One of the early morning news today was the Inox take over of Fame Multiplex. The 'consolidation' in the Media industry seems to have begun - and yes it remains one of my favorite sectors!.
Many people asked me whether they should buy INOX... Answer : for long term yes, but for shorter term better to concentrate on Fame. ...
The Fame price chart is surely interesting and also revealing. In fact the price chart reveals that the take over announced today was already known to 'some' players much earlier. But alas , our regulators don't know how to 'read' price charts!
The Fame price chart indicates buying on a break above Rs 48 with a risk of Rs 10/-. The target based on technical computations should be 65 initially and then near to Rs 80+ levels.
Not a bad trade .
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
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