Some Good Steals...

AMITBE · #**1651** 3rd October 2005, 12:33 PM

Quote:

Originally Posted by ssnkumar

Hi Amit,
Any BUY suggestion in the current market situation? Regards, Narendra

Hi Narendra, it's not easy making buy calls for now till we see better volumes and breadth. This market is more for short term/intraday trading. I am expecting correction and consolidation soon enough. Once we begin to move up from there, that would be the time.
It wouldn't be too long I feel.
Regards.

game4trade · #**1652** 3rd October 2005, 01:59 PM

Hi Amit,

Can you please advice me on HOCL. I entered at 49 and currently its around 39. Have observed that it going down continously.

What would you suggest on this?

Regards,
Ashish.

AMITBE · #**1653** 3rd October 2005, 02:13 PM

Quote:

Originally Posted by game4trade

Hi Amit, Can you please advice me on HOCL. I entered at 49 and currently its around 39. Have observed that it going down continously.
What would you suggest on this? Regards, Ashish.

Hi Ashish, firstly do go the NSE site and check details like financial results, company announcements for any forthcoming meeting/agenda, and holding pattern etc.
HOCL is currently under trade to trade segment, the BE suffix at the end of the symbol...stocks bought today cannot be sold tomorow. Also, the exchange is keeping a watch on this to make sure there is no manipulation. This is quite common on counters that get volatile and gain more than normal aveage.
Should the fundamental story be sound, HOCL would stage a recovery at some point.
It has gained today, and a close above 42 wold place it on safer ground. Let's watch this, and I will also look up the fundamens later and post.
Regards.

ssnkumar · #**1654** 3rd October 2005, 03:59 PM

Hi Amit,

Prajay Eng went up like a rocket for sometime and it got doubled from where I had bought.
Now for past few days it is doing the same in the opposite direction!!

Any idea, why such sudden changes in the trend?
Any possibility of it again gaining some steam to go up?

Regards,
Narendra

AMITBE · #**1655** 3rd October 2005, 10:03 PM

Quote:

Originally Posted by game4trade

Hi Amit,
Can you please advice me on HOCL. I entered at 49 and currently its around 39. Have observed that it going down continously.
What would you suggest on this? Regards, Ashish.

Hi Ashish...looking at the last annual results, HOCL has registered minor profit as against some significant losses last year. The last quarter shows increased losses compared to the corresponding one last year.
On techs, there was a minor pullback today closing at 41, and a closes above 42-43 will provide some interim safety. A drop at 38 see could further downside.
If you wish to wait for a recovery do so, but watch 38. 49 looks far from here, and I would make use of any rise to decrease holding.
Wish you the best.

AMITBE · #**1656** 3rd October 2005, 10:21 PM

Quote:

Originally Posted by ssnkumar

Hi Amit, Prajay Eng went up like a rocket for sometime and it got doubled from where I had bought. Now for past few days it is doing the same in the opposite direction!!
Any idea, why such sudden changes in the trend?
Any possibility of it again gaining some steam to go up? Regards, Narendra

Hi Narendra...yes, it's dropping hard, isn't it..
From what you have written, your entry seems way lower from the close tonight at 92.25. There could possibly be some recovery ahead so keep a watch.
Supports are good at 86-88, and further below at 82-85.
Do update at some point tomorrow?
Regards.

AMITBE · #**1657** 4th October 2005, 12:53 AM

Hi all...
The market would need to validate all the good moves today, and we are into a few crucial sessions ahead.
Subject to all going well, these are a few counters to watch with interest. They have all given confirmation of breakouts:
Unichem Labs at 237.
Gateway Distriparks at 225.
Bharat Forge at 362.70.
Visualsoft which I am in since 180, at 110 is likely to have another 25-35 Rupees in the short term ahead...perhaps more. Some now and the rest at 125 would be one way of entering. Strange looking inverse h&s on the daily chart.
Thanks.

AMITBE · #**1658** 4th October 2005, 11:00 AM

Quote:

Originally Posted by AMITBE

Hi all...
The market would need to validate all the good moves today, and we are into a few crucial sessions ahead.
Subject to all going well, these are a few counters to watch with interest. They have all given confirmation of breakouts:
Unichem Labs at 237.
Gateway Distriparks at 225.
Bharat Forge at 362.70.
Visualsoft which I am in since 180, at 110 is likely to have another 25-35 Rupees in the short term ahead...perhaps more. Some now and the rest at 125 would be one way of entering. Strange looking inverse h&s on the daily chart.
Thanks.

Unichem and Bharat Forge had high gap openings and consolidating for that reason.
GDL too consolidating well.
Visualsoft has been struggling at 112 the past few sessions and will clock gains past this.

koolprakash · #**1659** 4th October 2005, 11:07 AM

Hi Amit, Is Bank of Baroda a good buy at the current level?

Thanks

AMITBE · #**1660** 4th October 2005, 11:17 AM

Quote:

Originally Posted by koolprakash

Hi Amit, Is Bank of Baroda a good buy at the current level?
Thanks

Hi Prakash, BOB is a great counter in the banking space and will do well coming into the result season.
It's a little below some resistance area at 250-260-270. Anticipation of good results may act as a trigger, so I would wait for the momentum to pick up, which would be past 255-260.
Keep a watch.
Thanks.

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