I am sure my blog readers got hold of Rcom and IDEA and also the Sugar counters ! (I can already see the smile on your faces).....
Well, the Telecom sector is seeing buying interest at attractive levels and the one stock which is yet to move is MTNL.
Like its peers, RCom and IDEA, MTNL too is witnessing huge volumes near its previous low and this can be a chance to pick up a corrective upmove.
Watch for a break above Rs 57/- for an entry in this stock with a stop placed at Rs 52.50 for a target intially of Rs 68- Rs 72.
Happy Trading
CA Rajiv D Khatlawala
www.investogyan.com
2 comments:
Rajiv, as you know already from many posts here that I am an avid follower of your blog. But your statement regarding Sugar counters is kind of misleading. You had suggested to buy BajajHind above 110 for a target of 130, but it failed and stop loss was hit and then it recovered. So, really it was a failed call on your behalf. Just wanted to point out. Nothing else.
Hope you understand.
Yes Rishi,
But what I was refering to was the general oversold condition which I indicated for Bajaj/ Renuka... (In BajajHind, the stop was hit but in my ongoing workshops we had evaluated a re-entry near the stop point- this was not mentioned on blog) ...
(One example of psychology of blog readers - is that no one cared to mention when Sun pharma gave the indicated move when markets were falling.) But don't worry - my 12 years experience as a consultant has taught me to live with such things...
People will not remember 10 good calls but they would surely remember one bad one!!!!
CA Rajiv D Khatlawala
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