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Pipavav Defence and Offshore

Discussion in 'Technical Analysis' started by vishuhd1, Dec 12, 2012.

  1. vishuhd1

    vishuhd1 Member

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    Pipavav has broken a strong resistence of around 90-91 levels and it is trading at two year high now with a CMP of 95.4...

    It is certainly surging towards 101-105 levels.. Positions can be taken in this counter.. But just beware that if this stock starts falling, then it falls very steeply and in a very quick time.. Stop loss is very low at around 56...

    Please share your thoghts on this..
     
    vishuhd1, Dec 12, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    I will share something about this stock. 78 to 50 in 2 trading sessions and then such a big move is something not comforting and so I would avoid such stock because you have no option for stop loss as well.

    So to consider this stock I need to understand the reason for the fall which I sense is some management issues.

    On top of that this stock has link with Punj Lloyd which is a black list stock for me and as that management is on my shit list, I have one more reason to black list this stock as well.

    Now coming to technicals of this stock, I see it would have been good buy around 88 with a stop of 80 odd and possibly a miss now.
     
    shabbir, Dec 12, 2012
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  3. vishuhd1

    vishuhd1 Member

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    Yeah right Shabbir.. This stock has moved up and down very quickly last two times.. Can this also be because of too much of promoter share in the stock ?...

    And, I also read sometime back that Mr. Rakesh Jhunjhunwala has invested around Rs. 70Cr in this stock.. We might have to findout the reason for that as well..
     
    vishuhd1, Dec 12, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    No need to try finding why someone has invested so much money into it because the real information may not be revealed to public and you may end up reading what others think why he has invested so much into that company.

    On top of that he may be in the board members for being such a big investor as well.
     
    shabbir, Dec 12, 2012
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  5. vishuhd1

    vishuhd1 Member

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    Thanks for your comments Shabbir..
     
    vishuhd1, Dec 12, 2012
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  6. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Dec 12, 2012
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