Delivery Letter  (For 3rd July 2008)

 
 

We buy deliveries of stocks when midcap index is in buy (midcap index is in sell) and percentage of shares above support are more than 50% (today they are 8%).We do not do bottom fishing and do not buy deliveries in a falling market as we believe that there is no end to a fall, just as there is no end to a rise. When we perceive a signal for delivery, we buy 5 to 10 stocks technically the strongest of that time and go on holding them till the signal remains or till when more than 50% stocks are above the support level. Our intention is to take the full trend. Some of us might want to consider fundamentals also while buying stocks for delivery, but, we believe that technical reflect the fundamentals also.
Midcap index is still in sell and the percentage shares above support are below 50% (today they are only 8%). When both the parameters seen while buying and holding deliveries are negative then we do not buy deliveries. We had quitted all our deliveries on 23rd May

Find below a list of technically good stocks for those who wish to trade in deliveries by buying them whenever there is fall in some stocks and take profit in them of 10% target from the buying price.

 
   

But invest only 25% of your capital in them, do not invest full when either of the parameter (midcap in buy and the percentage of above support is less then 50%) is not fulfilled. 
These are the stocks which are technically the strongest in the market today. But they can give a correction also before moving so the best is to get them at their nearest support level which is mentioned in front of them. The stop loss is also mentioned but this stop loss is a closing stop loss. Ideally the stock should close below the stop loss 2 times at least, then in that situation you quit. Wait for any panic in market and when you get these stocks near support buy them. Always keep this letter with you and collect the last 4 to 5 days letter and go on observing the stocks which you get near support. Target a profit of around 10% in them from their support level. The names of stocks in this list will go on changing everyday so that you are always aware of the best stocks in the market.
Sr. No (priority wise) Share Name Closing Rate on (2nd July, 08) Support Stop loss
1 CAMBRIDGE SOLUT 60 59 57
2 Financial Techno 1808 1698 1670
3 Can Fin Home 75 71 70
4 KOHINOOR FOODS 101 100 99
5 Geodesic Info Sy 175 168 167
6 Glaxo (I)Ltd 1135 1118 1114
7 Guj.Heavy Ch 69 68 67

 For quick reply email to neera@crnindia.com
Disclaimer : Trading in stock market is very risky and there are every chances of making losses.