iCharts Discussions

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Educomp:

This stock has been a huge underperformer for the last few quarters. The 100 day EMA has been a resistance for the stock in the last year. The stock was able to close above this EMA only for 2 days the whole year (27th and 30th May 2011). On 30th May 2011, the stock made a high of 492.5 and then closed at 475. After that day, the stock had gone to a low of 162. The stock closed around 221 yesterday. If anyone is holding LONG positions, its better to exit around 240 if it goes there. There will be huge selling pressure around that area of 240-245 (238 is the 100 day EMA as of now). On the downside, 212-209 area will provide the support. Below that level 203 will act as the last hope for the bulls. So, I'll be exiting all my LONGs if the stocks goes to around 240 or if it goes below 209.

NOTE: For tomorrow, 218 will provide a minor support. Also, please note that when I'm mentioning 240 levels, I'm not saying that the stock will reach there. It is a possibility. But not certain.

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REC LTD:

This is another stock one should be really worried about. I dont think the stock will go up by more 10 or 12 rupees from here. That means I dont expect the stock to break the 180-184 levels on the upside. If 185 is broken on the upside one can see it testing the 200-205 range. Its pretty risky to go LONG in this stock. However, the stock has huge potential on the downside. If the stock comes in the range 177-184, I'll be pretty comfortable shorting the stock. My stoploss will be just above 185 and the targets will be 154 and 137.

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Kotak Bank:

This stock has been a relative outperformer. However, the future (short term and medium term) doesn't look that bright. The stock has resistance around 470 and 481....so, if the stock comes in this range, 470-481, one can short this stock with a stoploss above 481. The stock will have a minor support around 450. Once this support is broken, you can easily see the stock falling to 400-380 range....

NOTE: Any close above 500 will negate this view.

Regards,

Sam

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Adani Enterprise:

This stock has been one of the stars of this pullback rally. The stock recovered from a low of around 260 levels to close around 400 yesterday. I expect the stock to go up further to around 435. I believe its risky to take long position now, especially, positional LONGs. For a trader looking for a short, it will be a great opportunity. One can short the stock in the range 430-438 with stoploss above 441...for an initial target of 360 and then the second target of 300...So, the risk-reward is very attractive around those levels.

[Allwell]

Thanks Sam....

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Hi friends,

Today, I have posted a few stocks with bearish bias.....It doesn't mean that I have become bearish. Someone was asking me about these stocks, and i feel that these stocks are a bit bearish biased. Even though i believe that the market is yet to top out, there will be stock which might top out before the market. If we can identify those opportunities, it will be like hedging positions in this market.

NOTE: I still believe that the market will go up by another 200 points from here. So, if anyone wants to short this rally, they should be really careful. I have a gut feeling that we might top out on or before Friday, expiry week(next week). Also, i believe that we might see a new low in the market very soon (may be around 10th Feb ). Always maintain the Stoploss....and be safe....Happy Trades...

IMPORTANT: The view expressed here is very much personal. I may be wrong. So, i don't want you to get panic or get upset with me. This is just my view. Always have an opinion about the trend of the markets....Its useful...

Regards,

Sam

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[ragarwal]

hi sam is gail and cummins short stil on,i mean around 369 and 399 with stops of 372 and 401 respectivly

[anand1234]

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[ragarwal]

thnx sam fr ur concern i hv hd very bad trading sessions since d last few weeks so am careful now

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[ajayhkaul]

psalm..... is it not advisable to select/focus on the longs only (and avoid the shorts) while the trend is clearly up? Rising tide tends to raise all the boats....