Tuesday, January 12, 2010

Tata Steel

Author: Ilango | Posted at: 9:51 PM | Filed Under: |

2 comments:

Kapil Chopra on January 12, 2010 at 11:18 PM said...

Dear Ilango,

I am sorry I missed your birthday ! Wishing you a Happy & Prosperous year ahead !

You are such a patient teacher, i always wanted to learn TA but the hours of my job do not allow me to do so, I do with ahtever I can gather in the evening from your blogs. I do recieve all the updates thanks to you. Try and take positions for a week or so like sold 5500 calls at 25 and now sitting without monitoring, lesser returns but cannot monitor in a job like mine !

Your analysis on Tata Steel is so accurate. You said it will go closer to 650 -700 a month back and it rallied from 550 then ou said it will correct from 650 and it did !

I am fundamentally bullish on this share, although I believe the results are priced in for now, do you think if it hold 590 or so, it makes sense to buy a February Call of 620 or 640 for limited risk and a return option ?

Or your opinion on TCS & Dish TV if you track ?

Ilango on January 13, 2010 at 5:46 AM said...

Hi..Kapil,

Thank you.

If you want to play Tata steel, wait for it to come down closer to 600-610 and then put your strategy to work.

As for IT stocks, they are at the near final stages of this uptrend. With their trend being up and with limited upsides in the short term and without a sell signal or a reversal, you could play them only when you monitor them live. Better to wait for this results to be out. I will update later on TCS. I do not track dish tv.

You are still taking it safe by writing out far series calls. I understand your predicament of working in a "Pressure cooker" industry as I spent most of my years inside the same "cooker".But I do miss the excitement of Hotel Industry and meeting a whole lot of people.

Best regards.

ilango

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