Transcript of Chat with Mr.Hitendra Vasudeo ,Technical Analyst,Stockmechanics.com. - 12th August 2002
[04:27:17 PM] => Myiris: Welcome to the live chat session.
[04:27:29 PM] => Myiris: Our guest today is Mr. Hitendra Vasudeo, Technical Analyst, Stockmechanics.com.
[04:29:27 PM] => Mr. Hitendra Vasudeo is a Technical Analyst with Stockmechanics.com. At the time of this conversation/chat, Mr. Vasudeo may or may not have positions in the stocks mentioned below, although holdings may change at any time. The views expressed by Mr. Vasudeo is based upon information that he considers reliable, but does not represent that it is accurate or complete, and it should not be relied upon as such. Mr. Vasudeo, his company and its affiliates, officers, directors, partners, and employees may, from time to time, have long or short positions in, buy or sell and deal as principal in the securities, or derivatives thereof, of companies mentioned herein and may take positions inconsistent with the views expressed.
[04:29:44 PM] => None of the information contained herein constitutes, or is intended to constitute a recommendation of any particular security or trading strategy or a determination that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. You should consult with and rely upon your own advisors whether and how to use such information in making any investment decision.
[04:29:51 PM] => Lastly the views expressed by Mr. Vasudeo have no bearing whatsoever with that of IRIS Ltd. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website www.myiris.com.
[04:31:41 PM] => Myiris: Welcome to the chat session, Mr. Vasudeo.
[04:32:11 PM] => kanhaiya_agrawal : Is there a recovery in sight?
[04:34:47 PM] => HV: No, a rally if it come will be of a pull back in nature. But a good trading up swing can be witnessed before a further fall.
[04:34:56 PM] => Mangaln : Can I buy Silverline, SKF Bearing- at this level?
[04:35:22 PM] => HV: If you are a trader then you could buy Silverline with a stop loss of 21. But you will need to exit if you are profit. If you are not a trader then avoid it. SKF Bearing - You can accumulate
[04:35:35 PM] => byte_2k : What do u suggest over the reason for downslide of the Zee Telefilms share?
[04:37:10 PM] => HV: I am sorry, I will not be able to give you reason for the downslide. I would be able to give technical view of the stock. I feel that the stock can be accumulated at every fall below here on.
[04:39:11 PM] => sanjeev_sonthalia : What do you think is the reason for huge volumes in futures in Telco & Tisco?
[04:39:18 PM] => HV: Volumes in the direction of the price is the trend. It basically the interest in the stock and possible stories in the stock which drive them.
[04:39:33 PM] => Amnd : The best in TMT and there support level ?
[04:40:55 PM] => HV: Nothing is best at the moment.
[04:43:23 PM] => muthu_kn : Basic doubt regarding shares. I would like to invest but I don't know where to start?
[04:43:31 PM] => HV: Wait for markets to move towards 2800 or below and then think of accumulating stocks.
[04:45:58 PM] => sweethoney2122 : Why ICICI is best in the field of credit cards?
[04:47:49 PM] => HV: I canít answer that question as I will be answering the secondary market queries.
[04:47:56 PM] => psmuralidharan64 : Should I buy Corporation Bank at this level ?
[04:48:05 PM] => HV: You can buy at 101-94 with a stop loss of 90.
[04:49:20 PM] => psmuralidharan64 : Should I buy HOCL at this current level ?
[04:49:29 PM] => HV: You can buy at Rs 15 with a stop loss of Rs 12.
[04:49:44 PM] => kanhaiya_agrawal : Should I hold BPCL for short term?
[04:49:53 PM] => HV: Hold
[04:50:22 PM] => Raghuvanshi : Do you agree that the markets are oversold at present?
[04:50:49 PM] => HV: No, completely. The 3 Tier RSI system derived by us has not indicated on oversold position. Last time when the SENSEX was in oversold according to our system was at the time of WTC crash.
[04:51:00 PM] => Vinay Agarwal : How much of an upside do you foresee for the index, if at all in a next six months?
[04:54:47 PM] => HV: If the SENSEX attain lower level of 2858-2790 or below first and then starts moving up then, we can expect SENSEX to cross 3758. But if it move up now from here on before falling to lower level then 3200 could be maximum.
[04:57:01 PM] => Bhas_Reddy : Are the IT mid-caps attractive?
[04:57:13 PM] => HV: Not much clarity in the sector apart from minor trading swings.
[04:57:30 PM] => Nishanth_vasu : How is the week going to be?!
[04:57:47 PM] => HV: SENSEX could test 3055 levels or move near it. Resistance will be at 3055-3080. A weekly close above 3080 could momentarily close the downside door. In that case could move towards 3200 and can slide back down. Ultimately it has to go down. One has to see whether the SENSEX it taking short cut to down or long cut to go. A long cut would provide opportunity for trading and to exit pending stuck up long positions as well.
[04:58:23 PM] => AMN12 : Does the broader economic indicators give hope for better market?
[04:58:53 PM] => HV: Hope is not good at times. The economics indicators give a clear indication. But if positive indication are or will be coming than market will discount it before the actual indication could come.
[04:59:03 PM] => Muthukumar : How do you view the SEBI ruling on RayBan- Luxotticca?
[04:59:31 PM] => HV: Let SEBI answer it this question.
[05:00:51 PM] => Manish : Is CMC worth for investment at the current price?
[05:03:28 PM] => HV: No, the stock can turn positive only if it able to close above 200 EMA of 476.
[05:03:38 PM] => Jai_mal : Which sector do you think will perform better in the current quarter?
[05:04:02 PM] => HV: Power Sector for medium term.
[05:25:15 PM] => Pradeep : Your view on media stocks? Which one would you recommend?
[05:25:26 PM] => HV: They move in phases and isolation. Check for Padmalaya Tele & Sri Adhikari.
[05:25:56 PM] => MA-rao : Your views on e-Serve International?
[05:26:54 PM] => HV: It is in monthly up trend. Let it be clear, its exponential run is over.
[05:27:20 PM] => Sachin_w : Is the pumps scam going to derail the disinvestment process, at least in petro companies?
[05:28:15 PM] => HV: May be
[05:28:27 PM] => Madhusudhan : How do you rate the RIL and Reliance Petro post Ambani?
[05:29:40 PM] => HV: Might not gain substantial heights.
[05:29:53 PM] => Sanjays : Which stocks look good short-term?
[05:30:31 PM] => HV: Infosys for very short term, Apollo Tyres, Bharat Electronics, Container Corp, Geometric Software, SBI, Wipro, BHEL
[05:30:48 PM] => Sanjeev : Please comment on IPCL?
[05:30:59 PM] => HV: Exit on spurts.
[05:31:09 PM] => Anil Nair : At what level can one enter in to the market? Are the current level going to go down further?
[05:31:49 PM] => HV: Preferably, around 2800 or below. If market moves up first above 3100-3200 then, exit pending stuck up long positions.
[05:32:00 PM] => Harshad : What is your outlook for the tech sector for the next 6-months?
[05:32:20 PM] => HV: Tech sector might move up giving trading opportunities. One needs to exit as well if it profits and not hold on to it.
[05:32:39 PM] => Kanwilkar_jayant : Do you see interest rates coming down further?
[05:33:17 PM] => HV: Yes
[05:33:29 PM] => Kurien-kt : Given the current scenario, what do you recommend to invest in - old economy or new economy?
[05:33:49 PM] => HV: Old economy/ New Economy 60:40 ratio
[05:34:00 PM] => Pushkar : Which are the sectors that you are bullish about and where are you bearish?
[05:34:34 PM] => HV: Power, Selected PSU stock, Automobile, Banks - Bullish. FMCG - Bearish
[05:34:53 PM] => Sankar_mp : What do you think for the market in a one-month horizon?
[05:35:09 PM] => HV: To move between 3200-2800
[05:35:22 PM] => Ketan_k : Is this the right time for stock-picking?
[05:35:39 PM] => HV: Depending on stock. Prefer to wait for 2800 levels.
[05:35:52 PM] => Manish90 : When do you feel the current down turn would change?
[05:36:10 PM] => HV: Possibly by Septemberí02.
[05:37:03 PM] => vik_deep : How is geome-serve at this level?
[05:37:16 PM] => HV: A pull back rise in the stock could be witnessed. Expect at least Rs 431 in days to come. Traders need to maintain low of Rs 308 as stop loss for all long position in the stock old or new.
[05:37:27 PM] => vikas : Can Infotech Enterprises be bought at these levels ?
[05:37:54 PM] => HV: Minor pull back, exit rally possible and has already witnssed one.
[05:38:13 PM] => vikas : Polaris with one year prospective looks good or not ?
[05:39:00 PM] => HV: Accumulate the stock at current level and keep room to add at Rs 139 if the opportunity arises in days to come. The stock could fluctuate between Rs 285-Rs 139 during the year or over period of one year.
[05:39:51 PM] => vikas : Which stock/sector you advise after say another 100-150 points fall?
[05:40:00 PM] => HV: Old economy or the heavily oversold stock at that time.
[05:40:47 PM] => BULBUL : Can we buy Infotech Enterprises, Polaris , E-Serve And Geometric ?
[05:41:05 PM] => HV: Polaris you can buy and accumulate at lower level. Geometric need to buy and sell quickly or exit.
[05:43:42 PM] => Safdalal : What is meant by weekly bar reversal ?
[05:44:02 PM] => HV : Weekly Bar Reversal can be Downward or Upward Weekly Upward Bar Reversal: Current Week's Low is lesser than last weeks low and close has to be at least higher than Last week's close. If the close is above the last week's high than the Weekly Bar reversal will be strong.
[05:44:44 PM] => Weekly Downwards Bar Reversal Current weeks high is higher than previous week's high and close is lesser than last weeks low. Close below last week's low will be a strong downward bar reversal.
[05:44:57 PM] => Mansuk : Your support and resistance levels on >the following Reliance, HLL, Infosys, Satyam,
[05:45:42 PM] => Reliance : Support - Rs 200.
[05:45:52 PM] => HLL : support - Rs 163-Rs 159.
[05:46:02 PM] => Satyam : Resistance - Rs 213-220
[05:46:09 PM] => Digital : support - Rs 535.
[05:48:35 PM] => Myiris : Thatís the end of the chat session for today.
[05:48:41 PM] => Myiris : Thank you all for logging on.
[05:48:48 PM] => Myiris : We thank Mr. Hitendra Vasudeo for his time and valuable inputs.
[05:49:00 PM] => Myiris : Hope to see you again on Friday for our next chat session.
[05:49:07 PM] => Myiris : Till then its bye from us.