Bomdyeing And Gammonind

AMITBE

Well-Known Member
#1
These two have also been in the list and have holding in Bombay Dyeing.

Bombay Dyeing has been beaten down since April 1 where it closed at 369 after a 380+ intra day high. It was down at about 300 in recent days and has been jumping around ever since, with at times big volumes.
Today it closed at 325.95 with intraday high of 329.95. Now, 330 is its 50 DMA, and it is above its 200 and 20 DMA.
As today's volumes were big, this scrip could well be staging a come back. Its results were not liked by the market despite a good divident, has large real estate holdings, part of which are on the block to over ride some financial difficulties. It also has plans for revamped retailing, and there was some news of some foreign collaboration, I can't seem to remember exactly what. It's a premier textile company, and obviously has investers' faith, though there was profit booking at every rise today. You may want to observe this scrip in the coming days. Tends to jump many Rupees while in rally, unlike the painstaking movement of Arvind and Alok!

Gammon India is in major construction and civil contracting. Following the stock split at 1236, and the new price of about 260, it has been range bound
over the last few weeks and has once tried to break 301. Today it again gave a breakout closing at 296.80 while again trying to charge 301 level intraday with ok volumes. Obviously has resistence around 305, and at a higher close than 305, could get into a great rally. Watch this scrip.
Could the seniors comment....Traderji, please?
Thanks.
 
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AMITBE

Well-Known Member
#3
Hope some people made it to Bombay Dyeing. There is more upside yet...possible correction as it has been on the run a few days. Suggestion is to stay invested.
Observe Gammonind touched 305 and slipped again. Another attempt with volumes could see it on its way. Keep it on watch list for sure.
 

AMITBE

Well-Known Member
#4
If anyone went for Bomdyeing, at 352 levels may not have a lot left for now. I have exited here. There has been some speculative buying in this counter based on news of real estate values surging in Mumbai. There could be some intraday chances but nothing in the scrip itself for now I feel.
Gammonind is waiting to go from current level of 270, and from its patterns of the past 2 weeks, it should be testing 300 again soon where it has twice returned from. It has a great potantial ahead well over 300. Do keep watch if interested.
Another scrip Century Textiles, 271, seems to be awaiting a sharp move up again. Recently has been trading in 265-275 range, having twice charged 279 intraday, the maximum so far. Has been attracting a fair amount of volume too. Soon a break past that seems imminent. Then it should head onwards towards 300 plus.
 
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#5
AMITBE said:
If anyone went for Bomdyeing, at 352 levels may not have a lot left for now. I have exited here. There has been some speculative buying in this counter based on news of real estate values surging in Mumbai. There could be some intraday chances but nothing in the scrip itself for now I feel.
Gammonind is waiting to go from current level of 270, and from its patterns of the past 2 weeks, it should be testing 300 again soon where it has twice returned from. It has a great potantial ahead well over 300. Do keep watch if interested.
Another scrip Century Textiles, 271, seems to be awaiting a sharp move up again. Recently has been trading in 265-275 range, having twice charged 279 intraday, the maximum so far. Has been attracting a fair amount of volume too. Soon a break past that seems imminent. Then it should head onwards towards 300 plus.
Hi amit

I also Invested in both stocks Bombaydying and gammon ind

I booked profit in bombay dying at 342 10 Days back and also
booked loss in Gammon ind I bought it @ 302 level..
and sold it @ 292 Level boz i got the news about decline..
but its strong for long term..

Thanks
 

AMITBE

Well-Known Member
#6
Hi Jaspal,
I am very sure you'll make up your loss on Gammon once it goes past 305. Try to reenter on the rise around 290 as it will try to breach 305, possibly on that day itself. You could always exit at a profit if it fails again. That would be its third attempt and has a good chance of doing it.
Good luck!
 
#7
AMITBE said:
Hi Jaspal,
I am very sure you'll make up your loss on Gammon once it goes past 305. Try to reenter on the rise around 290 as it will try to breach 305, possibly on that day itself. You could always exit at a profit if it fails again. That would be its third attempt and has a good chance of doing it.
Good luck!
Hi amit

Thanks for reply, now how about bombaydying what we have
to Enter wait for another fall?

Amit ru Tech. Annalist..?

Thanks
 

AMITBE

Well-Known Member
#8
Hi Jaspal,
I wouldn't go with Bomdyeing for now. It has rallied around a while now and given the results there cannot be anything in it at this point, perhaps not till the next result season. Only news at this point can move it back up, or it has to cross 355 with volumes for the next rally. The other textile counters like Arvind and Century are taking the flack too. But here you may want to look at Century, the most resilient of the lot. It should be going towards 80 plus in near term.
A few amongst others that I am invested in are IDBI, Cummins and GujratNRE Coke, which I had bottom fished at 103 following the stock split. IDBI and Cummins have good targets to meet. GUNRECOKE is solid at 125 levels currently, but waiting to cross 132 with large volume for the next up. Then there is Bank Of India which met resistance at 112 and back at 99/100 looks solid for the next charge. This was also mentioned by Traderji earlier.
As for tech. analysis, I do use different forms of charting, but in my experience these indicators can go terribly wrong in choppy waters as we are seeing now.
I maintain EOD prices and look closely to moving averages. I also maintain opening/closing prices for the year past and current, then monthly and weekly. In the same way I calculate pivots for monthly, weekly and daily prices.
From all this I try to find the ones with not too much down-side, and take trading decisions from past patterns of the most resilient ones.
But even then, I have learnt the hard way, it is important to check the financial results of the ones I choose. You can find these at the NSE site. Very few scrips with poor or even flat showing can get very far. A case to the contrary is Bank Of India, but it is merely trying to retrace its up move of a few months ago.
That's all....Good luck!
 
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