Delivery Calls
- Thread starter Jai.Shewaramani
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GOOD NEWS OR FALSE ALARM? YOU DECIDE...
The Sensex took support @ 9609.21, the 61% retracement level as mentioned in my previous report (9611) and it rose to 9756.76, thus confirming the strong support at this level. The question that arises now is whether this support will be able to sustain the massive selling pressure in the market. If this support is broken, then we'll definately see 9000/9200 levels. Sensex has moved into highly oversold areas and the momentum seems to have turned upwards in the daily charts. So a bounce back to 10,500/11,000 levels remains a reality, provided 9611 stays intact. But only a break above 11,150/11,200 will confirm that bulls have an upper hand in the market. Tomorrow, a rise above 10,050 can take the Sensex towards 10,190 levels.
Jai Shewaramani
The Sensex took support @ 9609.21, the 61% retracement level as mentioned in my previous report (9611) and it rose to 9756.76, thus confirming the strong support at this level. The question that arises now is whether this support will be able to sustain the massive selling pressure in the market. If this support is broken, then we'll definately see 9000/9200 levels. Sensex has moved into highly oversold areas and the momentum seems to have turned upwards in the daily charts. So a bounce back to 10,500/11,000 levels remains a reality, provided 9611 stays intact. But only a break above 11,150/11,200 will confirm that bulls have an upper hand in the market. Tomorrow, a rise above 10,050 can take the Sensex towards 10,190 levels.
Jai Shewaramani
Sorry for barging in a question directed to someone else. What prompted you to buy RPL at Rs.89? Even at Rs.60/- (in my humble opinion) it is expensive. You may note the fact that no ground work for the proposed refinary has started as yet. Production is far off in schedule sometimes in 2008 or so. Until then no profit, no dividend, no EPS. And, if the earlier experiences with Reliance were to be taken as a clue, once production begins and profits begin to flow, RPL might be merged with reliance industries and if that happens, you will be given a few shares (which you may in all probability) which you can count on your finger tips. I just remember a comment made by American on TV channelon the eve of RPL public issue. He frankly told that he is not going to pay a huge premium of Rs.60/- just for the name of Mukesh Ambani. Mera Sapna, Sabka Mal Apna. 
That is the motto. Have you got the point? TV channels are such powerful media of propaganda that allmost all (except a few very intelligent) can be fooled with exaggerated claims and false propagandas. Have you ever seen even one dissenting voice expressing concern over the expensive valuations at the time of RPL issue? Rather, during the continuance of public issue all TV channels showed so many investors claiming that they have applied for the public issue to the maximum they can afford, that they will hold it for ever etc. etc. A sort mob frenzy or mob opinion was created conveying an indirect message to apply for the issue. My friend, this is shrewd business. Money matters lot. Campaign was managed very beautifully. Remember, a mob may consist of variety of persons, some of whom, if left alone may be very intelligent. However, there is what is called as mob psychology and mob thinking. This is the precise danger in the mob. This clouds the rational thinking capacity of even those otherwise intelligent persons in the mob and they too tend to easily agree with the mob without analysing the things, which they will otherwise normally do. I feel this is what has been done by TV channels during the public issue of RPL. If I have hurt your feelings, I am extremely sorry. Forgive me. I have seen many of my friends, vying with one another to buy RPL shares on the day of its listing at the price in excess of Rs. 100/-. I cautioned them, but it was of no use. I feel sorry for them. On seeing your query, I just could not control my feelings.
That is the motto. Have you got the point? TV channels are such powerful media of propaganda that allmost all (except a few very intelligent) can be fooled with exaggerated claims and false propagandas. Have you ever seen even one dissenting voice expressing concern over the expensive valuations at the time of RPL issue? Rather, during the continuance of public issue all TV channels showed so many investors claiming that they have applied for the public issue to the maximum they can afford, that they will hold it for ever etc. etc. A sort mob frenzy or mob opinion was created conveying an indirect message to apply for the issue. My friend, this is shrewd business. Money matters lot. Campaign was managed very beautifully. Remember, a mob may consist of variety of persons, some of whom, if left alone may be very intelligent. However, there is what is called as mob psychology and mob thinking. This is the precise danger in the mob. This clouds the rational thinking capacity of even those otherwise intelligent persons in the mob and they too tend to easily agree with the mob without analysing the things, which they will otherwise normally do. I feel this is what has been done by TV channels during the public issue of RPL. If I have hurt your feelings, I am extremely sorry. Forgive me. I have seen many of my friends, vying with one another to buy RPL shares on the day of its listing at the price in excess of Rs. 100/-. I cautioned them, but it was of no use. I feel sorry for them. On seeing your query, I just could not control my feelings.Muchikana,
I am sorry to say, but this forum is to meant to give advice, suggestions, and educate people who are new in this field, not to criticise their decisions and demoralise them on the bad decisions they have taken. Though I must admit that this piece was definitely an eye-opener for me as well as many others like me who have invested in this issue.
I have bought this issue @ IPO. After much hype and hoopla that it will touch 150 - 180 in the short term and will appreciate 20-30 fold in the long term (I dont know when), I have come to realise that this one is going nowhere (as you rightly pointed out, there is nothing for the company to show that will take its price up). What should be done with this issue NOW? Please guide on this...bhatke hue ko raah dikhao.
Thanks (and sorry if I hurt your sentiments),
Pranay
I am sorry to say, but this forum is to meant to give advice, suggestions, and educate people who are new in this field, not to criticise their decisions and demoralise them on the bad decisions they have taken. Though I must admit that this piece was definitely an eye-opener for me as well as many others like me who have invested in this issue.
I have bought this issue @ IPO. After much hype and hoopla that it will touch 150 - 180 in the short term and will appreciate 20-30 fold in the long term (I dont know when), I have come to realise that this one is going nowhere (as you rightly pointed out, there is nothing for the company to show that will take its price up). What should be done with this issue NOW? Please guide on this...bhatke hue ko raah dikhao.
Thanks (and sorry if I hurt your sentiments),
Pranay
Dear Pranay,
Please read my post carefully once again. At the time of writing it, I was in a fit of rage, not against you but against all those TV channels, company officials who orgainsed that fooling campaign to fool so many people at a time. You might have noticed that during that period when the issue was open for subscription, every news bulletin contained interviews of so called public, experts etc. stating that they have applied it, that they are going to hold it for very long term, that it is such a good company etc.etc. To put it in nutshell, only positive aspects were touted and all negative aspects were suppressed. We are watching TV news channels for unbiased impartial analysis. That is the essence of journalism. We do not want to hear paid mouthpieces of companies in every news bulletin or for that matter in any news bulletin. By the way, have your ever noticed such a propaganda in any other public issue? I urge you to read my post carefully once again. I have expressed my regrets and I had sought your apology not once but twice for passing such strong remarks. I never intended to hurt anyone's feelings. Impartial press and TV channels are supposed to the best guardians of democracy. If there is no democracy, there will be no freedom and there is no meaning for having these sorts of investment markets. Because, your health, mental sanity, freedom are the first priorities. Money matters least when we compare it with them. I never criticise you. I donot even think that I am entitled to do so. To tell you frankly my friend, I too have committed similar mistakes in the past. As SRI SRI Ravishankar said, Commiting mistake is not a big thing. But each time you must commit a new mistake. Do not repeat old mistakes. If you repeat old mistakes, it will become habit. What he intended was that you should learn from your mistakes and not to repeat it. Let me assure you that you have not hurt my feelings. You are fully free to express your feelings against me. Be it anger, happiness or whatever it may be. Even if it is anger give an outlet to it. After that you will find a relieved lot.
Please read my post carefully once again. At the time of writing it, I was in a fit of rage, not against you but against all those TV channels, company officials who orgainsed that fooling campaign to fool so many people at a time. You might have noticed that during that period when the issue was open for subscription, every news bulletin contained interviews of so called public, experts etc. stating that they have applied it, that they are going to hold it for very long term, that it is such a good company etc.etc. To put it in nutshell, only positive aspects were touted and all negative aspects were suppressed. We are watching TV news channels for unbiased impartial analysis. That is the essence of journalism. We do not want to hear paid mouthpieces of companies in every news bulletin or for that matter in any news bulletin. By the way, have your ever noticed such a propaganda in any other public issue? I urge you to read my post carefully once again. I have expressed my regrets and I had sought your apology not once but twice for passing such strong remarks. I never intended to hurt anyone's feelings. Impartial press and TV channels are supposed to the best guardians of democracy. If there is no democracy, there will be no freedom and there is no meaning for having these sorts of investment markets. Because, your health, mental sanity, freedom are the first priorities. Money matters least when we compare it with them. I never criticise you. I donot even think that I am entitled to do so. To tell you frankly my friend, I too have committed similar mistakes in the past. As SRI SRI Ravishankar said, Commiting mistake is not a big thing. But each time you must commit a new mistake. Do not repeat old mistakes. If you repeat old mistakes, it will become habit. What he intended was that you should learn from your mistakes and not to repeat it. Let me assure you that you have not hurt my feelings. You are fully free to express your feelings against me. Be it anger, happiness or whatever it may be. Even if it is anger give an outlet to it. After that you will find a relieved lot.
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