Hi JnJ,
JaiCorp. and RIIL and constantly going down, is there any news behind it, or do you think after few more lower circuits it is a good opportunity to buy again at lower levels? What is the prominent reason of Jai and RIIL hitting LC's despite is market going up?
I still not have lost my faith in JAI and RIIL as Big Time Players, just I guess they are looking for a trigger zone to CLICK FURTHER!, what are your thoughts on this?
I appreciate your soonest reply on this.
Regards,
MiLiND
Well, Milind, This is just part of the game. You have to take the UC with the LC. All know from where this stock has risen with corrections and consolidations in between. The trend of this stock is only one way -> up. Patience and Discipline is the key. I have only been a buyer in Jai Corp till now be it 700 to 4000 to 1500 to 7000 to 6000 to 26000 to 21000 levels.
Just check out with how many shares LC was being deliberately kept versus the the total traded volume , you will find it with about 1/10 only, this is no true LC where no one gets an oppurtunity to exit, just slow accumulation by big players. If one tries to sell his shares they are easily sold. Same goes with RIIL.
When the world came to know about the 2 cr block deal by the biggies, many players would have jumped to get a piece of the pie so is the range bound movement to accumulate more which could have further helped by the promotors who may not want the price to go up much maybe because a)Preferential allotment of shares to promoters on 17th Nov b)No graph of a stock can move in a straight line upwards, there has to consolidation and correction in between (remember Big Brother Sebi is watching)
And your question about at what point one can buy , I cannot guide you much there as I am no technical guy, I only take a fundamental view and at present those are quite strong in Jai, plenty of headroom left. I did not buy this stock to earn 30-40% so if you take a long term view on this you will get your answer. How about below 1050 onwards when the biggies bought more than 2000cr of shares.
My view only. Kindly take your own call.
Regards
jnj