In the first week of April 08, we had suggested entry in RPL at 177 for a target near Rs 210/-. The scrip made a high of Rs 206 recently.
If you have observed, the scrip has actually retraced the two-day crash of Jan 08 . It took the scrip about three months to retrace the 2-day crash...
Thus resistance is likely to be strong at current levels ( Rs 203-206) and the possibility of a down move from here seems higher.
Watch out for the Rs 198 levels below which further selling is likely. Also if it closes below Rs 197, expect a down target towards 186-183 levels in the medium Term !
Happy Trading !!
CA Rajiv D Khatlawala
4 comments:
Congratulations! and I admire your precision. RPL did acheived the targets today!
thanks as lot for your feedback
Today its worth around 180. Is there any further chance to get more dips. I mean any chance to go upto 150
RPL ...
a close now below 179.50 should lead us to the levels of 162 - 155 in medium term . . .
Till then expect sideway move . . .
CA Rajiv
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