Doubt Relief !!

[karthikmarar]

Karthik,

Can you sugggest what to do with Phoenix Lamps?
Its rangebound b/w 92 and 95.

Should I hold or sell?

Thanks
Prashanth

Dear Prashanth

Phoenix lamps is still in the up move. Of late it has lost the momentum and is stalling a little. Current movement is sidewyas. Just coming out of the overbought region in the weekly.It should resume the upward journey soon. we are safe as long as this keeps above 89. Below 84 is dangerous territory.
In my opinion it is a hold. We have to have little patience.with this one.

regards

Karthik

 

[karthikmarar]

Dear Karthik,
Please advice regarding these scrips I am holding:-

1) Hyderabad Industries CMP 528/-.The volumes are very less in this and it is just moving very quietly. But I feel the resistance is at 520-530 range and crossing that it can climb till 580.

2) Ultra tec CMP 461/-. same story like hyderabad ind, Not high in volumes right now and moving quielty. and not able to understand exactly what trend it is forming from the charts.need to stay above 480 for a new trend to form.

3) TVS Suzuki CMP 102/-. Need advice how to operate with this. Feel like it is forming a upward trend and can go till 110. What do suggest?

I could be very wrong in my observations, please correct me. I am trying to learn to read charts.
What do advise for these scrips.

Thanks a lot,

Regards,

Dear Chopra

It is very nice to see more and more people looking into charts and analyze. Now let us look at the stocks.

Hyderabad Industries

You are correct. This one has started an up trend. But has stalled around 520-530. Somehow this has stalled at a minor resistance around. 525. The volume has been coming in. The 3 DMA has crossed above the 13 and 30 day DMA. The 13 DMA is about to cross the 39 DMA. Soon it should resume its up trend. Also check out ..there will be tough resistance around 555-560. Above this we should see 600.

Do you use the ADX indicator? This gives a good idea of the trend movement.. I am enclosing my chart for you to compare notes. Note the +DI line and DI line and ADX line moving parallel showing side ways movement. A rising +DI line would indicate coming bullishness. And when the ADX line also starts rising it would indicate strengthening of the bullishness. Nice going chopra. Keep studying the charts and it will make you better and better.

Hope this helps. Views on Utratec and TVS Suzuki will follow soon . Please bear with me till then.

Regards

Karthik

 

[karthikmarar]

Dear Karthik,
Please advice regarding these scrips I am holding:-

2) Ultra tec CMP 461/-. same story like hyderabad ind, Not high in volumes right now and moving quielty. and not able to understand exactly what trend it is forming from the charts.need to stay above 480 for a new trend to form.

3) TVS Suzuki CMP 102/-. Need advice how to operate with this. Feel like it is forming a upward trend and can go till 110. What do suggest?

I could be very wrong in my observations, please correct me. I am trying to learn to read charts.
What do advise for these scrips.

Thanks a lot,

Regards,

Dear Chopra

Ultra tech cements

You are absolutely correct. This has to convincing cross 480 in order to have any uptrend. Currently moving sideways. The bias is bullish but strong enough to keep it from falling. Do look at the Directional movement Indicators ADX. The +DI and Di line the story check it out.

I do not know your entry price ad your objective. I would give it a chance to take out 480. If it does not then you can expect some sideways movement. Then may be you could take your profit and move to some other stock. I do see some bullishness coming in soon. So give it a chance.


TVS Suzuki

It is already in the up trend.. The uptrend was confirmed when it took out 94. Right now stalled at the resistance at 103. If this crosses 104 with good volume then it will see new highs. Heavy profit booking today is quite evident from the increased volume. The trend is still bullish. As long as we keep above 95 we are safe. 91 would be stoploss if already in.

Hope this helps

You are doing well. Keep going. Do look at the resistance and support lines.

Regards

Karthik

 

[paragbhujbal]

hi everyone...
i am new to this site. infact i am new to technical analysis, though i have been doing a lot of fundmental for the past 15 years.... what i have now realised is that fundamentals are only fundas.... mkts don't move as per them....would like to learn a bit from you guys..... bye and we shall be in touch......

 

[trading_learner]

Dear Karthik,

Few days back I asked about Sujana Metal Products. For the last 15 days it was moving around 66-62. To-day it made a huge increase of 17%. I dont know whether this increase was driven by any news item etc. But if we see the trend, daily closing price for the last few days took a shape of something like 'Bow'. Could anything be predicted from this trend of last few days? I mean if similar thing happens again? Normally this jump comes after a short/long consolidation phase, in tose cases trend looks near to a straight line and the Bollinger Band gets narrowed.

Regards,

Trading Learner

 

[karthikmarar]

Dear Karthik,

Few days back I asked about Sujana Metal Products. For the last 15 days it was moving around 66-62. To-day it made a huge increase of 17%. I dont know whether this increase was driven by any news item etc. But if we see the trend, daily closing price for the last few days took a shape of something like 'Bow'. Could anything be predicted from this trend of last few days? I mean if similar thing happens again? Normally this jump comes after a short/long consolidation phase, in tose cases trend looks near to a straight line and the Bollinger Band gets narrowed.

Regards,

Trading Learner

Trading learner

I checked for news regarding this. Could not find anything. Anyway the market manipulator get the news first. We small investors are the last to get the news. Maybe we will hear something tomorrow.

The pattern noticed by you is mere coincidental only. This pattern is not a TA recognized one. mere cincidence only.

Yes... normally breakout are after consolidation. This one was actually in an uptrend. Todays move confirmed the uptrend.This will face resistancs at 77-78. Further will around be 90.

regards

Karthik

 

[Dasarp]

Hi Karthik
could you suggest any stock within the range of rs 80 to 150 for sort term

 

[anilsharjah]

Dear karthik,

Can I book profits in GE Shipping (bought at Rs 191/), Cipla ( bought @Rs 384 ), or can I wait a little longer?


ANIL KUMAR

 

[karthikmarar]

Dear karthik,

Can I book profits in GE Shipping (bought at Rs 191/), Cipla ( bought @Rs 384 ), or can I wait a little longer?


ANIL KUMAR

Dear Anil Kumar

Nice entry in both. Technically both are in up trend. Rising ADX shows strengthening bullishness. For GE shipping The uptrend remains as long as it remain above 219. For cipla the uptrend remains in force as long as it keeps above 395. Both are set to move up further. GE shipping may see a small correct as it is currently in th overbought region. Ofcourse the overallmarket condition will reflect on individual stocks. Today we could see buying supports at lower levels. Hence no reason to be alarmed yet. I know many investors are apprehensive of a correction and want to lock in their profits.
In my opinion both your investments are good and are currently bullish. My recommendation would be to Hold and try to get the maximum of the trend. Work with trailing stop loss and limit the loss in the profit. Thereby you are giving yourself a chance to profit more.

regards

Karthik

 

[anilsharjah]

Dear Anil Kumar

Nice entry in both. Technically both are in up trend. Rising ADX shows strengthening bullishness. For GE shipping The uptrend remains as long as it remain above 219. For cipla the uptrend remains in force as long as it keeps above 395. Both are set to move up further. GE shipping may see a small correct as it is currently in th overbought region. Ofcourse the overallmarket condition will reflect on individual stocks. Today we could see buying supports at lower levels. Hence no reason to be alarmed yet. I know many investors are apprehensive of a correction and want to lock in their profits.
In my opinion both your investments are good and are currently bullish. My recommendation would be to Hold and try to get the maximum of the trend. Work with trailing stop loss and limit the loss in the profit. Thereby you are giving yourself a chance to profit more.

regards

Karthik

Dear Karthik,

Thank you again for your detailed explanation . I purchased 1600 shares of HINDALCO @ 124 . What will be the impact after the right issue ?.

Regards
anilkumar ,Sharjah