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 bhusbhac |
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| About me: On 17th January, 2008 Reliance came out with the results for the quarter ended 31st December, 2007 which translated to an EPS of Rs 55.56 for the quarter.
The following is the quarterwise performance of last 5 quarters latest on top:
55.56
27.23
23.47
20.41
20.08
The following are the OPEN and CLOSE figures between 17th and 22nd January, 2008
22-Jan-08 2,352.25 2,360.70
21-Jan-08 2,779.80 2,558.00
18-Jan-08 2,975.00 2,800.00
17-Jan-08 3,159.00 2,977.00
We are now roughly at the level of 22nd January, 2008.
Needless to say results of several other companies were treated with the same impunity.
However of significance given the events after 14th January, 2009 is that Reliance peaked just before the results to 3200+.!
We are least related to DOW over the past 5 years but all of a sudden we started coupling with concerns in the US Markets. Now we are decoupled with disastrous consequences!
On Friday 28th, March, 2008 we were confronted with the inflation figures of 6.5% plus. There was a pause for a good 15 to 20 mins and hey presto the market started shooting up on the announcement!
On Friday 4th April, 2008 we were confronted with the inflation figure of 7.0% only 0.5% above the previous week. That made us tank by 2.5% and although DOW and Hang Seng have made up considerable ground we tanked over 6.5% duringt he last week!
The announcement of BHEL results were nowhere negative but we already tanked over 30% and this stock took an excessive hammering of 22%!
Now always note a small negative figure is blown out of proportions and even a high positive is IGNORED wholesale.
So it is quite tough to trade in a market like this where money power of the FIIs are playing havoc to mop up profits on BOTH sides. This is not the time and place for speculation so the logic seems to be keep invested, don\`t sell cheap and let the market stabilise for 2 weeks and things will start normalising and DIIs will find justification to start investing in this market.
If the volumes have come down it is for a good reason since there would a class of investor`s who will not sell come what may even if Reliance shot up to Rs 5,000 overnight!
So bears do you want to continue to be part of this came only to be massacred at the time of the FII`s choosing?
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| Boarder Level : Gold |
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Boarder Since : 2nd-Feb-2008
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| Posted 363 messages to date |
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