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Thursday, 28 February 2013

Queries from Readers–Answered here

Due to many people writing to me on individual stock analysis, I am opening a new section here to answer reader’s questions. If you have any questions, please leave the question as a comment or in the chat box. Depending on my time availability, I will respond to your questions.

31 comments:

Dear friend, I am an admirer of your grasp of the market, and appreciate your analysis. I have 11000 march futures of Coal India bought at 29.80. They were shifted from february futures. What do you advise? Thanks. Adarsh K Azad.

what is your take on HCL Technologies? I know that IT sector is a strong buy but I was told HCL is trading very low in volumes and can touch 685. Please advise!

Hi , My analysis on Coal India. My levels are based on cash. Coal India has a strong support at 300 followed by 290. I do not think this level will be breached. If this level is breached, please exit all your buy positions.
In next 3 days, there could be a bounce back of Coal India to 320-326 levels in cash. Use this bounce to exit your positions. The stock is negative in weekly and daily charts. However a bounce back is possible looking at stochastics and RSI.
We need to see overall market situation in next 3 days. Markets typically take 2-3 days to settle after a news based fall. I will give my views again on Tuesday.

Hi, After hitting 52 week high continuously, HCL Tech is indecisive in charts. The stock has slowed down in its momentum in last three sessions, however today it showed good resilience in falling market. If markets open positive, tomorrow the stock will bounce up. 731 and 737 are the immediate resistances. As written above we need to watch overall markets for next 2-3 days.

I have actually sold Apr Fut @ 730.. I will hold on and keep an eye on the above levels with fingers crossed. Thanks a ton for your reply!

Ok. If you are on sell position, then look at the resistances of 731 and 737, if these are crossed, please exit depending on your risk appetite. Also, you dont need to carry positions overnight to make money. You can trade intraday and still make money and get peaceful sleep.

As long as HCL Tech stays below 725 today in cash, the stock will be negative.

Update on HCLTech, for the past 3 trading sessions, HCL is not able to cross the resistance level of 731. Remain short as long as this is not crossed. IT sector in general is weakening, so the stock could go down

IndusInd is definitely in a downtrend, if overall market go down IndusInd will also go down. In the short term charts 387-90 is the immediate support. If this is crossed , then the stock will hit 380-375. What is important is the SL. For your short, keep SL as 415 depending on your risk level.
For tomorrow, IndusInd will bounce back to hit 400-402 levels. If the stock is above 398, it will remain positive.

You had very kindly written that you would give your views again on tuesday on Coal India. I shall be grateful for your advice. Thanks.

Coal India as of Tuesday end of day has turned strong buy in hourly charts. Still a sell in daily charts. The stock will now bounce to 328-330 levels once 323 is crossed.

Hi, to buy Nifty call, wait for a dip of 20 points at least and go long. Markets look bit tired after the runup and could breathe back a little bit.

Coal India update. The level which I gave yesterday was 323. The stock hit 322.80 at opening and it fell down. Any day it crosses this level, there will be further upmove. As of now keep trailing SL as 314-305 depending on your risk levels. Stock will be negative below 305 for short term.

Hi, HCL Tech has crossed the resistance of 737, please exit your shorts in case you are still holding.

Hi can i buy JP ASSOSIATE 80 CE @ 1.60 ? What is your view on the stock?

Sorry Uday, I missed your question. Let me know if you have any open points.

whats ur views on tata motors,wockhardt,laopala,and pvr pls reply me? i highly obliged.

Tata Motors will be negative below 262 today and short term view as per charts suggests further downfall. Wockhardt is positive and could move to 2050 levels.

THANKS A LOT FOR UR KIND REPLY.PLS BE KIND TO ME IN FUTURE ALSO.

whats ur view on tata motors,tulip and kfapls suggest me.

Hi , for Tata Motors please see calls for 10 April. It is positive for short term as long as the stock is above 262. I do not track Tulip and KFA.

where r u sirji we r waiting 4 ur valuable suggestions. pls come soon....

Hi, I just took a break for few days since I noticed that certain paid sites were copying the calls. I do not care about this much. But still it is not a fair practice. I will be publishing regularly now.

thanks to reply me again. come on blog regularly its very kind 4 us. thanks again

comment on nifty range in this expiry. and some good stocks for positional trading.

hey Admin,
I found this blog very interesting. I do trade with ORB technique however it gives profits but sometimes false trades also. With you modified orb technique I guess I will be able to avoid false signals. My query is do you trade with orb all trading sessions. I mean do you first scan stocks and then apply orb technique or you do orb everyday same stock say sbin. Thanks in advance. You are doing a great work thanx!!

Hi, I do ORB only for select highly liquid stocks which I cover everyday in the blog, such as Reliance, L&T, SBI, ICICI, Axis, DLF, Tata Steel, Tata Motors etc.

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