@sudheendra… I guess you would need to take a call on your own because I couldnt figure out what is going to provide better returns. Instead of consolidating why not keep it as it is?
@nani… Dhanuka is making all time highs… Why the need to get out? Let it run as high as it wants… One thing I have learnt is to be sure about a top and maybe sell 10% lower rather than be too early in selling.
@mallikarjun… I tried looking into suven but couldnt decipher too much out of it… so no inclination to pursue it. There are many many more stocks out there so why get fixated only by one?
@bharat, If you are trading only based on technicals, you need to have a stop. But if u have a hypothesis combining both technicals and fundamentals there are high chances of success.
@ bharat… biocon broke out of a resistance zone of 300-330 with good vols and consolidated above it for quite some time…that prompted me to buy. Plus some indicators like the monthly adx etc were indicating strong uptrend.
@jatin kalra… there’s no way to be sure of a top… but usually stocks that are going to go up dont correct sharply or reverse sharply from a recent top… at most they correct 5-10% and then resume uptrend. U need to be careful where u see a high volume spike and then a sharp reversal.
I think you would need get your own conviction by looking at various stocks discussed on valuepickr. My picks would be jb chem, unichem and ajanta (mainly bcos they are well discussed on VP) but it is no use buying on borrowed conviction.
I am thinking of switching from Canfin to Repco. I plan to keep this for > 2 years. Would appreciate your views on this. I have some gain in Canfin but I think Repco is correcting and seems to be offering a decent entry point.
Even I needed your view on CanFin Home. I sold it over the past one month with some 12 - 15% profit to buy more JB Chemicals, Symphony and Dhanuka (after it ran above 200). I thought that these companies would be better long/medium term plays compared to CanFin.
dont do anything on my say so… take ur own judgement and decide.
regarding valuations there could be any number of triggers playing out in future… I am also not too sure what triggers could be. But looking at the consolidation going on in the space things might turn interesting in future if there are very few players in the space e.g PVR and Inox and maybe someone else.
Repco has hardly corrected from 360 to 340… canfin is stuck around 170 odd levels. valuation wise canfin seems a no brainer but the PSU tag seems to be playing spoilsport. But over time these negatives are also digested by markets and I feel canfin might provide decent returns.
Ankit, Coming to stocks you mentioned, esp in case of dhanuka its no use trying to chase prices… Stock has made a huge move of more than 50% upside from 130 to 200 plus… And at around 200 plus stock is quoting at close to 12-13 times estimated eps of around 16-17 for fy 14.
Personally I would give some more time to canfin and see how it goes.
