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Stock Watch-Reliance Capital

Thursday, November 8, 2007 Leave a comment Go to comments

Reliance Capital is looking extremely strong in this falling market. This might be a good short term bet on the long side. Watch out.

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  1. sagecapital
    Saturday, November 17, 2007 at 5:15 pm

    Shashi- The stock might have bottomed out at 400 but it is not showing upward momentum. Once 520 is crossed, then 600-650 is possible. The coming week might be crucial in determining if it does that or not.

  2. Saturday, November 17, 2007 at 5:10 pm

    should i wait or exit Everonn systems bought at Rs;770/-

  3. amol
    Monday, November 12, 2007 at 4:00 pm

    Can you tell what’s meaning of short term bet on the long side?Please

  4. sagecapital
    Thursday, November 8, 2007 at 7:25 pm

    Share- I don’t think ICICI is exposed to any sub prime stuff. It might just be a sentiment driven correction. Plus as FII selling is continuing, this is one of stocks most owned by the FIIs.(This is just an intelligent guess)
    Infact, I had taken some short term bets on SBI and booked profits around 2200 levels. I am advising clients to increasing cash allocations in their portfolios before any financial tsunami strikes. Clients have made 10-30% in last couple of days,so it is prudent to preserve the profits and reduce the bet sizes.
    To be honest with you, I am feeling little uncertain about markets at this point of time-especially in the medium term.My stance is little more bearish than bullish.
    So I am not going to “outsmart” the markets, just listening to them. Look what happened to those ‘smart” analysts who entered Infosys at 2400 and are still recommending buys!
    While buying the “dips, you should keep in mind that while Indian growth story might continue,lack of liquidity can bring down the average valuations.Read my earlier post:
    https://sagecapital.wordpress.com/2007/08/12/can-markets-go-down-even-while-remaining-fundamentally-good/

  5. sharesingh
    Thursday, November 8, 2007 at 7:08 pm

    Hi Sage,

    At an out set happy Diwali.Next come to ICICI bank , why it is correcting these days.Is it part of sub prime story?

    Regards
    Sharesingh

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