Some Good Steals...

Hi Amit
I am new to this forum. have joined it less than a month back. But I found this site a real blessing. I have learned something and hope to learn a lot. there is so much to learn just following your threads..you , Saint and a lot more.
Regarding your comment on "some one commenting....People coming only to make some quick bucks", I won’t deny that it was the reason I was surfing the net for, to get that magic wand when I came across this site.

This is a place which I consider worth spending time. May God keep you gurus motivated enough for the great work you are doing.
And yes I have started doing some trading too, picking some tips and my whatever reasoning I could put into it,...started with a win( the beginners luck...may be).

***** (5 Stars) to this site and the members.


Best regards
Coool

The above call on Solectron Centum is from March 10.

It's an elctronics company designing and manufacturing special hybrid microcircuits etc, and technology for defense, aerospace and the automotive industry.

Do have a look at the attached daily chart for the following explanation.

On March 10 it had opened at 273, made a high at 292 and closed 289. It didn't manage to close above 293.
The next day, it made another wide range bar, opening at 294, high 298 and closed 282.
Obviously a false breakout, and couldn't break past the top supply line at 307, which I had expected it to do.
It made a sharp pullback, and broke below the important support line at 269, which was the suggested stop then.
Another stop lower down, with hindsight, could have been at 256 area, but I didn't want to go with that because, as seen in the chart, the previous time it tested 256, it broke below it, and also broke below the Trendline (A). It had tested the base support line at 225 then.
However this time in the downwards move, it did test 256 and survived, without breaking the Trendline (B).
Do observe that Trendline (A) and Trendline (B) are near parallel lines, interestingly, also suggesting a balance and symmetry about the chart in terms of trends and pullbacks in either direction. For this reason 256 was not suggested as a stop when first called.
On March 23 the price tested 256 and made an upwards pullback.
On March 30 the close was at 294.80, after testing 303.
This time the close was above 293, where the earlier call came back into play.
On March 31 there was a gap up opening at 298.70, high was 334 and closed at 321.
The breakout is confirmed this time with a sharp spurt in volume.

307 is a critical area to watch today, as, while falling below this would not quite negate the move, but could well delay the upside. It'll remain bullish above this level.
Should the market open firm to flat, a good chance the move would continue.
If the market opens weak, 307 may be tested...but not certain. The move appears to have strength.

At cmp 321, 289-292 are suggested stops as of now, being tight to protect against market turning weak.
The earlier suggested stop at 269 is good too, if sharply volatile market is to be accomodated.

The longer term estimated target would be around 409.
This is how it was computed:
In the chart the lowest mark after testing 307 in the past is at 205. The distance between the two levels is 102.
Add 102 to 307, we get 409.
Theoratically, the next move up beyond 307 would cover an equal distance to where it had dropped to after testing 307 in the past.

To look for entry, a few likely supports below cmp 321: 315-307-299-291.
Likely levels immediately to the up are 327-331-335-339-343-347.

Thanks and regards.

Attached Images

SOLECTRON CENTUM.jpg (83.4 KB, 33 views)

hey rahul,
my personal opinion:
do start with Candlesticks at the earliest. once u get the hang of it. Other things fall in line pretty quickly.
regards
and u have got damn good book , further buy greg morris also if so inclined (at ebay.co.in)

Hi Amit,

I haven't bugged you a long time with my TA questions. That's because i am in US and dont get much time to trade and do TA. Won't sapre when i come back

Just wanted to say a hello to You and fellow members of traderji. Whatever happens I squueze out some time to read your thread. Great effort man .. keep it going.

Meanwhile my portfolio is doing just fine and appreciated over 25% in 3 months. Thanks for all your help and support.

Have a good day, Cheers !!
-Partha

Hi AMITBE & all fans of this thread (like me),

A Chocolate is very tasty, the more one takes it, the more he feels like having. It may spoil the teeth, but still it is very tasty. Once the boy is addicted, when he is not given the Chocolate on demand, he becomes unmanageable. Further, as he grows up, realising the reason behind his decayed teeth, he may blame everbody for feeding him with too much of chocolate!

On the contrary, dal-roti may not be that tasty, but a staple food; you become stronger, heathier, happier and wealthier too in the long run.

This is not an out-of-place posting. I am referring to this thread.. AMITBE has been mentioning of some changes in the thread quite for some time and I have been waiting for some formal announcement by him. If this is the change in format he has in his mind, I feel, it is a welcome sign. I wish the stocks selected to showcase are traded in both NSE & BSE in good volumes, so that the benifit goes to all.

I was taking about 2 minutes to read your earlier posts on an avrarage, but this post took about 30 minutes. At the end of it, i felt, I had a sumptuous meal of dal-roti and became stronger too. Now my mind goads me to probe & identify stocks with a similar pattern.

Not to miss the main issue of interest to any investor, the stock has peaked to +4.6 % today & with a last quote at -0.16%. The selection being based on fundamentals of technical Analysis, I hope happier days are ahead to this stock and also to this thread.

Thank you for your continued commitment to educating the investor.

murthymsr

Hi Amit,

how are you. Thought of shooting u a question after a long time. If you could see the charts of Riddhi Siddhi. 524480. Do you think it is forming a cup with a handle. it is too early and i know we should not predict till it forms it but so far looks like it. Also if u see Ratnamani metals i saw the MACD and i saw a divergence and hence the price fell then. Its again on a recovery now. just want to see if i read it correctly. pls confirm at your convience.

Rgds
Rahul

Hi Amitbe.
Needed your advice on prism cement. I entered this share at 24, currently it's trading at around 34.Should I exit or still hold on..please to advise.thanking you in advance.

Dera Murthygaru, thanks very much for your kind words...I really enjoyed the allegory of the chocolate and the daal-roti.
Yes, at this point I'm feeling a bit of a burnout, and so have not been doing a lot here. I need time and energy to carry forward my own learning, and there are other commitments and interests which I have been neglecting for quite some time.
There are some great helping hands like Saint, Karthik and a new member vvonteru is running a top rate thread, so this is a good time for me to withdraw from actively running this thread.

From time to time I will continue to post here, as I did on Solectron Centum to better illustrate buy calls.
As for Solectron, holding above the supply line at 307 it remains in bullish territory. Also note, it's come up in one uninterrupted move from 270 levels to break above the supply line. It may drift sidewards a bit before picking up again. The call is on according to the levels suggested.

Thanks and utmost regards.

Another strong counter called here in the past and taken profits couple of times is Unichem Labs.

Has been consolidating well without violating 289.
Yesterday broke above the descending triangle, and now at 312. This is above 20, 50 and 200 day SMA.
Some can be bought now above 305-309, and rest above 322-329.
Stop at 289.
Expected target is 380 first.
The two charts attached are details.

Needs more volume to push it past 316-320-324-328-332 where should turn quite bullish. Above 340 seems a clean run.
Keep an eye on the markets too.

Attached Images

	Unichem Labs Daily.jpg (44.3 KB, 35 views)
	Unichem Labs Weekly.jpg (28.8 KB, 25 views)

[quote=AMITBE]The above call on Solectron Centum is from March 10.

Hello Amit,

Thanks for this Great post filled with knowledge.

Greaves doing very well.....Thanks.

Regards

Roneeth