Wednesday, August 26, 2009

Day Trading with Bulls Eye

Bulls Eye Fun

Today, wednesday will be my third day in the Game Show, Bulls Eye, shown on CNBC.

I will try to explain the reasons for stocks selected on Monday and Tuesday.

Monday

Infosys - The markets are expected to open strong on Monday on the back of higher prices in the US markets. Infosys, has seen a small correcion, therefore qualifies as a buy on dips stock + outperform due to American gains.

SREI Infra
A deep correction in the stock may be over. Infrastructure remains flavor of the season.

Orchid Chem - This stock was also dsicussed in the 'Top 5 Picks' section in CNBC, in the previous week. A bullish head and shoulder pattern is on the verge of breakout.

Grasim - After strong rally, we saw a deep corrction. This seems to be complete with two days of sideways movements. The previous rally may resume.

Tuesday
Essar Oil - Remains inside a range after deep correcion, while CAIRN, ONGC have moved up. With crude seeing gains, a breakout from the range is possible.

Dolphin Offshore - Narrow sideways range near the highs in the chart suggests consolidaiton before strong breakout to new highs. And, of course, 'Offshore' is the magic word.

GE Shipping - Inside a trading range, may breakout keeping in mind the upbeat markets.

Welspun Gujrat - A trading range at the top of the chart has a bullish head and shoulder pattern. May outperform the broad market.

Targets:My targets were set for small modest gains, as a day trader was likely to do. In real trading, profits are taken in segments, or trailed, with some quantity left to ride the bigger trend. But, in the game show this is not possible.

Avoid:I decided to avoid the 5% circuit stocks. You name them and they hit a circuit early morning. While these qualify as gains for the show, viewers cannot actually buy them. So, I decided to avoid such stocks, and keep to the spirit of the game.

Basic Theme: The underlying theme is - stocks that are in an uptrend but seeing a dip, OR, stocks that are in a trading range with signs of bullish breakouts.

If you have questions, please post them in comments.
Cheers!

12 comments:

Prabhdeep said...

Dear Sudarshan Sukhani
how i make profit by intraday trading
can u tell me day trading secret





thkssssssss
Prabh

sandeep said...

dear sir
can u plz tell me which stocks and call of nifty u give in day vinayak.

i am interested in day v


thanks
regards

gourav said...

Dear Sir,
Manny manny happy returns of the day.Happy birth day.
I attened investorcamp in chennai and clarified many of my doubts by u.
If u could remember me i am a software engineer In TCS.Thanx for your valuable suggestions and advice.

Thanks and regards
Gourav

i-s.h-f--a--q said...

DEAR SIR,
Can u tell me that how i can check the trend of nifty in intraday..

i-s.h-f--a--q said...

dear sir
can u tell me the procedure of checking the trend of nifty in a intraday and support and resitances and the ranges
that wll be ur most kindness

Anirvan said...

sir,

Your tgt for Orchid Chem if i could ask

i am holding orchid bot at 105

K_Vir said...

Wish you happy birthday and great ahead year. Really appreciate your continued sharing of knowledge insights.

men said...

Mr. Sudarshan,
First of all congratulations on your Birthday.
On the bulls eye game show, you suggested orchid chem, as forming a bullish head and shoulder pattern, how do we determine the probable target in such a formation, could you please post a chart for the same as I feel an inverted head and shoulder pattern is forming (may be I am wrong) with the head around 78 and one shoulder around 140.
Finally could you comment on JSPL as you had recommended it earlier, is it still worth buying on declines?
Thanks,

just brooding said...

sir,
is it your birthday today?
many manyhappy returns of the day
regards
Dr.Sanjeev Mittal

shailendra said...

Sir,

Can you pls suggest 3 important points which every small investor must consider before carrying overnight Position of Put / call for the next day.

Pls. reply with your valuable suggestions.

Regards,
Sailendra Sharmaa

Priyanka said...

May i know if we want to give calls from our side for the show what steps & process we have to do


THanks
PRiyanka

Priyanka said...

how may we give our calls for the show

Thanks
PRiyanka