Some Good Steals...

leoboy · #**2791** 13th February 2006, 11:55 AM

Hi all,
Buy JindalDrill at this level.
Target 245 (3-4 days)
Good Luck

imbrainfever · #**2792** 13th February 2006, 12:09 PM

Quote:

Originally Posted by AMITBE

Hi there imbrainfever...hope you are feeling better!?

Thanks for the warm words...one does what one can, and if these posts strengthen the learning culture here, what more can one do for this great forum.

You may have written in error your entry in Assam Company? Unless there has been a bonus or stock split which I'm unaware of, the price doesn't seem to have crossed 30 levels here in my data.
Hold if you are sure of the fundamental data, with a stop below 16-17. These stop levels are if your info is accurate and you're willing to hold in the mid to long term.
A move above 26 with volume would bring this into a trend, where it's mainly been sideways since June last. We could asses it then.
All the best.

Oh.. I made a typo here.

I meant that I bought 450 shares at 24.35. I am hoping that the year end result declaration should bring some movement to North. Wish me luck.

AMITBE · #**2793** 13th February 2006, 12:15 PM

Quote:

Originally Posted by roneeth

Hello Amit,

Thanks a lot for taking time and posting.Somehow i missed this post yesterday and just saw it.Its been a wonderful learning experience here at traderji especially from you and Saint.Thanks to you both. If time permits could you please guide me regarding profit target of Torrent power 284 cmp...what are its prospects.Had taken it for shrt term i get stuck here taking profits timely...

Regards

Roneeth

Hi Roneeth...thanks very much good buddy...and it's nice being here amongst all the warmth, friendship, and learning of course.
Torrent has broken out and it's a hold. A close above 303-309 would see it testing 315-318-324 next. S/l 293 but keep a watch on the price/volume action before triggering the stop.
Good luck, much profit, and happy learning Roneeth.

AMITBE · #**2794** 13th February 2006, 12:44 PM

Quote:

Originally Posted by AMITBE

Mcdowell at 507 has gone a little weak today.
The lowest tested was 496 today after a recent high at 530 off.
Should this correction put it lower, supports are at 503-494-485 with 476 being strong.
Look for these levels to enter. The upside is great with 588-600-618-639 in the mid term. The target is 700.

The above is from January 10.
McDowell never fell below 495, and has come in strong today to make a high at 552 and cmp 543.
A close above 554-567 would push further towards the targets set above.
Hold preferably for the mid term with a stop at 490 if anyone in.

AMITBE · #**2795** 13th February 2006, 03:42 PM

Quote:

Originally Posted by AMITBE

Hi Partha...thanks for those kind words, but there is nothing here that you cannot do with practice. On the other hand I'm sure there is much here that has missed my eye too. The more one learns the finer it gets, which is true of any field.

I'm enclosing a detail from my daily chart here with trend-lines, and the arrow A pointing to the lone down bar in recent times which closes at 69.10. Going further back would show a few supports at 66-65 and then lower still. Those are from the time when the trend was on the rise, and perhaps in a down trend may not hold too well. For this reason below 69 is taken as stop, keeping in mind your entry.
To the up, the wide range bar pointed to by the arrow B shows closing price at 78. So this the price that needs taking out. On the subject of these gap bars, they extend much higher or lower than surrounding price bars, and usually reflect extreme sentiment and can be followed by reversals or consolidations. How and where a sharp spike occurs is something to note. In a trading range, a spike may just be a temporary 'noise' but if a spike occurs after an ongoing trend, it can be a sign of a price exhaustion. Arrow C is an example of this.
Also note that following the bar at arrow A, the next bar too is a wide bar where the price has jumped back up to 76 from 69 with increased volume. Following this the price has generally drifted along well above 69 but well below 78, seeming to suggest the buyers are not yet willing to go higher and sellers willing to go lower.
So, it's a wait and watch...and the longer the price drifts, the further it gets from a 'reversal' angle. This is subject to the markets holding of course.

On to another interesting observation, this time on the weekly chart (2nd chart). There is a clear case of a cup&handle taking place here.
This is a pattern on a bar chart that is usually seen forming over a long period of time. The cup is in a U shape, with the handle having a slight downward bias. The right side of the pattern has low volume. As the price comes up to test the old high, the stock would have selling pressure by those who bought in near the old high. This will make the price trade sideways with a downwards bias for a period of time. At some point the breakout would happen, typically to the up.
So keep a watch and all the best.

Hi Partha...a clean 10% circuit lock on Aksh closing at 78.85.
The cup&handle played out quite to the dot didn't it...and the descending triangle got nicely blown.
Now it needs to remain above or close to 78 for a clean upside.
If and only if it does so, the next line would likely be 80-83-86-90.
This is taking things rather far, but at a close above 95 it would turn quite bullish.
Cheers Partha.

saamy · #**2796** 13th February 2006, 03:51 PM

tata coffe has risen almost 10%. amitbe i have bought it at 325, so shall i hold or sell.

roneeth · #**2797** 13th February 2006, 04:05 PM

Quote:

Originally Posted by AMITBE

Hi Roneeth...thanks very much good buddy...and it's nice being here amongst all the warmth, friendship, and learning of course.
Torrent has broken out and it's a hold. A close above 303-309 would see it testing 315-318-324 next. S/l 293 but keep a watch on the price/volume action before triggering the stop.
Good luck, much profit, and happy learning Roneeth.

Thanks for your kind words.
Torrent close at 318,broke out with a royal move,opened at 284 ,Day high was 326 and the close was 318.
Deepak Fertilizers closed at 108 near to the days low 107.75...Volume did not come in.
Vivimed opened at 263 but close at 235.

Thanks and Regards

Roneeth

p_haolader · #**2798** 13th February 2006, 04:23 PM

Quote:

Originally Posted by AMITBE

Hi Partha...a clean 10% circuit lock on Aksh closing at 78.85.
The cup&handle played out quite to the dot didn't it...and the descending triangle got nicely blown.
Now it needs to remain above or close to 78 for a clean upside.
If and only if it does so, the next line would likely be 80-83-86-90.
This is taking things rather far, but at a close above 95 it would turn quite bullish.
Cheers Partha.

Yep .. the analysis was spot on. I held on to Askh , thanks to you. It's a pleasure being in this forum and getting valuable comments from experienced ppl like you.

Hat's off and a big cheers !!
- Partha

AMITBE · #**2799** 13th February 2006, 04:31 PM

Quote:

Originally Posted by roneeth

Thanks for your kind words.
Torrent close at 318,broke out with a royal move,opened at 284 ,Day high was 326 and the close was 318.
Deepak Fertilizers closed at 108 near to the days low 107.75...Volume did not come in.
Vivimed opened at 263 but close at 235.

Thanks and Regards

Roneeth

Hi Roneeth...yes a great move on Torrent. It seems to have covered all our immediate targets immediately! Now it needs to close above 327 to get on higher.
Yes, Deepak needs vlume and the concern with the Bull Flag is that the flag is getting longer.
Vivimed in fact had a freak opening trade at 263. As such, it has gained about 3% from the previous close from 324 to 334 today. It had been about 5% up pretty much all day. It's stil on and I'm in.
Bye for now.

AMITBE · #**2800** 13th February 2006, 04:35 PM

Quote:

Originally Posted by p_haolader

Yep .. the analysis was spot on. I held on to Askh , thanks to you. It's a pleasure being in this forum and getting valuable comments from experienced ppl like you.

Hat's off and a big cheers !!
- Partha

Thanks Partha...graciously accepted.
On your query from this morning, it's great to know you've taken to TA with much zest. Great going.
Shall reply to it later tonight.

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