Almost a month back, I had mentioned short term trading targets of Rs.177 and Rs.190. The stock closed at Rs.177.95 on 05-Oct and achieved the first target. It almost achieved the second target of Rs.190 by closing at Rs.187.10 on 13-Oct. Yes, the stock has fallen from that level, but the next target I see on this equity is Rs.200.
I had mentioned several targets on this stock for 3-6 months period; however, the stock has not been able to move up yet. It closed today at Rs.153.15; it seems that there is still some selling pressure on this stock. The support level for this stock is Rs.145, but if it breaks this level then it will have a sharp fall. I am still optimistic about this stock as it has been consolidating since many months and should move upwards.
I had mentioned Rs.1200 and Rs.1400 targets on Reliance a few days back. The stock closed today at Rs.1090.35 and will see my targets soon.
On 04-Oct, I had mentioned that this equity is in downtrend and may see Rs.72 within 1-3 months. The stock has fallen from that day’s closing of Rs.89.20 to today’s close of 81.40. I see Satyam to bottom out soon, so a smart investor should soon start accumulating these shares.
On 28-Jul when this company’s IPO was on, I had mentioned that this equity will be a good investment opportunity. However, there are several bad news on this stock due to which the stock has been declining. Today the stock has made its new low, therefore I strongly recommend stay away from this stock for at least 1-2 months.
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