New Intermed Uptrend!!
- Thread starter Saint
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Hi
For those looking at 3i Info, todays company announcement
3i Infotech Ltd has announced that it has successfully launched and priced an offering of Foreign Currency Convertible Bonds ("FCCB") of $ 50 million. The bonds will be listed on the Singapore Stock Exchange and are convertible over a five years period. The Bonds will be convertible at a conversion price of Rs 230 per share, which is at a premium of 33% to the Company's closing share price on the National Stock Exchange Ltd as on March 02, 2006. The Bonds are convertible into equity shares at the option of the Bond holders. The Bonds are zero coupon and will be redeemable on the expiry of five years at a yield to maturity of 6.8% p.a. Investment Bankers for the issue are ICICI Securities and UBS Investment Bank. Commenting on the recent development, Mr. V Srinivasan, Managing Director and CEO of the Company said, "We believe this is another important milestone in the progress of the Company. The proceeds of the FCCB offering will be used in fueling the expansion plans of the Company in the global markets."
Todays move maybe news driven. However a close above 183 would take it to higher levels. Technically looks good enough to do it..........
regards
Karthik
For those looking at 3i Info, todays company announcement
3i Infotech Ltd has announced that it has successfully launched and priced an offering of Foreign Currency Convertible Bonds ("FCCB") of $ 50 million. The bonds will be listed on the Singapore Stock Exchange and are convertible over a five years period. The Bonds will be convertible at a conversion price of Rs 230 per share, which is at a premium of 33% to the Company's closing share price on the National Stock Exchange Ltd as on March 02, 2006. The Bonds are convertible into equity shares at the option of the Bond holders. The Bonds are zero coupon and will be redeemable on the expiry of five years at a yield to maturity of 6.8% p.a. Investment Bankers for the issue are ICICI Securities and UBS Investment Bank. Commenting on the recent development, Mr. V Srinivasan, Managing Director and CEO of the Company said, "We believe this is another important milestone in the progress of the Company. The proceeds of the FCCB offering will be used in fueling the expansion plans of the Company in the global markets."
Todays move maybe news driven. However a close above 183 would take it to higher levels. Technically looks good enough to do it..........
regards
Karthik
Hi Saint,
If you remember sometime back you had given a call on Shanti Gears. Entered the stock and had 5% profit. When looking at the daily charts the two peaks Rs69.60 & Rs73.50 RSI indicator gave negative divergence and came out at Rs 73. The stock did go down to Rs 69.50. But today the stock is up to Rs79.50. Wanted to introspect my mistake i did in this case. Two things i learned.
a) I did not have put a stop loss. If i had a proper stop loss, i would'nt have lost the chance to make some more money.
b) Did not verify the indicator in Weekly chart. Now i realize that weekly chart did not show any weakness/-ve divergency as daily chart did. So the learning is that it was a temporary weakness which lasted only for a week.
Hope other members can also learn from the mistakes i made.
Another case of wrong indicator signal - RPG Transmission. But there is a reason for the turnaround. The company bagged Rs 1100 million order from Power Grid Corporation of India yesterday. This made the stock boom....20%. Though i still own 50 shares.
Saint, Thanks for the call on Titan. Entered at Rs824. I so obcessed with IndSwiftLab, i cannot stop myself asking again if i can enter it again. What is your take on ITL Ind, Tele Data Informatics, IFCI & Ferr All.
Ferro Alloys i see a +ve divergency in RSI. Also there were roumours in a brokerage firm that the next quarter results will reflect the Platinum deposits finding and the stock will start start it's journey upwards.
Thanks once again for all the efforts you are putting in this forum. Really appreciate.
-Ramesh
If you remember sometime back you had given a call on Shanti Gears. Entered the stock and had 5% profit. When looking at the daily charts the two peaks Rs69.60 & Rs73.50 RSI indicator gave negative divergence and came out at Rs 73. The stock did go down to Rs 69.50. But today the stock is up to Rs79.50. Wanted to introspect my mistake i did in this case. Two things i learned.
a) I did not have put a stop loss. If i had a proper stop loss, i would'nt have lost the chance to make some more money.
b) Did not verify the indicator in Weekly chart. Now i realize that weekly chart did not show any weakness/-ve divergency as daily chart did. So the learning is that it was a temporary weakness which lasted only for a week.
Hope other members can also learn from the mistakes i made.
Another case of wrong indicator signal - RPG Transmission. But there is a reason for the turnaround. The company bagged Rs 1100 million order from Power Grid Corporation of India yesterday. This made the stock boom....20%. Though i still own 50 shares.
Saint, Thanks for the call on Titan. Entered at Rs824. I so obcessed with IndSwiftLab, i cannot stop myself asking again if i can enter it again. What is your take on ITL Ind, Tele Data Informatics, IFCI & Ferr All.
Ferro Alloys i see a +ve divergency in RSI. Also there were roumours in a brokerage firm that the next quarter results will reflect the Platinum deposits finding and the stock will start start it's journey upwards.
Thanks once again for all the efforts you are putting in this forum. Really appreciate.
-Ramesh
Hi Abhijit,
SAIL:We may ,as you had mentioned,see higher prices.But we are at an area of resistance again,around 67-69.The question is if you have the patience to sit in this range for more time to come.If yes is your answer,raise your stops to 52.If you are hit by the impatient bug,and your frustration and boredom levels are soaring to new highs,thinking about how much more your money would have appreciated in some other stock during the same time frame,raise your stop to last week's low of 62.If it doesn't take it out,great.If hit,get out.
You are right either way,depends on your personality.On the steel front,Tisco on a pullback is looking better than sail.
TCS :looking great on the weekly charts for higher prices.If in,HOLD on to it.If not in,stalk it for an entry.Stop of 1655.Things look like a false up move below those levels,so don't tolerate a loss more than the 1655 area.
All the best on the PNB,so far so good.
Happy Trading!
Saint
SAIL:We may ,as you had mentioned,see higher prices.But we are at an area of resistance again,around 67-69.The question is if you have the patience to sit in this range for more time to come.If yes is your answer,raise your stops to 52.If you are hit by the impatient bug,and your frustration and boredom levels are soaring to new highs,thinking about how much more your money would have appreciated in some other stock during the same time frame,raise your stop to last week's low of 62.If it doesn't take it out,great.If hit,get out.
You are right either way,depends on your personality.On the steel front,Tisco on a pullback is looking better than sail.
TCS :looking great on the weekly charts for higher prices.If in,HOLD on to it.If not in,stalk it for an entry.Stop of 1655.Things look like a false up move below those levels,so don't tolerate a loss more than the 1655 area.
All the best on the PNB,so far so good.
Happy Trading!
Saint
rajesh.sadhanala said:
Excellent call on Titan Saint. I exited at 865. It seems that they was a huge rally and it seems that it going to continue. But I saw there is a resistance on 866 to 870. Once if it crosses that then it looks upward trend. I just analysed through Metastock of Indiabulls.
Please tell me that my study is going proper or not. I need a feedback from u.
Thanks a lot for educating us Saint. Didn't looked PNB at all coz tough to track two things
. Had to pay tution fee to u
Raj
Please tell me that my study is going proper or not. I need a feedback from u.
Thanks a lot for educating us Saint. Didn't looked PNB at all coz tough to track two things
. Had to pay tution fee to u Raj
This close at the 861 area is a sign of strength,intraday rip through to new all time highs is a sign of strength and taking out the previous pivot high with increased volumes is a positive sign of further moves up.
As you are playing the intradays,keep a watch on this stock and stalk an entry on a pullback.Think that there's much more money to be made on this one on the long side.
Saint
Hi Ramesh,
Been a long time of silence,my friend.
Your introspection is correct.If you had adhered to trailing stop losses method,you would still have been in.And yes,always check out the weekly for some sort of verification.
Just to run you thru the trade on the daily charts again :
We got the breakout on Jan 10th,our stop is a bit below the previous pivot low,56.After that we got a pullback to 61.6,what do we do?Nothing.Our stops are not triggerred,our targets not achieved,so we do nothing.Then till Jan 30th,we get another rally.Do we take out previous highs,NO.So we don't get to raise our stop losses.Then another pullback to 62.3,what do we do?Nothing,our stops are not triggerred,our tgts not achieved.Now we get another mild rally to 72 which is a higher pivot high as compared to the previous pivot.So we get to raise our stops to a bit below the prev pivot low i.e 65.Then we make new highs on Feb 21st,we now raise our stops to 66.5.Then again another downward move,but stops not triggerred,we're still in.Now we get a big move up on nice volumes to 79,raise stops to 68..............in short be prepared to risk losing 79 to 68 in order to stay in the trade for even greater gains.
Shall answer the rest later!
Time for some caffeine,all the best!
Saint
Been a long time of silence,my friend.
Your introspection is correct.If you had adhered to trailing stop losses method,you would still have been in.And yes,always check out the weekly for some sort of verification.
Just to run you thru the trade on the daily charts again :
We got the breakout on Jan 10th,our stop is a bit below the previous pivot low,56.After that we got a pullback to 61.6,what do we do?Nothing.Our stops are not triggerred,our targets not achieved,so we do nothing.Then till Jan 30th,we get another rally.Do we take out previous highs,NO.So we don't get to raise our stop losses.Then another pullback to 62.3,what do we do?Nothing,our stops are not triggerred,our tgts not achieved.Now we get another mild rally to 72 which is a higher pivot high as compared to the previous pivot.So we get to raise our stops to a bit below the prev pivot low i.e 65.Then we make new highs on Feb 21st,we now raise our stops to 66.5.Then again another downward move,but stops not triggerred,we're still in.Now we get a big move up on nice volumes to 79,raise stops to 68..............in short be prepared to risk losing 79 to 68 in order to stay in the trade for even greater gains.
Shall answer the rest later!
Time for some caffeine,all the best!
Saint
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