iCharts Discussions

[as4manju]

Hi Vishal,


My name is manjunath..

Regards

[as4manju]

Tata chem - The stock has been in a down trend for quite some time and has been forming lower tops and lower bottoms and is near to its medium term support levels a close below 340 whould confirm a further blow lets wait and watch...

Delta corp - Although i m do not follow mid caps and small caps as i m a large caps stock guy find this stock interesting due to various other reason one of it being this a recent "J" counter and most of his counters being a multibagger be it titan-bhel or other stocks so stock can do well in future and can be bought on delines upto 95 and same time abve 120 can go back to its highs

[yawalkar]

hi manjunath,
can you explain about "J" counter pattern.

[mrvishal_g]

[Sanchit]

[as4manju]

HAHAHA Its bang on correct... there are lot of ways in which you can make money in mkts and this one such stratergy of following the leader in mkt as he knows something which we dont know..

in my 8 years of exp in mkt i ve seen many such things and J counter is one such case u can do a reaseach of the stocks inveted and u see a a good wealth creation over a period of time in those counters and one more ineteresting thing which also i noticed few years back was stocks bought by merrill lynch funds use to have a retirn of 30% more in next 3 months

any such oberservation plz feel free to share lets others benifit from it and create wealth

The point is the secrect of money making in mkt are very simple "dont be too smart and keep it simple" else most of ur trading calls would turn to a long term investment

Regards
Manju

[as4manju]

Usally my work is more on the broder mkt and i often use index to determine the major trend in mkt and so did i mention in previous post on the index that Nifty can retrace to 5700-5500 soon as a healthy correction(attaching the charts for ref)

Recently came across a study which says that usally on the weekly charts the battle between bulls and bears run in 3-4-5 session and rarely go beyond and in case of such moments beyond 6 sessions its followed by a abnormal move, when checked for the same has worked on Nifty execpt for march - may 2009 where there was 7 upticks

So currenttly the we had 3 down ticks and a one uptick in process of formation till the time we break and close below 5790 in current week we can assume the bulls are on gaurd and wrost is behind us and can see some consolidation going forward

6350 would be the major hurdle to cross for

[as4manju]

ICICI bank (in the previous can had mentioned it can fall up to 1100 level below 1180 and now the stock has tested those levels and back) above 1180 the stock can do 1220-1250 levels

Orchid high beta stock major hurdles at 325-333(FnO) levels can do 350-370 is those levels are taken out

Hdfc above 720 can do 750 which is a major BO zone for the for a bigger gains to 800-850 levels

Hdfc bank recent post had mentioned abt 2240 a major level now once stock takes out 2390 can do 2450-2500 levels

Sun pharma 445-455 are the levels to watch for move on either side can take stock to 490 or 405 levels

[anand1234]

hi........as4manju............
I purchased sunphurma @456........after break @455.................but now so down............@450............what can I do??.........shd I hold??.............pls guide me

thanks
anand

[as4manju]

If u ve entered long the SL for this trade would be 445 and if u short it would be at 455.. in ur case 445 would be ideal wait for it to close above the level of 455 to shown the real strength

[anand1234]

hi.........as4manju........
it is always good to read your comments...........pls guide me how much I can get for intra??...........because I culdnot go long....

thanks
anand

[as4manju]

Hmmm difficult question as i m not a intraday guy but stil u can expect 462-465 i guess

[anand1234]

hi...as4manju.......
thanks again for your comments

thanks
anand

[as4manju]

Infosys earlier posted above 3112 can do 3160-3200 or more today reached 3160 has got still strength to move up..

HDFC bank slowly moving towards 2450..

Sun pharma range still in tact wait for 458-443 now to break

[as4manju]

Tata steel- i consider it bit risky as the news is out on the counter still technically close above 640 can take the stock to 660-690 in short term..

Siemens - On short term charts very small inverse HnS pattern above 785 can do 810-830

Jindal steel and power - had earlier mentioned if stock holds 600 it can go back to 760 so yesterday made a high of 712 still abv momentum above 715 can take it to 725-740 even 755

Catuion Volatility ahead in mkts for next few days only above 6350 we can say that we are going up further