If you are into IT/Software Sector or say in any sector and can bring overseas contracts (or any domestic business related to the software sector), with a stress on Digital Marketing/Content Writing/Website Development/Reputation Management/SEO/SMM, etc, then you can join me as a partner or associate.
We will give you, the business development portfolio and pay you handsome amounts for your efforts. It does not matter, in which part of the world you are, as long as you can bring businesses. If you are interested, please send me at mail at: suman2005s@rediffmail.com.

Saturday, March 18, 2017

Reliance Communications: The Future Telecom Godzilla
CMP: Rs.38.25
The stock of RCom has been on a steady upmove since the last few days, as Reliance Jio (RJio) is scheduled to start its Paid Service from next month. This has again brought the stocks of Telecom companies into Focus. The scrip of Idea Cellular (Rs.108) has almost doubled from its 52-week low price of Rs.65.80, due to Vodafone news. Following similar positive trails, the share of RCom is also expected to touch Rs.71-72 in the next 6-9 months time. I have ben saying since sometime that it should not go below Rs.30, and till date, this has not been violated (52-week low: Rs.30.60 in the NSE); which somewhat attests to my buy on declines stand.









RCom already has enough of the luctrative 800 MHz spectrum necessary for 4G transmission, and which it shares with RJio. Also, as RJio expands it will benefit RCom, as the former is using latter's network (infrastructure), at a price.

Now if we look at the chart of RCom, we can see the formation of a Dragonfly Doji like pattern on the uptrend (though, not exactly).  

It will pertinent to mention here that Thomas N. Bulkowski in his book, Encyclopedia of Candlestick Charts wrote:

"The dragonfly doji is an interesting name for a candle that is supposed to act as a bullish reversal. It is a reversal candle, but only half the time. Random, in other words. If you see a dragonfly doji in the bush, do not be frightened. The 10-day performance after the breakout ranks it 98th out of 103 candles, where 1 is best. In other words, ignore it. Its bite is usually not fatal. Usually.

The dragonfly doji is an interesting name for a candle that is supposed to act as a bullish reversal. It is a reversal candle, but only half the time. Random, in other words. If you see a dragonfly doji in the bush, do not be frightened. The 10-day performance after the breakout ranks it 98th out of 103 candles, where 1 is best. In other words, ignore it. Its bite is usually not fatal. Usually".

Therefore, I feel the traders should continue to accumulate RCom, for immediate targets of Rs.54 - 55 - 57 - 60, from where it fell -- the good days are to return for the shareholders of RCom.

Post a Comment