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#1
15th July 2004, 12:08 PM
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Essar Steel - India Hot Stock Pick for Indian Investors
Essar Steel - India Hot Stock Pick for Indian Investors
Essar Steel begining new intermediate uptrend! Great buying opportunity For trading signal and analysis see attached chart! 
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#3
22nd July 2004, 02:29 PM
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Re: Essar Steel - India Hot Stock Pick for Indian Investors
Rs. 26.50 - 27.00 seems to be a major resistance for Essar Steel.
I would tighten my stoploss and keep them at 25.50 - 26.00 for now. A breakout above 27.00 would see the stock move up to 30.00
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#6
29th July 2004, 03:35 PM
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Re: Essar Steel - India Hot Stock Pick for Indian Investors
Rs. 30.00 is a psychological resistance for this stock.
I would suggest booking profits as of now.
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#8
4th August 2004, 07:41 PM
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Essar Steel
ESSAR STEEL book closure around the corner on 6th & 7th August 2004. There is a proposal to write down 40% of the equity & issue 0.01% preference shares to share-holders in the ratio of 4 out of every 10 shares held.
My question is; is this beneficial to share holders as these preferential shares are redeemable every year commencing only from 2017, a long, long way off? Will this have any effect on the stock price soon after the AGM on 7th August 2004? UP or DOWN In short; should I sell, hold or buy some more ??????
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#9
5th August 2004, 10:34 AM
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Re: Essar Steel
Essar Steel is currently in a consolidation/correction mode.
Essar Steel could find support at 26.35 and then at 22.80. One can look to BUY at these levels with a stoploss about 0.50 lower. A close above 29.20 could signal the beginning of an uptrend which would get confirmed on a close above 30.00. One can add/buy then. I would also recommend you to view my comments in this previous thread on Essar Steel.
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#10
16th August 2004, 07:42 PM
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Re: Essar Steel
Latest news predicts good results for ESSAR STEEL. Their HR coil stock position is good & so is their gas availability. That means good productivity all the way.
Am holding some stock @ 29.50 & expecting a push upwards & a breakthrough past the psychological 30.00 barrier. If I am correct, give me an idea pls on a realisitic target. Would 34.00 be so ???? Thanks for your support & guidance in advance.
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