Essar Oil

Hi..

I'm trading for about 2-3 months now and i've been going through this forum from a month.. I would like u all to suggest me regarding one of the stocks i've got yesterday..

I've got 1 lot of essar oil 95 call option @4.9.. It closed today at 30.. Its gone almost 55% to 60% up today.. Right now i dont have any software for technical analysis..Is this gonna fall down 10%-20% or still go up.. I'd be very happy to collect ur views regarding the same..

I don't think any tech indicators will work here , as such co is accumulting stock for pure purpose of delisting

As per news item 88% of the holdings are already with the promoters. Additional issue of capital on preferential basis to promoters is intended to raise the limit to 90% and beyond so that delisting will become fait accompli.

Meanwhile, market has sensed this and is pushing up prices of the scrip. Do not be surprised if you see 200 by Friday closing. Higher and higher the market price, promoters will have to buy out the remaining shares at the discovered price (which could be more than Rs. 200).

Hi,


I'm very happy that u replied back to me.. Thanks a lot for that.. It was really helpfull..And i squared off essar oil 95 call option @60..