All suggested Targets in Reliance Infrastructure achieved!!

                                                                                                                                   6:25 pm, 23/2/2011

Hello Everyone,

I had recommended Reliance Infrastructure for accumulation at the rate of 615. Two targets mentioned were 645 & 680. In spite of immense bearish mood and volatility in the index, the stock today achieved and surpassed both the targets. It made high of 710 and has finally closed at 698.

Congratulations to those who participated with conviction.

I am getting few mails asking me to update the writings and give recommendations very often.

Well, this site is no where site for Day Trading. When recommending, at any moment, the holding period should be at least one month plus. Secondly, I have to wait for the right opportunity { price} and moods of the market before recommending.

Coming back to Nifty, as long as it is above 5400 there should be no worry.

Big trouble can emerge if Nifty breaks 5400 with volumes. So keep a watch on Nifty.

With right price and opportunity, I will be posting my next recommendation.

Till that time hold your Cash Tight.

Happy Investing Safe Trading.

Kishore

Accumulate Reliance Infrastructure Ltd........615.

{ 8:15 PM, Saturday, 12th Feb }

Hello Everyone,

Nifty broke major support level of 5400 on 7th Feb triggering all round selling. Nifty breached the levels of 5200 but did bounce back from there, finally closing at 5310 on Friday, 11th Feb.

Renuka Sugar gave movement on both sides, touching 80's on lower side and crossing 93 on the higher side.

ADAG stocks were in limelight because of all the wrong reasons. Lot of rumors were floating in the market related to summon from CBI thus plummeting ADAG stocks to 52-Week Lows.

Worst affected was Reliance Infrastructure giving fall of more than 23% in a day. The stock went sub-500 levels but did bounce back in last two days, finally closing at 615. Once the clearance came from the management, stock gave short covering, shooting past 600 levels.

FnO Data is suggesting more short covering to come in coming days. Monday is the day of results and a board meet on buy back. In anticipation of good results with any positive development, stock should witness huge short covering and some long built-up.

Stock should be accumulated in two tranches, first at CMP of 615 or any comfort price available on Monday and second sub 570 levels.

Stock should give Targets of 645 and 675 plus in coming days.

As far as index is considered levels of 5400 are very important levels. Major moves will come above 5400 only. As long as index is below that, markets are in weak hands suggesting steep downfalls.

Happy Investing-Safe Trading.

Kishore