Some Good Steals...

nilesh78 · #**3281** 20th March 2006, 06:50 PM

hi Amitda,
need your views on Ranbaxy labs. This scrip is moving downwards now days. may be because of law suits which they are losing.
I would like to know your view on Ranbaxy . Can enter in this scrip with CMP 402 or should i wait for some more downfall in the same.

Regards,
Nilesh

vizzie · #**3282** 20th March 2006, 09:25 PM

Quote:

Originally Posted by AMITBE

Hi Hari...resistance levels are where the price halts in an upmove. Similarly the levels where falls are arrested are supports. An earlier resistance often acts as a support later at a pullback, and a support when breached would become a resistance coming back up.
Resistance levels are above current price, and supports below.
The various levels mentioned by you are quite correct.
At 160 now, the crucial support is around 150 and tecnically for an entry here, this would also be s/l.
To the up, past 175, a likely major resistance is around 180 levels. This can clearly be seen in the weekly chart too, and as the weekly chart frequently depicts important levels, this 180 resistance is seen as a major one.
Further up are 195-198-204, all of which also exist on daily, weekly and monthly charts.
As and when the trend turns direction, we'd be looking at the above levels to to see how much pressure these would exert on price action, which in turn would be governed by the weight of volume and the strength of the momentum.
Do track it closely and observe what happens.
It's always great to see the learning process going on Hari, keep it up.
Bye for now.

Hi Amitda !!

Very nicely explained..
just a little doubt..
could figure out 195-198 as u said..
but couldn't quite get 204 on the monthly..
could u just elaborate a little..

cheers

vizzie

AMITBE · #**3283** 20th March 2006, 11:36 PM

Quote:

Originally Posted by vizzie

Hi Amitda !!

Very nicely explained..
just a little doubt..
could figure out 195-198 as u said..
but couldn't quite get 204 on the monthly..
could u just elaborate a little..

cheers

vizzie

Hi Vizzie, this is what you are querying?: "Further up are 195-198-204, all of which also exist on daily, weekly and monthly charts."
204 is in the weekly charts. The others are on monthly as well.
Wrote them all in one sentence, Vizzie. Perhaps should have written "daily and/or weekly and/or monthly charts"?

Regards.

tusharc · #**3284** 21st March 2006, 12:08 AM

Dear Amit,

Please give me your view on Vishal Exports. What do you think about this share in near future.

I am having a loss on this counter around 26000 rs.

My average cost price is 6.70

thanks in advance

Tushar

hardikbarchha · #**3285** 21st March 2006, 12:39 AM

Hi,
It was gr8 watching some good tips frm u..
cud u plz guide me for Western India Ship Yard .. (I hold 800@Rs. 11/--), BSEL Infrastructure (800 @ Rs.51/--)
thanx..

vizzie · #**3286** 21st March 2006, 01:11 AM

Quote:

Originally Posted by AMITBE

Hi Vizzie, this is what you are querying?: "Further up are 195-198-204, all of which also exist on daily, weekly and monthly charts."
204 is in the weekly charts. The others are on monthly as well.
Wrote them all in one sentence, Vizzie. Perhaps should have written "daily and/or weekly and/or monthly charts"?

Regards.

Hi Amitda !!

oops.. my mistake.. shld hv got it earlier..
thought 204 was only on monthly..
thanks for clarifying..

cheers

vizzie

AMITBE · #**3287** 21st March 2006, 10:45 AM

Quote:

Originally Posted by nilesh78

hi Amitda,
need your views on Ranbaxy labs. This scrip is moving downwards now days. may be because of law suits which they are losing.
I would like to know your view on Ranbaxy . Can enter in this scrip with CMP 402 or should i wait for some more downfall in the same.

Regards,
Nilesh

Hi Nilesh...Ranbaxy looks prettey sad. There have been the law suits of course, and technically it's been whacked by an extended h&s that can be seen on daily,weekly and monthly charts.
The tip of the head is 630 area in December '04. The right shoulder breakdown is in 440 in Oct '05. An attempted pullback failed at 450 area late Feb now.
Cannot say where it'll stablise.
In a market like this it would make more sense to look for stocks with bullish tendencies and promise in favoured sectors, rather than guessing at a bottom on an under performer.
Do track several stocks that have moved strong lately for a pull back to enter. Will be happy to give feedback on anything you bring up.
All the best.

dinkerj · #**3288** 21st March 2006, 10:51 AM

Quote:

Originally Posted by AMITBE

Hi Ashish...thanks for sharing that lovely peice with us, and may every word there be blessed.

You'd asked for something in English, so these translations are two important views from two masters: Maulana Jalauddin Rumi, a Sufi saint from Persia, and Khalil Gibran a Lebanese philosopher and artist:

Blessed Marriage, Rumi.

May these vows and this marriage be blessed.
May it be sweet milk,
This marriage, like wine and halvah.
May this marriage offer fruit and shade
Like the date palm.
May this marriage be full of laughter,
Our every day a day in paradise.
May this marriage be a sign of compassion,
A seal of happiness here and hereafter.
May this marriage have a fair face and a good name,
An omen as welcome
As the moon in a clear blue sky.
I am out of words to describe
How spirit mingles in this marriage.

Gibran on Marriage

Then Almitra spoke again and said, "And what of Marriage, master?"
And he answered saying:
You were born together, and together you shall be forevermore.
You shall be together when white wings of death scatter your days.
Aye, you shall be together even in the silent memory of God.
But let there be spaces in your togetherness,
And let the winds of the heavens dance between you.
Love one another but make not a bond of love:
Let it rather be a moving sea between the shores of your souls.
Fill each other's cup but drink not from one cup.
Give one another of your bread but eat not from the same loaf.
Sing and dance together and be joyous, but let each one of you be alone,
Even as the strings of a lute are alone though they quiver with the same music.
Give your hearts, but not into each other's keeping.
For only the hand of Life can contain your hearts.
And stand together, yet not too near together:
For the pillars of the temple stand apart,
And the oak tree and the cypress grow not in each other's shadow.

Best wishes again, Ashish.

Amit, just curious.
Your id is AMIT BE, so I thought you were engineer.But today I am forced to think, you have got a masters degree in English.
Which one is correct?

AMITBE · #**3289** 21st March 2006, 11:23 AM

Quote:

Originally Posted by chopra

Thanks a lot amit for your advice.
GSPL I will be watching it.
Poineer Invest I am still holding as it has tested 40 today.

Any advice for Tata steel, still holding.

Take care.

Hi Ashish..Tata Steel don't know where you entered.
It's broken above a long term ranged move and should be a hold for now.
Depending on your entry, good supports are at 445-450 and 465 should also be good. If in from lower, watch these levels.
At 473 now, closing above 480 may likely test 487-494-500 if the markets hold good for a little longer.
Do track and update when you like.
All the best.

chopra · #**3290** 21st March 2006, 11:56 AM

Quote:

Originally Posted by chopra

And Tata steel @351 CMP 467/-. Is it time to book profit.

Thanks a lot.
Regards,
Ashish

Thanks for your advise as always. I am keeping a hold on tata steel.
One more thing I am holding Hindalco also.
Hindal@125 CMP 163, it looks likes breaking the 160-165 range and may move forward. What do u suggest?

Regards..

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