This one was expected but not so early , it dropped heavy , No need to look back if price starts moving up , it has just broken the Head & S Pattern its probably run till its start of 1st Impulse , Any reversal sign on daily or weekly , Look for sell set up Hope it will move fast before the Next Elections
Trade active
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yeeehaaaaaaaaaaaaaaaa, so far form 944 to 910 , One can look for reversal to cover your short trade on daily or 1 hour basis and then can go short once makes a pull back peak and reverse Keep booking your profits
SBI bought 2% at 1500 ! Do you think they did not know what they were getting into? I think at best we might see 850. But if it goes down to 500 boy somebody will pissed for making that buy call at 1500 !
shiv2798
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@rubixqube, Sir , Yes You are right SBI have bought it for 1500 and they Know why they bought it , any Industry when they start banking sector will Finance them in terms of Millions , and when they are financing they are funding Public money , and in order to secure public money bank have trust ( A Board Members ) which will decide how the financing is going to take place and how the recovery will be , when they complete the Finance in Millions to such Industry, they tend to offer Foreign/domestic investor to step in for acquiring the equity as long term investment , this company had FII investment with lock in period of X years , once the X year is completed and FII/DII want to exit then the Bank is total responsible to buy back the shares of FII/DII on Market value , its Bank which financed and its bank to look after, as Big bank , they Never have issues because the Finance what they make is they are earning interest and dividend ,
So we are retail and we are not banks or institutions , Take your decision when this scrip is moving in your forecast direction ,
Good luck
rubixqube
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@shiv2798, Interesting insight. Never thought it like that. I wont enter this script unless I see consistency in Q1 and Q2 results. BTW the promoter stake is 70 % i mean if the stock is going is going down like this aren't they the biggest loser? BTW are you tracking Cadila too? ALso would like your views on LT foods, it has a similar fall structure. Please can you have a look at that too?
shiv2798
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@rubixqube, L & T Food i was Looking one more move up before heading for down ward trend , but Friday drop seems to be more sell off , It may crack once brakes the Friday low ,
rubixqube
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@shiv2798, LT Foods has been seeing a sell off since the q4 result announcement, from 84 to 67. So how much more do you see?