ABAN. Is it going to bounce back

#1
Submerged rig consisting of 20% revenue loss & then the panic selling put the stock to almost 50% minus.
Do you feel will it again reach the 1600 levels, it has done before and staged a good bounce back..
I have some ABAN stocks & seriously having no idea of what to do with it ?
Please advice
 

praveen taneja

Well-Known Member
#2
Selling now is not sensible and avg at this rate is not good so wait for a rate somewhere around or below for avg as all bad is not yet over it is high bcoz people trap on upside want to exit at higher rate as all know next result of Aban would be disasterous but take your on call it was only my view and I dont have any position in it
 
#3
For now it look to be having a good support at 700 level, do you think as market improves it will better.....the way stock fell was dramatic showing more of a panic rather than anything...again its been heard that they have got a 400 million project...read somewhere ... not sure of the details
 

praveen taneja

Well-Known Member
#4
For now it look to be having a good support at 700 level, do you think as market improves it will better.....the way stock fell was dramatic showing more of a panic rather than anything...again its been heard that they have got a 400 million project...read somewhere ... not sure of the details
Company lost hugely his profit earning capacity and u still feel it was sensible to hold:confused::confused:
In another thread when stock was at 860 told it can go to 20% down and from here I am now expecting it to go to at least 500 bcoz earlier from profit company was paying debts and other exp now all there earning not so I expect before it goes for another loan or default it can make a bottom around 500 to get stock from all weaker hand its my view only no TA in that :thumb:
 

iamaaditya

Active Member
#5
http://img190.imageshack.us/img190/1858/nakoda.jpg

I agree with Praveen, it is not sensible to hold now.

Why don't you take it off now and when the stock "seems to bounce back" (as you are confident of it).

If you can have a look at nakoda textiles, do so. Bought it in december in its high, i was confident of its bounce once the stock splits and adjusts to bonus, but it didn't bounce, sold it immediately after that (had a some loss), but i kept watching the stock closely and when i felt it started to bounce bought it and sold with more than 25% profit which was more than the loss, but had i hold it till bounce it would have been a loser. look at the chart attached.
 

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