Markets continue to struggle around 20k as being said in last few days to be cautious and disciplined !!! I think the word discipline , caution and stoploss have been emphasized lot many times in the last few days coz i have seen corrections which are meant to look for has become a sort of dampener and killer for irresponsible traders!
For a precaution in last 3-5 sessions we have consistently advised our clients to avoid leverage positions in this volatility to safeguard the super gains made ad
Technical View :
Sensex as said before double top formation at 20240 is still in the offing and below 19100-19200 range we could see 18300 -18500 support zones in quick time .. Till we dont close above 20400 the markets would remain volatile and stock specific moves.... Keep strict stoplosses in your trading positions and cut in small losses then let them pain ur gains and i wont advise shorting as thats what i generally dont prefer ...Some of the stocks have over run and stay hedged and light ! and wait for comfortable zones to resume over trading ....
If you are not in the market all u can lose is an opportunity ....
Walchandnagar ,Ind Hume pipes , GMDC amazing returns thats why be patient and investor in long term stocks to create wealth, Om Metals does 78-80 frm 58 , Deccan goldmines , Marksans , Nissan continue on ckts.....Jayaswal Neco one turnaround stock which we mentioned at 20 odd levels is catching mkt fancy at 45 stay invested , Raymond inches 5% up , Nagarjuna does 67-68 wait for close above 65 and 48 for ttml , Premier LTD 1st ckt to start of ...
ASIAN oil fields and Alpha Geo 2 ckts in a row remain invested...
Stocks to watchout for :
Welspun India ( 514162 )
Buy around 70-72 with a stop of 66 on closing basis tgt 84-93 . Holding period 2-4 weeks ..
The world is talking about this stock now at 250 and people who bought at 280 will now say we are long term investors !!!!!!!!!!!! well what were u doing at 100-110 is the question u need to ask... We had been consistently recommending the stock from 115 and again at 145 , 180-190 !!! ...The targets were given to be 250-300 and advised profit booking in the range of 260 above at the same time people went buying for trading gains and are now turned so called long term investors !
The stock can be re entered and accumulated in the zone of 190-210 with a long term perspective only and not a trading call .
Market Psychology :
Just putting my views out here as i have been asked the question Why did RPL CRASH today ? n no of times ...
Well when it ran from 115 or even say from 180 to 295 in no time it was not a bubble or a manipulation or distribution but when it corrects from the highs to 220 -210 levels its a CRASH !!!! ... If you are a trader keep strict stoplosses is all i can say .. The stock is good maybe your price is not RIGHT !!! I still remain bullish on the stock for long term but around 280-300 is expensive for the stock till it doesnt near the production schedules...
http://www.4shared.com/dir/2729969/b1183355/sharing.html DOWNLOAD OUR OLD PRESENTATION AND SOME INTERESTING CHARTS !!! SENSEX to touch 45k -77k by 2018 .....Presentation given at 8k by us ....
TO SUBSCRIBE to our recommendations check http://analyseindia.blogspot.com for the details.
TECHNICAL ANALYSIS SESSION DELHI NOVEMBER 17-18 .SERIOUSLY INTERESTED PEOPLE CONTACT NOORESH 09819225396 for details