Tuesday, December 18, 2012

Is this a Break Out ???

Dear All,

Nifty though broken 5838 and went down to comply with a-b-c-d-e for 4th sub wave. Todays chart seems like a Break out as the last fall looks like a truncated one.

Resistance at 5910 and 5930. Support 5840, 5823 and 5805.

>>Rpower<<< as given on 05th Dec,2012

Rpower given on 5th Dec as a Break out. Stock did not performed till now and hovering around 100-101 range.

Reliance Power was down nearly 2 percent intraday on Tuesday as its promoters are going to sell 5.42 percent stake in the company via offer for sale (OFS) route on December 19.

The company said its promoters Reliance Infrastructure Limited, Reliance Innoventures Private Limited and AAA Project Ventures Private Limited will sell 15,20,51,807 equity shares aggregating to approximately 5.42 percent of the paid up equity share capital of Reliance Power Limited through a sale on the separate window provided by the BSE.

The sale shall commence on December 19, 2012 at 12 p.m. and shall close on the same day at 3 p.m, according to release sent to exchange.

Floor price shall not be publicly disclosed by sellers. Axis Capital is sole broker to the stake sale.

Lets wait and See!!!