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psalm
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Joined: 12 Nov 2011
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Post: #31  Posted: Mon Jan 02, 2012 3:02 pm Post subject: Axis Bank |
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| vinay28 wrote: | | psalm, any 1-3-6 month view on axis bank? |
Axis bank:
If the view is for a few days, then one can buy Axis bank in the range 787-779. The Stop-Loss here should be below 775. The targets are 825 and 860. However, if the time period is around 1 to 3 months, one can buy it in the range 760-725 with stoploss below 715. The targets here should be 860/940. You can expect a Lot of trading interest (Trading BUYs) at these levels. Especially around 740/730 levels. For long term investments, one should wait for much larger correction in the stock. I expect the stock to come to 590-640 levels in another 3 to 6 months time. That will really be an attractive level to enter for a Long Term. |
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vinay28
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| Post: #32 Posted: Mon Jan 02, 2012 3:14 pm Post subject: |
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| thanks psalm |
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psalm
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| Post: #33 Posted: Tue Jan 03, 2012 12:47 pm Post subject: Axis Bank update |
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| psalm wrote: | | vinay28 wrote: | | psalm, any 1-3-6 month view on axis bank? |
Axis bank:
If the view is for a few days, then one can buy Axis bank in the range 787-779. The Stop-Loss here should be below 775. The targets are 825 and 860. However, if the time period is around 1 to 3 months, one can buy it in the range 760-725 with stoploss below 715. The targets here should be 860/940. You can expect a Lot of trading interest (Trading BUYs) at these levels. Especially around 740/730 levels. For long term investments, one should wait for much larger correction in the stock. I expect the stock to come to 590-640 levels in another 3 to 6 months time. That will really be an attractive level to enter for a Long Term. |
Vinay,
The low made yesterday was 784 and it has achieved the target i have mentioned (for very short term). I mean 825.
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vinay28
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| Post: #34 Posted: Tue Jan 03, 2012 12:49 pm Post subject: |
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| yes psalm upper target met |
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psalm
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Posts: 5368
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| Post: #35 Posted: Tue Jan 03, 2012 1:12 pm Post subject: IT Stocks |
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At this point of time, I'm really worried about the IT Stocks, especially TCS, Infy and all. These stocks are sitting just under their resistances. If someone can afford 2-3% loss on the upside, these stocks might give huge returns. For example, i dont think TCS will cross 1250 or thereabout easily. However, this might backfire as well, because, if their results, which will be announced later this month, are good then they might continue their short term up-move. Unfortunately, I think its very low probability event. Unless the market moves upwards, these stocks are gonna correct. That means very favorable risk reward ratios. 
NOTE: I don't think the time is ripe for TCS to make an all time high (even after considering the rupee situation). |
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psalm
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| Post: #36 Posted: Wed Jan 04, 2012 10:24 am Post subject: Re: BPCL |
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| psalm wrote: | BPCL:
The stock appears weak as of now. However, I have a gut feeling that the stock is about to bottom out, at least for the medium term. I believe that a short term bottom around 445-450 levels will be formed in a few days. So, I'll be accumulating the stock in the range 465-450 with stoploss just below 445. However, if broken below 440, there is possibility of 370 levels, which i believe is a low probability thing.
Note: For the very short term traders, they can consider buying the stock between 455 and 448 with stoploss just below 445. The first target for them will be around 500. |
Watch out for BPCL..... |
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ESNMURTY
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Joined: 31 Oct 2009
Posts: 380
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| Post: #37 Posted: Wed Jan 04, 2012 11:11 am Post subject: Re: BPCL |
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| psalm wrote: | | psalm wrote: | BPCL:
The stock appears weak as of now. However, I have a gut feeling that the stock is about to bottom out, at least for the medium term. I believe that a short term bottom around 445-450 levels will be formed in a few days. So, I'll be accumulating the stock in the range 465-450 with stoploss just below 445. However, if broken below 440, there is possibility of 370 levels, which i believe is a low probability thing.
Note: For the very short term traders, they can consider buying the stock between 455 and 448 with stoploss just below 445. The first target for them will be around 500. |
Watch out for BPCL..... |
Is there any possibility of touching 455 today |
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psalm
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| Post: #38 Posted: Wed Jan 04, 2012 11:27 am Post subject: BPCL |
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| If the market breaks 4740 levels, there is chance....in that case, you might get it around 454-455 levels....But you don't have to jump in for a trade....just wait for YOUR PRICE to hit.... that's the way, i feel.... |
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ESNMURTY
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Joined: 31 Oct 2009
Posts: 380
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| Post: #39 Posted: Wed Jan 04, 2012 11:32 am Post subject: |
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| Thank you sir. |
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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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| Post: #40 Posted: Wed Jan 04, 2012 2:31 pm Post subject: venkys |
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Dear psalm sir,
Whether Venkys can be bought @402 now |
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psalm
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Posts: 5368
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| Post: #41 Posted: Wed Jan 04, 2012 2:50 pm Post subject: Venky's |
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Hi Murty,
i wont be buying venkys at or around 402. There are a lot of resistances around 420 levels (418-425). You can consider this only if it is above these levels. Even then, i will be a bit skeptical. If you want to buy the stock for medium term or long term, you should wait for the stock to correct further. You will get it cheaper, I feel.
"""""""By the way, I hate venky's....cos, Blackburn have defeated my club in the EPL last week. Get lost Venky's.....LOL...""""'
Just kidding, Murty....dont feel bad....  |
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ESNMURTY
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Joined: 31 Oct 2009
Posts: 380
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| Post: #42 Posted: Wed Jan 04, 2012 2:54 pm Post subject: |
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| Very happy for your view. No way connected to Venkys but for trade. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #43 Posted: Wed Jan 04, 2012 2:59 pm Post subject: Venkys |
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| If you are just looking for some trades, you can think about buyin it around 375-380 levels and then you can exit it around 410-415 levels. However, if it is for long term, I expect the stock to touch 325-330 levels in the future. |
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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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| Post: #44 Posted: Wed Jan 04, 2012 3:02 pm Post subject: |
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| Okay. |
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Vinodz
White Belt
Joined: 13 Aug 2011
Posts: 78
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| Post: #45 Posted: Wed Jan 04, 2012 8:25 pm Post subject: what to do with earlier shorts ? |
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dear psalm
looking at this dead cat bounce maybe upto 4840
what to do with earlier shorts ?
continue to hold shorts till jan expiry?
let us know
Adani Enterprise
Hindalco
Reliance, etc |
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