Some Good Steals...

Originally Posted by AMITBE

Dear Joy,
Thanks very much for your most gracious and kind words...
Perhaps I got carried away there a bit with the Junior-Senior thing. And to take your philosophy further, I should not have bothered if people did not reply, for doing what has to be done, really is the supreme motivation. It seems from the counter that quite a few people read the postings, and if some took action on the suggestions, I'm glad for it. In any case things can go terribly wrong too, so any sense of ego and pride would be and is, a lot of foolishness.
Yes, there is talk of Juniors and Seniors here. By virtue of the numbers of postings made if one is promoted, then it is merely a technical issue.
For me, the Senior especially, is one who attains that stature due to his or her quiet and modest demeanour, while retaining command over the subject. The Junior may or may not have a strong hold on the subject, but also may or may not have lot of fizz, as has been suggested by someone yesterday. Perhaps, for this reason there are deserving and undeserving members on either end.
For myself, I’d rather not be shrill, and choose to be understated.
On to business:
IDBI is going to look to 120 any time now.
BOI seems to be cooling off and I hope it won’t run out of steam before fulfilling its promise of 115 plus. Be cautious with it. It needs to pass 110 clearly, from what I have seen.
Centex has given another opportunity by dipping 8-9 rupees yesterday. The target of 315-320 seems very getable.
Rolta true to form is being most volatile. As I don’t see a lot of down side for it, those invested need not be tense. It’ll calm down and go about its target of 140 plus.
The rest are as they are: Solid scrips and on their way.
Sonata has for the past three sessions tried to get into the thirties and slipped back. A crossover into the thirties soon is very much on the cards, and as there is hardly any downside (it slips to 27 levels and quickly darts back to 29 change), one could consider taking position any time now. Quick target is 36.
Kale Consultants is another scrip to watch for. It has been bobbing up and down between 89-96, and on crossing 100 off, it would be its 52 week high. It should have a free run from there.
Thanks for now.

Originally Posted by vrinda

yhank you it was quiet impessive.

Originally Posted by rahulg77

hi amit,

can u pls see the technicls and advise me on riddhi siddhi. i entered on 171 levels. and it has been moving in the range of 185-179 after touching a peak of 225. shld i hold and with what stop loss. Also i am going to join a technical analysis class from tomm. Around 18 classes of 2 hrs each. Hope will learn from there and also benefit from the forum here.


rgds
rahul

rgds
rahul

Originally Posted by AMITBE

So now Shanti making a move yet again at 77 now after 78.80 high.
It has tested 76 a few sessions ago and making a comeback after a pullback
Trailing s/l at 73, or 71 for now. Hold for mid term at least for strong gains.

Originally Posted by rainmaker

HI Amit,

Can u help me wid Ashima Ltd. means the stock has been sliding continuously since August last year. Presently trading at a cmp of 12.55, the stock has already tested its 52 week low today.

OnTrying to interpret the charts the stock has a decent support around this level though on three year charts it hs gone to Rs. 10 as well.

On the earnings front the company has been undergoing a bad phase with the net profit margin at -19% (better as compared to -25% in year '03)

Am speculating entering the stock at sub 12 Rs. levels. Will be glad if u can share ur advice on this

Regards,
Rainmaker

Originally Posted by mejo

Hi Amitda,

In budget our FM has allocated a lot of fund to start a number of power proejcts and put his thurst on starting new power projects in near future.

Does this mean in mid-long term Power Equipment companies will do better than Power Plant companies ? What is your opinion on that?

Could you pls recommend some Power Equiment companies with an entry and SL level.

Thanks for your help in advance.

Regards
Mejo

Originally Posted by AMITBE

Hi Mejo...power generating majors would all do well going ahead as will the equipment companies. It depends on where you enter them.
Power equipment related companies would be more to choose from.
It would be nice if you could put in some research here and get a list.

A few that readily come to mind Easun Reyrolle Limited, Jyoti Structures, KEC Infrastructures, RPG Transmission, Suzlon Energy, and Tractors India.
All of these are way high for now.

Perhaps other members could make inputs on this and we could take it from there. Would be a useful contribution.
Regards.

Originally Posted by vizzie

Hi Amitda !!

All gr8 companies listed by you above..
Wud like to add Kalpatru Power & Transmission..
But as u said, way high for now, maybe on a neat pullback..

cheers
vizzie

Originally Posted by rahulg77

hi amit,

can u pls see the technicls and advise me on riddhi siddhi. i entered on 171 levels. and it has been moving in the range of 185-179 after touching a peak of 225. shld i hold and with what stop loss. Also i am going to join a technical analysis class from tomm. Around 18 classes of 2 hrs each. Hope will learn from there and also benefit from the forum here.


rgds
rahul

rgds
rahul

Originally Posted by AMITBE

Hi Rahul, while answering your query on Riddhi Siddhi a few days ago I had suggested a hold with s/l at 169. This was on Feb 21 when the price was 184. Since then it made a low at 171, followed by a sharp move back to 188.7 and is now at 179.85.
169 stop is still in force and I would even hold for 165. The reason for these deepish stops, if you go back to the chart, is that this stock is in a strong up-trend since May last year on daily, weekly and monthly charts.
If one is in a trade in such a counter, it pays to loosen the stops to accomodate the usual fluctuation, or 'noise' while it deals with some choppy weather while consolidating/pulling back after hitting all time highs.
Your info on the fundamental strength of the company is clearly reflected in the charts. It would eventually move in the direction of your trade.

Once you get on with your study of TA and make it your basic system to navigate the markets, you'l note that the chart factors in everything. Fundamentals for us is the backstage activity. It’s the reaction to fundamentals that is captured in the charts. We don't normally see a stock with strong earnings trade lower, do we.

For now, from 179 cmp, the levels to watch for are 189-195-201-207.
207 was the highest close. Above this, 213-220-227 appears to be the first line. Track and update when you need to.
The wider markets hold the key for now and i's getting quite choppy. Take an appropriate stop in a falling market. An entry could be made again. That would be an important lesson to begin with.
All the best.