still a good buy according to me, looking at its movement. It closed 256, intraday 271. It may spend some time consolidating around 260-265 levels. Try to take it at current close if possible, though I expect it to open high. The target is 300 near term.

NTPC is very good at 93-94. I see this closing in on 105 near term.

CentTextile slipped rather sharply to 296 from 315. Watch this for strength, and should be heading to 315-320.

Arvind Mills is down at 128 off and at a close above 133 will test 140 where it has been a few weeks ago. Past 140, looking at 150 plus.

A few good scrips I have not discussed before are SRF, APTECHT and VOLTAS.
SRF has been slipping sharply the last few sessions, and has come down to 260 after hitting 291 recently. A great buy around current levels, the target is 310 in near term.

APTECHT has had a lot of bulk deals in the 92-95 range from institutional buyers recently. It is a great buy at the current 80 mark. Look for signs of strength to enter, as it has been slipping sharply too. May take a while but the target is 110 near term.

Voltas is not a very liquid scrip. Closed 245 off, and a good buy around here. At a close above 251, would be good for 265 plus. This has been waiting for a break out for some time. I’ll update on this again.

A few likely intraday plays for Monday which I will update after observing early trading:
Bank Of India: Try to pick at 140 moving up for 145-147.
HindLever: Try to pick at 162 on the up for 166-168.
IndBulls: Try to pick on the up at 263 for 270. Be careful with this.
Arvind Mills: Try to pick at 130 on the up for 135.
Dabur: Try to pick at 142 on the up for 147.
Voltas: Try to pick at 242 on the up for 248.

So much for now.
Thanks.

Anyone wanting to take positions in any of the scrips mentioned above are advised to be careful as there may well be an initial selling pressure if the close on Friday is any indication. However, buying will return at lower levels later. Even if the scrips gains points early on, I expect a drop, and then again a rally. Look for opportunities.

Originally Posted by AMITBE

A few likely intraday plays for Monday which I will update after observing early trading:
Bank Of India: Try to pick at 140 moving up for 145-147.
HindLever: Try to pick at 162 on the up for 166-168.
IndBulls: Try to pick on the up at 263 for 270. Be careful with this.
Arvind Mills: Try to pick at 130 on the up for 135.
Dabur: Try to pick at 142 on the up for 147.
Voltas: Try to pick at 242 on the up for 248.
Bharti had a freak trade at 313 and at 283 off, chances can be taken.

Originally Posted by AMITBE

BankIndia was down at 138. and went to 145.90. Target achieved.
Dabur was down at 138, and moved to 147.65. Target achieved.
Voltas target way exceeded, same on Hindlever.
Bharti moved from day's low of 281 to 291 off.
Heavy accumulation in Arvind and IndBulls for now.

Originally Posted by AMITBE

BankIndia was down at 138. and went to 145.90. Target achieved.
Dabur was down at 138, and moved to 147.65. Target achieved.
Voltas target way exceeded, same on Hindlever.
Bharti moved from day's low of 281 to 291 off.
Heavy accumulation in Arvind and IndBulls for now.

Originally Posted by AMITBE

Hi all…
Thanks guys, saint, nirmald and joy_mitali.
Dabur, HindLever (which I have been calling since 158 very recently), NTPC, CenTextiles, Arvind, all made terrific gains. Dabur and IndBulls can still be taken at any declines for a gain of 10-12 rupees quite early.
Arvind, if seems to be heading for a close of 135 or so, make a play for 140-142 near term.
Besides the earlier calls, SRF, APTECHT and VOLTAS also worked well. They were called at 260, 80, and 246, and finished yesterday in jolly good style at 284.50, 88 and 275.25 respectively. Voltas touched intraday of 286.
They could all come in for some profit taking today, especially Voltas. While I expect all the three to get higher, SRF and Aptecht are clearly heading towards 310 and 110 in the near term. If anyone is in, then hold for short term, or even enter at any possible declines. Watch for Voltas as it's in new territory.

Have not been able to do a lot of homework for now, but had a look at FDC, a pharma player, which has been repeatedly testing 52 off levels, a fraction above its 200 DMA. The volumes have been good and yesterday’s movement suggest a possible breakout. Should it appear to be heading for a 53 off close, chances can be taken for 58 first target. Will post later in the day.

Hey Roneeth, your Escorts made a great move and every possibility you may see some profits soon.

Thanks for now.