Thanks to July Inflation data??? which was lower than expected 6.87 and hope raised from RBI that it may cut Interest Rate. Overall, food inflation declined to 10.06% in July, from 10.81% in June which added more hopes from RBI and Helped Nifty to Rally 32 Points.
>>>NIFTY<<<
Lot has been discussed about Nifty earlier - Sill can't able to close above 5386. The Give Chart shows a Inverted Head and Shoulder Pattern - a Close above 5386 for a Day or two may give effect, or else a fall as I was writing for last 10 days can't be avoided.
Any one new to this blog may refer earlier post for more clarity.
>>>> Adani Ent <<<<
Adani Enterprises - A Buy call given to Members @ 186 which Rallied upto 192.7 and Expecting a More rally in coming days too. One can Buy for short Term Rally which is a Safe Buy from current Levels for an Upmove upto 20-25% return in Short term.
>>> R-Com<<<
I'm Bearish on Rcom for quite some days - Gave a Sell call below 55.5 - after it touched 53.75 - Gave a Hand Some return as the lot size was 4000. Approx Rs.7,000. Even Now Stock looking very Bearish as I feel that a 3rd down wave is going on.
India's Number two Mobile Operator by Subscriber Based Company is Unable to raise capital to Manage its 7 Billion Debt - Scrapped its IPO Plan in Singapore for 1 Billion due to Choppy Market Condition
Now Rcom has applied for a Loan of 30 Bln from Indian Largest PSU Bank - State Bank of India and also need INR 10 Bln to meet its Capex need in Fin Year 2012-13.
Raising Uncertainty in Telecom Sector and falling Profit - Huge Capex Need and Biggest Debt made the company to look Unattractive and I feel it may touch 47 and even 42 in Short term.
Lets See. Cheers!!!
