Day Three analysis

I have been a bit busy the past couple of days, some things kept me away from the monitor. Trust me, I am not complaining! It's good to take a break once in a while. Although I have only recently started 'penning' down what I analyze, I have been trading for quite some time. So once in a while I just step away from the computer and relax with family and friends. This was one of those occasions. And the way I trade helps me continue living this way.

Anyway looking back on my analysis of Day Two, I had given this call:

"Sell Hindalco, Entry 112. Target 106, 104. Stop Loss 114.

Hindalco is coming out with their quarterly results today. I don't know what to expect out of it but I hope that it will be bad. Yes I'm quite the pessimist. So even if the results are good 114 should be a good point to exit. Yes it is a gamble that i'm willing to take since the risk is very minimum."

Hindalco hit a high of 111.4 and is trading at 102.3. Need I say more? Maybe, next target: 97.

Here are some of the stocks that I might be trading with on Monday:

1. Buy Infosys, Entry: 2410-2420. Target: 2540+. Stop Loss: 2360. ETA: 2 weeks.

Well it's quite simple really, N. R. Naranyan Murthy!

Yup he's back folks and the stock already accounted for his return on the 31st of May. Infy opened at 2342, day low, and never looked back, touching a day high of 2434.9 and closing at 2411.7 (that's +63).

OBVIOUSLY it was a coincidence, right? Right? Next.

2. Sell BHEL, Entry: 201-202. Target 197.5. Stop Loss: 204.3. ETA: 1/2 days.

3. Buy RelianceInfra, Entry 360. Target 370. Stop Loss: 356. ETA: 3 days.

I don't feel too good about RelInfra though. If the market starts falling you can see levels of 350 and below on Infra in the next two trading sessions.

Good luck trading and may the market be with you ;)

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