Well, the rally just fizzled out like last time, why?.Yes a...

Well, the rally just fizzled out like last time, why?

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Yes a disappointing week for SYA, a drop from 5.3 to 4.2. We couldn't cross the high of last week 5. 6, and unfortunately, the whole week again reminded of the trading which is happening for sometime - a weak play.

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Last week I had written I did not understand what happened on Friday, the big auction of 40m. I had thought unless we understand that, it's difficult to make a prediction what may happen next. I had written we have to hold 5.1 and in worst case 4.8, otherwise I would not be comfortable. We we sold down. Now another uphill task.

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So is there anything positive? For a long time we were playing around 3.3 level. 4.2 is a test now. So much higher test than bottom play. That is the only positive I can find for now. We are drilling, that could give us a boost though.

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Personally I let go my shares at 4.9 average when it looked to me 4.8 may not HD. My buy average was 4.1, so small gain. Last trade few months back, I sold at 4.1 with my average buy of 4. 6. So effectively my gain neutralise the loss from last time. As I have written, my holding, buy sell is not going to change anything. Best I can try is to play the big entities. I had mentioned the numbers last week, indication of where I might play. Sometimes I get a lot of flak for selling on other threads, believe me I am not responsible for what is happening. I hope one understands.

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So what may happen next week? 4.2 is for me is a significant number. I am hoping it holds. Last 3 days we have been toying around that, it has held for now. If not, 3.8 comes into picture. Going up, to cross 4.8 and then, more importantly, 5.1. Unfortunately, general markets are looking very iffy. Li macro is again looking weak. My ALB, had lost the neutral level of 128. It is now what I consider is a weak zone, for ALB, for the sector. It needs to get over 128, otherwise 118 is in play, next we could be talking 52 week lows. Let's hope it doesn't go there. Above 128, into 130s will help a lot of Li stocks including SYA, unless we have a news of our own. Let's hope it plays out that way. Enjoy your weekend and all the best.