rcom--outlook
logic is now out of the window.
looks like some big fii sold out yesterday and today--especially in
'the closing stages.
the stock is now trading at below it's 200 day ma
the moving average crossover ( 30/100) is also above the price--bad news.
the rsi is also negative(below 50).
all the above point to a lousy stock---but these are all exceptions
that prove the rule.
due to large scale sell offs the stats are distorted.the technicals are
not going to work here.
the very fact that fiis seem to have sold this out in large qtys--8,3 million shares traded today as per the bhavcopy--means that they held this in the first place.
what is going to work here is:
1.the court hearing is now on 5th feb--but the spectrum will surely
be allotted for all india roll out for gsm technology.
2.rcom will be offering very cheap rates thereby ramming bharti by
enrolling fresh customers.
3.their 3g foray later this year--+ broadband services etc will be very
remunerative.
this stock is likely to go to 800 very soon.
ghoomnewala
Does anyone have intrest to join co working community for trading from vellore or coimbatore