RIIL Heavily manipulated by operators/promoters-definitely.
Make me remember Jai corp days which fell from 4000 to more the 60% down i.e 1600 levels, I have seen that pain too, did not sell a single share. This game is played on different terms, no stop loss here, I being a very high risk investor, believed more on the fundamental story and all know where Jai is now and the bright future ahead.
Remember what is Jai Corp without Reliance or Mr.Mukesh Ambani, for me hardly anything and here Reliance Infra being Mr.Ambani's own company, I see the potential, as it shares similar business model like Jai Corp so the future is very bright. RIIL bright future became very obvious with Jai Corp Runup so many people jumped into the share. Now the biggies/operators want a bigger pie so they have to do something bizzare to shake the weak hands so the drama.
Also note that this is never on a TRUE LC from 3000 levels i.e if you want to sell it is easily sold, it starts weak and when operators has gobbled all the shares for the day they keep it on LC (My way is seeing it like the operators telling all - Anyone else want to sell, no then I keep the LC by about only about 10% of total shares traded today). Delivery today is also in the 40s at nse where more than 7lac shares were traded.
It is said entry in Mr.Ambani's stock is by invitation only and is for strong long term investors only and not punters/traders/weak hands, I see this as a invitation for investors and not so for the latter.
From where till it can go, I cannot say, my best guess how out till 1500 max but very hard to predict these operators gameplan which depends on various factors one being How many shares they have gathered and how much they want more to gather. For people in loss, Kindly decide what type of risk profile u have as this like Jai is a high Risk high return stock and I hold it from sub 1000 levels.
How about seeing it this way, few months back it was just a 900cr company by Market cap then it became more than 4000cr company and now it is less than 3000cr and does one thinks that Mr.Ambani will allow anyone to play with his company like this, think again. It is still the cheapest company according to Market cap among all the Reliance companies (including both brothers) and I certainly feel it will not stay like that.
ABOVE MY VIEWS ONLY. KINDLY TAKE YOUR OWN CALL PLEASE.
Regards
jnj
