Today i wont be recommending any long or short. Market is once again in too much indecision. Although my feelings are towards upside, but still cant rule out the words of the experienced traders. otherwise most of the shares are giving the trend reversal to upside. better wait for one more day to go long or short. Tomorrow will decide...
Long or Short Opinion
- Thread starter rajputz
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I donot know technicals of Hindpetro, but I would refrain from shorting it. GOMs meeting is on 7th which could recommend freeing fuel from Govt. control thus market forces will decide Fuel cost & this will reduce loss of oil marketing companies. So oil marketing companies will be a buy & definetely not a sell.
Cheers !!!
Alok Tewari
Cheers !!!
Alok Tewari
I am long in Hindpetro since 290 levels (22nd April) and my target is 400+, I would not advice to short it either.. this guy is going way up
http://www.traderji.com/swing-trading/38079-wolfewave-swing-calls-12.html#post429018
http://www.traderji.com/swing-trading/38079-wolfewave-swing-calls-12.html#post429018
With crude around US$ 72, this is the best time to free fuel from Govt control as petrol & Diesel will have to be increased only about Rs. 3.50 per liter to bring at par. Govt. can easily bite the bullet now for this increase. Count Congress to somehow manage support for this as 2 Yadavs are waiting to fall in UPA's lap at drop of hat. In any case fuel price increase doesnot have to retified by Parliament. There will be noises & protests but Govt. can live with that.
Alok,
This is a debatable topic, because diesel hike means lorry, taxi, bus strike etc, if the opposition join hands, they will threaten to bring down the govt, that is why, I said the govt needs tremendous guts. Kersosen and LPG means, votes, and many states are expected to go for polling in 2011. Defintely roll back will happen, a 3 ruppee hike and then 50 percent rolled back to satisfy the oppostion & public. What eventually may happen is total freeing of Petrol, and partial freeing of kerosene, diesel and LPG, this is what most experts think the govt can do at this time. Even the Oil Marketing companies are also expecting only this much for the time being.
This is a debatable topic, because diesel hike means lorry, taxi, bus strike etc, if the opposition join hands, they will threaten to bring down the govt, that is why, I said the govt needs tremendous guts. Kersosen and LPG means, votes, and many states are expected to go for polling in 2011. Defintely roll back will happen, a 3 ruppee hike and then 50 percent rolled back to satisfy the oppostion & public. What eventually may happen is total freeing of Petrol, and partial freeing of kerosene, diesel and LPG, this is what most experts think the govt can do at this time. Even the Oil Marketing companies are also expecting only this much for the time being.
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