Wednesday, June 08, 2016

DO YOU KNOW?

If this deal is completed then according to an earlier news, about 75% of the company's debt, will be cut, boosting the fundamentals tremendously. Post completion of the said issues, the scrip could cross Rs.120 and even break 52-week high made in January, 2016.

Seeing such bright prospects, it seems the prudent investors have started to take LONG positions in the counter (in BULK). The build-up in the stock futures has resulted in the NSE putting the contracts under ban in derivatives for exceeding the permissible limit of positions in the counter. 

Reliance Communications Ltd's shares have been on the rise since yesterday, up more than 2% intra-day (today), with an increase in OI (a very BULLISH indicator). If this rise in OI continues with a rise in the price of the scrip, then we can look for short term target of Rs.60-61.

The investors are therefore suggested to buy at least 10, 000 (ten thousand) shares of the company and keep holding. This share alone will be able to cushion, a majority of your earlier losses (if any). 

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