wimplast - stock seems to be in the fourth wave correction of the bull market that started in 2009. once this correction is over, confirmed on a close above 400, it should rally to 500 plus.
la opala - bull run continues for the stock and any dips to 350 should be bought.
gvs pharma - stock continues to be in the correction which started in 2010 and is likely to test previous lows of around 20 over next several months. this view would negated on a close above 40 in which case we could new all time highs.
karur - it peaked in 2010 and has been correcting ever since. i would expect it to re-test its low of 344 before it finds a good bottom.
niit tech - it is correcting its rally since 2011 and has some support around 230 levels below which it could drift to 175 levels. stock would resume its uptrend above 283
supreme ind - this is a leadership stock and rarely gives you an oppurtunity to buy in a correction. this is a buy on every dip until the bull market is over. i would only get concerned if it corrects below 300.
ajanta has finished major wave 3 of primary 3. this could be easily identified by price moving below 100 dma. it has done that only during major 1 and traded above 100 dma during entire major 3 uptrend. it has corrected 28% from the top which is within 25-30% ballpark for a major wave correction. there is strong support in 800-850 zone where i expect the correction to finish. RSI is very oversold. last time it was that oversold, it rallied more than 40%. i am accumulating ajanta nowupto 800 levels. the next major wave 5 uptrend should take it to all time highs once this correction is over.
It seems that markets would top out in the 5700-5800 range and we could have a bigger fall. I have exposure in Ajanta, Cera, Astral, PI Industries, La Opala, Kaveri,Unichem Granules,Mayur, Glenmark and Natco. Among these what stock can withstand a carnage to some degree?. Or at levels should I book out ?
nifty is in a bear market but the index is still holding up due to bullish global markets. once US starts weakening which should be soon, nifty could tank. on the individual stocks, value stocks could get hammered but the growth stocks could either decline less or bounce back strongly after the decline. the bullish stocks in my view from your list are ajanta, cera, astral, PI, la opala and kaveri. unichem and hawkins continue to be hope stocks so i would prefer to miss them. glenmark and natco seem overpriced for their size and growth. in smallcap pharma i prefer ajanta and alembic. in largecap pharma i prefer lupin.
accelya - has a very bullish chart and the stock stayed above 50 dma in the recent carnage. currently it is in 5th wave up of the 3rd wave uptrend of its primary 3. i would expect a rally of max 700 before either a sideways consolidation or a correction. 50 dma at 500 remains a strong support. i like the technicals of the stock but never got to fully understand the business it is in and hence missed the run.
kaveri - first intermediate wave up of major 3 finished at 1704 followed by a correction to 100 dma at 1400. the next intermediate wave has kicked off now which should target 2000 soon. any correction is a buy until 100 dma(currently at 1400)is not broken.
astral - stock remains a strong buy on dips. it has shown tremendous strength in this carnage and kudos to all who managed to buy the 18% dip this week. 100 dma at 487 should provide good support. one stock closes above 630, it should run upto 700-750 very fast.
repco - very small technical history to make a judgement but seems like the stock is in the fourth wave correction of the uptrend and a rally to 300+ should follow if 50 dma a 244 is held. i like the stock fundamentally and buying it slowly.
hawkins - perpetual hope stock. the stock has a strong following and that helps it avoid any deep correction. charts are currently looking terrible. the stock is trading below 50,100 and 200 dma and next visible support comes in at only 1500. currently the stock is oversold and could see a bounce. peronally i would buy the stock only once the company gets back to growth path or stock moves above 200 dma. until then, there are better growth options.
Iam Abhay from Salem, Tamil nadu watching value picker for last 8 months non stop almost on a daily basis.Couldnnot find a better timing to start my conversation.Basically iam a garment retailer with a chain of 6 stores and more to come…thoroughly impressed by the forums efforts for the investor community.
( we picked up page industries far before anyone recommended
We being top sellers of jockey right from beginning and extremely strong conviction about jockey and almost 100/100Faith in management attitude to rewArd shareholder.
Now today iam forced to write up here is for a query cos of a timing to take a decision to pick up quite a good quantity
we are finding similar triggers of page industries in
Aditya Birla Nuvo which I have been watching for last 2 years and started investing in 2 quarters . I can explain the triggers in the next post tomorrow practically from a retailers
Ultra compounding perception .( Ultracompounding is a very new word I have coined which I will explain with an illustration tomorrow )As even iam a retailer.
For now my first intuition of triggers ar coming true with the results today and the double growth of their garment business.
Being a technical Eagle Eye"'master
do you see any reading in ABnuvo charts as a five bagger from now on for 5 years period
What are the short to medium term charts saying???
My conviction on this is very extremely high, still need your technical gUidance.
First of all a very warm welcome to valuepickr. It’s a platform where I have learnt a lot about investing and also how to share knowledge with fellow selfless investors. There is a section where everyone introduces oneself. I would really appreciate if you could post your introduction there for everyone’s benefit.
Great to see you at such an early stage. Would like to know you thoughts on what made you go for it and how it’s prospects now. It is one of my favourites. I am out of station this weekend. Will revert back on your queries on Monday.
TCS - good chart. stock has almost always held 200 dma during the entire uptrend since 2009 and any dip to it are bought and the last one was no different. wavewise, its in primary 3 and could continue to drift higher. immediate support comes at 1600 and later at 1450(200 dma).
bajaj corp - limited technical history so difficult to make accurate assessment. stock has finished a major wave up and is currently correcting the uptrend. stock is also testing 200 dma which has provided decent support till now. stock could drift to 200 once 200 dma at 237 is broken.
canfin homes - stock’s chart doesn’t look good as do most of the financials. stock could easily drift to 100 over time which is the next major support. i would not touch the stock until it crosses 200 dma(147 currently) or reaches 85-90(last major low).
indusind - similar to most financials, current chart doesn’t look good but long term charts give confidence in its ability to bounceback. stock has finished primary wave 3 and current correction seems to be primary 4. primary 1 top at 313 provides very strong support which should hold. stock is currently oversold and due for a bounceback.
yes bank - stock’s chart looks ugly. it has corrected 50% from the top which doesn’t look like primary wave but more like a cycle wave correction. this should find support at 23-240 region.
hi vivek, i own page. i owned mayur for a long time. exited with a multibagger. i think the time is approaching for me to make another entry to it. will follow up on the analysis for both in my next post.
