Asian Oilfield Services

[yasirsait]

To start off with, this stock is in the drilling sector which is one of the current flavors of the market.

Asian Oilfield Services:
Year ending March '05 saw Total Income of 7.96 crores which translated into net profit of 0.32 crores.
March '06 - total income 10.40 crores and Net profit 0.62 crores.
This is a growth in income of 30.65% and in net profit of 93.75 crores.
Year end March '07:
Total Income - 27.69 crores - growth of 166.25% over last year.
Net profit - 4.58 crores - growth of 638%.

Since the past 3 months, the stock has gone from a low of around Rs. 40 to a high of 116. This is a movement of about close to 200%. However, I believe the stocks is nowhere near its true value and the best is yet to be seen.

Technically the stock made an all time high 119.25 but failed to close above the previous high of 116.25 which could act as resistance. The stock however, has moved up on 20/07/2007 on good volumes and hence the resistance of 116.25 should be surpassed easily and move on to a target of 140.

On a close above 116.25, buy for a target of 140.
On a fundamental basis, the longer term target would be in excess of 200.

Regards,
Yasir.

N.B. I do not hold any position in this stock at present but intend to buy on 23/07/2007.

 

[milindkuyilan]

way to go bhai.... Proud of you

 

[sagi.thediceman]

To start off with, this stock is in the drilling sector which is one of the current flavors of the market.

Asian Oilfield Services:
Year ending March '05 saw Total Income of 7.96 crores which translated into net profit of 0.32 crores.
March '06 - total income 10.40 crores and Net profit 0.62 crores.
This is a growth in income of 30.65% and in net profit of 93.75 crores.
Year end March '07:
Total Income - 27.69 crores - growth of 166.25% over last year.
Net profit - 4.58 crores - growth of 638%.

Since the past 3 months, the stock has gone from a low of around Rs. 40 to a high of 116. This is a movement of about close to 200%. However, I believe the stocks is nowhere near its true value and the best is yet to be seen.

Technically the stock made an all time high 119.25 but failed to close above the previous high of 116.25 which could act as resistance. The stock however, has moved up on 20/07/2007 on good volumes and hence the resistance of 116.25 should be surpassed easily and move on to a target of 140.

On a close above 116.25, buy for a target of 140.
On a fundamental basis, the longer term target would be in excess of 200.

Regards,
Yasir.

N.B. I do not hold any position in this stock at present but intend to buy on 23/07/2007.

Yasir

Looks interesting

Please give the code. is it a bse stock?

I wan to have a look at it


sagi

 

[yasirsait]

Yasir

Looks interesting

Please give the code. is it a bse stock?

I wan to have a look at it


sagi

Dear Sir,

It is a bse stock.

The code is 530355.

Respects,
Yasir

 

[yasirsait]

The short term correction for Asian Oilfield Services continues.
There was an immediate support of 104 which was taken out today however this lower movement was on the back of lower volumes - a sign that the stock is consolidating.
The next support is at 100.
Investors can add on dips.
Momentum traders, do not enter the stock just yet. Wait for the stock to find support and start moving up. We can then enter as it trends upwards and ride the trend.

Peace,
Yasir

 

[abinanthanb]

Yasir,

If it breaks above the today's closing price, shall we enter? I am looking for a short term trade, say for a week or 2.

Thanks
abi

 

[yasirsait]

Yasir,

If it breaks above the today's closing price, shall we enter? I am looking for a short term trade, say for a week or 2.

Thanks
abi

Dear abi,

What you are looking for is also know as a momentum trade. Asian Oilfield is not ripe for a move right now. It could even move around 85 in order to cover the gaps formed earlier.

I would suggest you consider the following:
XL Telecom - Buy aournd 130 target 140 / 155.
Stelco Strips - Buy between 36 - 37 target 43.
Ruby Mills - Buy around 910 target 990 / 1100.

Success,
Yasir

 

[yasirsait]

Dear abi,

What you are looking for is also know as a momentum trade. Asian Oilfield is not ripe for a move right now. It could even move around 85 in order to cover the gaps formed earlier.

I would suggest you consider the following:
XL Telecom - Buy aournd 130 target 140 / 155.
Stelco Strips - Buy between 36 - 37 target 43.
Ruby Mills - Buy around 910 target 990 / 1100.

Success,
Yasir

Not only the above 3 stocks but Asian Oilfield also spurted today.
It seems Asian Oilfield has taken support at 102 and moved up.

A buy for long term could be initiated at current levels with stop loss around 100. However, I would be comfortable taking a short term momentum position only above 120.

For the other stocks, above mentioned targets are on. Hold.

Peace,
Yasir

 

[yasirsait]

Not only the above 3 stocks but Asian Oilfield also spurted today.
It seems Asian Oilfield has taken support at 102 and moved up.

A buy for long term could be initiated at current levels with stop loss around 100. However, I would be comfortable taking a short term momentum position only above 120.

For the other stocks, above mentioned targets are on. Hold.

Peace,
Yasir

For Asian Oilfield, a new support seems to have formed around 108. Resistance comes in at 117 / 120. A close above 120 will take the stock to 140 in the least. Hold with a stop loss of 100.

Peace,
Yasir

 

[yasirsait]

Since my recommendation, I am holding onto Asian Oilfields, XL Telecom, Ruby Mills, among others.
I hope the others have enjoyed as well.
Goodbye and God Bless.