iCharts Discussions

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Hi Vinod,

If you want to be on the safer side, you can book profit and wait for any up-move again to short. There is nothing wrong in that. I always try to protect the profits. Else, there is no point in trading.

As far as Adani Enterprises is concerned, the charts looks miserable. However, if somebody wants to be on the safer side, its better to book profit and get out. One can have a stop-loss just above 283 (spot level) for this stock. Also, its better to take profit if the stock comes around 270.

For Hindalco, you can hold it with a stop-loss just above 121 (spot) now. I'll be holding it with the target still at 105.

Its better to avoid the stock, Reliance. However, if anyone holds SHORT in Reliance, he/she must keep a stop-loss of 745. Overall, the stock has broken the key support level of 705 couple of days ago. or else, if somebody wants to go short in Reliance, it is better to sell it around 735-740 levels with the stop-loss at 745.

Regards

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Stocks with positive outlook:

Bata

One can buy this stock in the range 565-555 with stoploss below 548 for a target of 590. Current price is 570

Opto Circuit:

One can buy this stock around 198 with stoploss below 195 for a target of 217. The target might be achieved in another 3 to 5 trading sessions. Current price is 200

Note: This is my personal View. Please check the charts yourself before making any decisions.

Regards

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Oriental Bank

Another Stock I'm adding to the LONG list of stocks is Orient Bank. One can buy this stock around 211 with a stoploss just below 205 for targets of 240/255. Current Price is 213

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Those who bought Opto Circuits around 198 can keep a stoploss just below 195 for a target of 217.

ESNMURTY · White Belt Joined: 31 Oct 2009 Posts: 380

Thanks for the views and advice

ESNMURTY · White Belt Joined: 31 Oct 2009 Posts: 380

Dear psalm ,
whats your view on buying ADF FOODS @55 for medium term

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Hi Murty,

I'll check it and post my view a while later

Smile

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Hi Murty,

This stock (ADF Foods) doesn't have much history of trading as it was listed only in the year 2010. After the listing, the stock has corrected almost 50% and then recovered most of the lost grounds later only to close lower. The second round of selling happened from the month of June, 2011 and still continues. Looking at the chart, i don't see any strength, except that the lows are a bit lower than the current price (around 25% from the current levels). However, it doesn't guarantee safety. Another thing is that the stock has resistance in the range 57-61. So, its better to buy it above this range. Even if the stock breaks 61 levels, i don't think the stock will be capable of breaking 67-70 range, meaning a return of around 15%.

Not much information about the company is in the public domain. I don't know how good this stock fundamentally is and I'm not aware of the reasons behind your interest in this particular stock. Considering all these things, I believe that you should look for other options available at this point of time. There are lots of better opportunities out there in the market or even in that particular sector. If you still wants to own this company, then its better to wait. If the stock corrects to 47 levels, you can start buying. However, if i were in your place, i will be waiting for the levels 42-41 to enter this counter. Though I like the sector this company is in, i feel that there are better opportunities. I believe I have answered your question properly and will be glad if it helps you.

Regards,

Sam

ESNMURTY · White Belt Joined: 31 Oct 2009 Posts: 380

Thanks psalm,
The price has just moved above the 34 and 89 dma and it is also trading above the pivot for the month with R1 at 57.I feel this a fundamentally good company with good chunk of export market.I feel that if the price is able to maintain above the said dmas it may see levels of 67-70 in the medium term. Ofcourse the overall market needs to be good.

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Ok....It is YOU, who will have to decide on the investments. If you have conviction, there is nothing wrong in going ahead with your plan. But always have Stoploss, if you are trading. Smile

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Voltas:

The stock looks good as of now. One can buy this stock in the range 76-74 with a stoploss below 73.5 for a target of 85. For the stock, 85 to 89 will be a supply zone. However, if broken this area, there is possibility of reaching 95 levels.

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

psalm · Black Belt Joined: 12 Nov 2011 Posts: 5368

Chambal Fertilizer might go to 100 levels if it closes above 85.3 today. However, if it doesn't, then one can sell it with a stop-loss at today's high. However, it might be a bit risky. Looks like its a "BUY on Dips" scenario now for the stock. But the risk reward ratio is favorable for the sell..... Smile