iCharts Discussions

[psalm]

Hi,

One of my friends here in this forum has been asking me to create a new thread so that I can post stock ideas which I feel are good for a trade. This thread is for that purpose. If I come across any good stock trading idea, I'll try to post it here. I'll be posting only the stock ideas here. By the way, no more questions and answers here, please. If anyone have any queries regarding the posts I'm making here, it will be addressed at my other thread, "Individual Stocks". Thanks for the understanding.

If you have good trading ideas (stock), please post them here in this thread


Regards,

SAM

[rk_a2003]

[psalm]

INOX Leisure Limited


anand1234 has asked me about the stock, INOX Leisure Limited , a while earlier. The stock is looking good at the charts...forming some kind of a Head and Shoulder or a "Cup and Handle" pattern......the stock is trading around 55.2 now....a close above 55 could push the stocks to 69/74 levels. Watch out. Once the breakout is confirmed, one can expect the target to be achieved within 3 months.


Regards,

SAM

[psalm]

[ajayhkaul]

Great initiative psalm . So these are not going to be day trade candidates , right ? or any time frame?

[psalm]

[ajayhkaul]

[vinay28]

sam, i gave you four good scrips yesterday e.g. bata, tata steel, axis bank and icici bank, all for a week to a month. Here's a fifth one, LIC Housing

[sairanga19]

reliance is best for trading most of the time its trends smoothly with nifty and gives less whipsaws and trading ranges day

[psalm]

A few stock ideas, which I have come across today.

Renuka Sugar:

Renuka Sugar has support around the range 30.2-29.6. One can think about buying this stock in that rage with stoploss below 29.5 for targets of 35 and 39. However, if the stock breaks below 29.5, there is chance of it testing 27.

NOTE: For those who wants to be a bit cautious, they can buy it closer to 29.6 if the stock gets there.



Federal Bank:

If one can keep a stoploss below 419, Federal Bank can be bought. One can think about buying the stock in the range 423-420. Immediate resistance for the stock is around 433 (minor). However, I expect the stock to test 459 in a week or two.



Hercules Hoists Ltd:

The stock has support around 248. One can think about buying this stock on every dip from here onwards. The stoploss should be below 248. The target here could be 310 and 325.

NOTE: If one cannot afford higher stoplosses, try to buy the stock around 250...

[psalm]

Some short-selling ideas from the Metal Sector

1. One can sell Sterlite around 112 and then up to 113 with stoploss above 113 levels. The targets here could be 106 and 98.


2. Tata Steel is a good shorting candidate in the range 455-459. The stoploss here should be just above 461. The targets are 438 and 412.


3. Jindal Steel is a SELL around 538 (today's high), with stoploss above 544 with targets of 514 and 499.


SAM

[psalm]

Jaiprakash Associates:


JP Associates can be sold around 78 and then up to 80 with stoploss above 81 for targets of 73.7 and 69. The stock will be pretty weak below 69. If the stock goes below 69, one can hold onto the trade for a target of 64.



SAM

[psalm]

A few stock ideas, worth looking at....

WIPRO:

Wipro is looking good for a target of 500. The stock is trading around 443 now. Immediate resistance for the stock is around 455. For very short-term traders (day traders), the stoploss is around 439. For positional traders, they can keep a stoploss below 430 for target of 498. Major support for the stock is around 430 levels. Watch Out.

Divi's Lab:

The stock is looking excellent on the charts. It is trading around 769 now. One can buy the stock when it crosses 775 levels. Even, for investors, its a good stock. Watch out.


Heidelberg Cement:

The stock is trading around 39.6 now. It has immediate support around 38.7 levels. It could give a good break-out if it trades above 40 for a day or two.....the targets could 48 and 54...watch out....the stock has major support around 36-37 range.


Orchid Chem:

I believe that Orchid Chemicals is heading for higher levels. The stock has immediate resistance in the range 191.5-193. Once the stock is above this range, then the next target will be 201. Once the stock breaks 200 with good volume, then the targets of 220 and 255 can't be ruled out. One can expect these targets to be achieved if the overall markets doesn't turn bearish in the medium-term. On the downsdie, the stock has good support around 186 now. Below that it could test 181. Major support for the stock is around 177.


OnMobile Global:

I expect the stock to give a good upmove from here onwards. One can buy the stock in the range 61-60 with stoploss below 59 for targets of 66 / 69.5 and 73. A target of 70 looks real possibility. Watch out.

INFOSYS:

If one can keep a stoploss below 2830, Infosys can be bought......The targets for the trade will be 2970/3000 and 3080....watch out....the stock is trading at 2850 now...


SAM

[psalm]

A few trading ideas, I have come across today are as follows:

Balrampur Chini:

The stock is trading around 56.5 now. The stock has resistance at its recent high of 58.1. One can think about selling the stock on every rise with stoploss just above 58.1. One can go long if the stock is able to break above 58.1. If the stock is not able to break the 58 levels, then it could test 54.5 and 49.5. However, if the stock is able to break above 58, levels of 65 and then 72 could be possible.


Indraprastha Gas:

The stock has had huge fall today in its share prices. The stock had gone to as low as 188 earlier during the day and is trading around 232 now. Even now, it is down almost 33% from its previous closing price. Anywa, the stock is still looking weak. The stock will have huge resistance around 243 now. So, any upmove up to around 240 can be sold with stoploss above 243. The target here could be 190 and then 153.

NOTE: This is a very risky trade. Holding any position overnight could be risky. However, the risk reward ratio is pretty attractive. Think twice before coming to any conclusion.



BEML:

The stock is looking pretty weak.....one can think about selling this stock on every rise......I dont expect the stock to cross 615 anytime soon. Current rate is around 593. Watch out.


SAM

[psalm]

Bharat Forge:

Bharat Forge is trading above 330 now, up by more than 2%. However, as long as it is below 337, it is a SELL for me, a medium term SELL...I must confess here that the stock hasn't given any SELL signal yet. This is a speculative trade. I'm speculating here that the stock wont break above 337. However, if it does breaks above 337, one should exit the SHORT trade because, that will be a BUY signal. Please be aware of that.

NOTE: One can sell the stock in the range 330-334 with stoploss above 337 for inital targets of 304 and 290. However, I very much expect the stock to test 275 levels. Watch Out.


BPCL -

BPCL is looking a bit weak. Current rate is around 664. One can sell the stock in the range 667-672 with stoploss above 677. Look to book profit in the range 624-614.


Orchid Chemicals:

Orchid Chemicals is trading around 179 now. The stock looks weak to me. One can sell this stock on every rise upto 181.5 with stoploss above 183.5 for targets of 166, 157 and 146. Watch Out.


Pantaloon Retail:

The stock has considerable support in the range 167-165. Current rate is around 176. One can think about buying this stock on dips up to 167 with stoploss below 164. The targets here could be 195 and 220.


Hindalco:

Hindalco is trading around 117. It can be sold on every rise upto 120 with stoploss above 120.5. There is every chance of this stock to make a new low. Watch out.


Regards,

SAM