Some Good Steals...
- Thread starter AMITBE
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Hi all,
Today appears as if we are heading into an extremely choppy session. This is on account of the ONGC fire, the expiry of F/Os, and some disappointing results in the view of the market.
The ONGC situation is unclear yet, and how long it will be before the supply is fully restored, and how this is going to impact the petro/refinery/gas related counters is the primary concern.
With the F/Os closing today, the fight between the Bulls and Bears is likely to be intense. The bears, already gravely threatened in this bull-run, will do everything possible to bring selling pressure on the market. The bulls at this time have everything to gain, and will use their enormous clout to neutralise the bears.
The bears will obviously get a good leverage from the index heavy ONGC, and other related counters and here, despite good results, GAIL, which has been bullish lately may come under pressure. TISCO is already vulnerable as is Ranbaxy. Other counters like Sail, Bajaj Auto, and Tata Motors too are likely to be under fire.
On the up-side, there are several index heavy counters that have been bullish, and on the back of good results, there is likely to be strong support for them from the bulls who have plenty to choose from. I see good action in Infosys, SBI, PNB, M&M, and if the bulls mean business, Bharti, Dabur and even HindLever can clock gains. Tech stocks did well in the US markets yesterday, so hopefully Infosys, Wipro, TCS, HclTech, Satyam may all come to the rescue. FMCG major ITC is expected to come with good results, so there is hope from there, and RIL is also there as a heavy.
So all in all, things seem very interesting.
In the bull/bear tussle, the Midcaps again are likely to remain flat except selected counters. This should change next week, is my strong feeling, as the money will return from the bigcaps to some great picks that have remained neglected in this segment.
Im cautious today, and will wait it out to see which way things will go. Even so, my eyes are on HindLever which I have been calling while it was consolidating at 158 off levels. Now at 164 off, this has a good chance to benefit, and needs to close above 166-168 for a jump to 180.
I had called MRPL the other day. If anyone has position, watch sharp, and if it seems weak, seek to exit as there may be chances again later at lower levels.
Trade with caution and good luck.
Today appears as if we are heading into an extremely choppy session. This is on account of the ONGC fire, the expiry of F/Os, and some disappointing results in the view of the market.
The ONGC situation is unclear yet, and how long it will be before the supply is fully restored, and how this is going to impact the petro/refinery/gas related counters is the primary concern.
With the F/Os closing today, the fight between the Bulls and Bears is likely to be intense. The bears, already gravely threatened in this bull-run, will do everything possible to bring selling pressure on the market. The bulls at this time have everything to gain, and will use their enormous clout to neutralise the bears.
The bears will obviously get a good leverage from the index heavy ONGC, and other related counters and here, despite good results, GAIL, which has been bullish lately may come under pressure. TISCO is already vulnerable as is Ranbaxy. Other counters like Sail, Bajaj Auto, and Tata Motors too are likely to be under fire.
On the up-side, there are several index heavy counters that have been bullish, and on the back of good results, there is likely to be strong support for them from the bulls who have plenty to choose from. I see good action in Infosys, SBI, PNB, M&M, and if the bulls mean business, Bharti, Dabur and even HindLever can clock gains. Tech stocks did well in the US markets yesterday, so hopefully Infosys, Wipro, TCS, HclTech, Satyam may all come to the rescue. FMCG major ITC is expected to come with good results, so there is hope from there, and RIL is also there as a heavy.
So all in all, things seem very interesting.
In the bull/bear tussle, the Midcaps again are likely to remain flat except selected counters. This should change next week, is my strong feeling, as the money will return from the bigcaps to some great picks that have remained neglected in this segment.
Im cautious today, and will wait it out to see which way things will go. Even so, my eyes are on HindLever which I have been calling while it was consolidating at 158 off levels. Now at 164 off, this has a good chance to benefit, and needs to close above 166-168 for a jump to 180.
I had called MRPL the other day. If anyone has position, watch sharp, and if it seems weak, seek to exit as there may be chances again later at lower levels.
Trade with caution and good luck.
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Something cooking strange...NIFTY has dropped from 2332 almost 25 points within 15 minutes. At 2309 now, and hope 2306 is not broken.
Could be a free fall back to 2280 if it does.
Hovering at 2309-2311 and hope manages to keep above this.
A lot of the great gains in a lot of scrips are nearly lost.
Do pick up HindLever now at 166 off!
Could be a free fall back to 2280 if it does.
Hovering at 2309-2311 and hope manages to keep above this.
A lot of the great gains in a lot of scrips are nearly lost.
Do pick up HindLever now at 166 off!
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Hi all,
From the Friday session, it appears as if the ONGC fire, and the Mumbai rains have been factored in by the market. ONGC seemed very firm all day at 934-938 despite a very early dip to 906. I feel it should trade firm again on Monday in the 950-960 band after a possible early dip again. Should this happen, along with the good results in most weighted counters, it would lead to a positive sentiment for the week, any corrections that would inevitably come, notwithstanding.
The issue of the negative advance/decline ratio is however a niggling concern, as is the flat midcap segment. The spookiness here was evident by the way in which the selling pressure came in the last half hour even in the normally steady scrips. Most gains were quickly lost and a lot even slipped lower than previous close. Only the very bullish remained somewhat firm.
However, should the money come back to the midcaps at some point, there could be many good picks at great prices.
Here Im going back to the list I have been discussing, as a lot of them slipped Friday afternoon.
HindLever looks like a good pick at 166 off. If it can cross 172-175, will look to the 185 mark in the short term. Try to pick at some intraday dip, perhaps 163-164.
Dabur slipped to 145 off and is a pretty decent and defensive buy here considering it has tested 160 recently, and it should be heading there in the near term. Try to pick at 143 if it declines intraday.
IDBI is good at 110 for 125 near term. It has consolidated well at 113.
IndBulls is still a good buy according to me, looking at its movement. It closed 256, intraday 271. It may spend some time consolidating around 260-265 levels. Try to take it at current close if possible, though I expect it to open high. The target is 300 near term.
NTPC is very good at 93-94. I see this closing in on 105 near term.
CentTextile slipped rather sharply to 296 from 315. Watch this for strength, and should be heading to 315-320.
Arvind Mills is down at 128 off and at a close above 133 will test 140 where it has been a few weeks ago. Past 140, looking at 150 plus.
A few good scrips I have not discussed before are SRF, APTECHT and VOLTAS.
SRF has been slipping sharply the last few sessions, and has come down to 260 after hitting 291 recently. A great buy around current levels, the target is 310 in near term.
APTECHT has had a lot of bulk deals in the 92-95 range from institutional buyers recently. It is a great buy at the current 80 mark. Look for signs of strength to enter, as it has been slipping sharply too. May take a while but the target is 110 near term.
Voltas is not a very liquid scrip. Closed 245 off, and a good buy around here. At a close above 251, would be good for 265 plus. This has been waiting for a break out for some time. Ill update on this again.
A few likely intraday plays for Monday which I will update after observing early trading:
Bank Of India: Try to pick at 140 moving up for 145-147.
HindLever: Try to pick at 162 on the up for 166-168.
IndBulls: Try to pick on the up at 263 for 270. Be careful with this.
Arvind Mills: Try to pick at 130 on the up for 135.
Dabur: Try to pick at 142 on the up for 147.
Voltas: Try to pick at 242 on the up for 248.
So much for now.
Thanks.
From the Friday session, it appears as if the ONGC fire, and the Mumbai rains have been factored in by the market. ONGC seemed very firm all day at 934-938 despite a very early dip to 906. I feel it should trade firm again on Monday in the 950-960 band after a possible early dip again. Should this happen, along with the good results in most weighted counters, it would lead to a positive sentiment for the week, any corrections that would inevitably come, notwithstanding.
The issue of the negative advance/decline ratio is however a niggling concern, as is the flat midcap segment. The spookiness here was evident by the way in which the selling pressure came in the last half hour even in the normally steady scrips. Most gains were quickly lost and a lot even slipped lower than previous close. Only the very bullish remained somewhat firm.
However, should the money come back to the midcaps at some point, there could be many good picks at great prices.
Here Im going back to the list I have been discussing, as a lot of them slipped Friday afternoon.
HindLever looks like a good pick at 166 off. If it can cross 172-175, will look to the 185 mark in the short term. Try to pick at some intraday dip, perhaps 163-164.
Dabur slipped to 145 off and is a pretty decent and defensive buy here considering it has tested 160 recently, and it should be heading there in the near term. Try to pick at 143 if it declines intraday.
IDBI is good at 110 for 125 near term. It has consolidated well at 113.
IndBulls is still a good buy according to me, looking at its movement. It closed 256, intraday 271. It may spend some time consolidating around 260-265 levels. Try to take it at current close if possible, though I expect it to open high. The target is 300 near term.
NTPC is very good at 93-94. I see this closing in on 105 near term.
CentTextile slipped rather sharply to 296 from 315. Watch this for strength, and should be heading to 315-320.
Arvind Mills is down at 128 off and at a close above 133 will test 140 where it has been a few weeks ago. Past 140, looking at 150 plus.
A few good scrips I have not discussed before are SRF, APTECHT and VOLTAS.
SRF has been slipping sharply the last few sessions, and has come down to 260 after hitting 291 recently. A great buy around current levels, the target is 310 in near term.
APTECHT has had a lot of bulk deals in the 92-95 range from institutional buyers recently. It is a great buy at the current 80 mark. Look for signs of strength to enter, as it has been slipping sharply too. May take a while but the target is 110 near term.
Voltas is not a very liquid scrip. Closed 245 off, and a good buy around here. At a close above 251, would be good for 265 plus. This has been waiting for a break out for some time. Ill update on this again.
A few likely intraday plays for Monday which I will update after observing early trading:
Bank Of India: Try to pick at 140 moving up for 145-147.
HindLever: Try to pick at 162 on the up for 166-168.
IndBulls: Try to pick on the up at 263 for 270. Be careful with this.
Arvind Mills: Try to pick at 130 on the up for 135.
Dabur: Try to pick at 142 on the up for 147.
Voltas: Try to pick at 242 on the up for 248.
So much for now.
Thanks.
Anyone wanting to take positions in any of the scrips mentioned above are advised to be careful as there may well be an initial selling pressure if the close on Friday is any indication. However, buying will return at lower levels later. Even if the scrips gains points early on, I expect a drop, and then again a rally. Look for opportunities.
Hi Chandni, sorry I missed the question earlier. You have entered AegisLogistic
at a high level. I had called this at below 100 levels. It is in a very bullish trend and has run up a lot. Some upside still appears likely, though correction is enevitable. Difficult to say now, so you will have to wait and watch.
Hi Roneeth, Escorts is showing weakness for now. As such it should stablise here around 90 levels. I'll track it and update later tonight or tomorrow.
at a high level. I had called this at below 100 levels. It is in a very bullish trend and has run up a lot. Some upside still appears likely, though correction is enevitable. Difficult to say now, so you will have to wait and watch.
Hi Roneeth, Escorts is showing weakness for now. As such it should stablise here around 90 levels. I'll track it and update later tonight or tomorrow.
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