Essar Steel - Hot Stock Pick for Indian Investors

#1
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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#2
Re: Essar Steel - India Hot Stock Pick for Indian Investors

Good analysis. i followed this signal and now i am in profit.

when shd i book profits?
 
#3
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
 
#4
Re: Essar Steel - India Hot Stock Pick for Indian Investors

Super call and analysis on Essar Steel.

It has now reached 27.00

What should I do??

I wish to subscribe to your recomm.

Where can i
 
#5
Re: Essar Steel - India Hot Stock Pick for Indian Investors

Bang on. Good call. Made a quick profit between 27.80 & 29.50. Frozen at 29.95 today.

Any chance of breaking out above 30.00 ?
 
#7
Re: Essar Steel - India Hot Stock Pick for Indian Investors

As InternaTIONAL PRICES ARE MOVING VERY FAST IT WOULD BE WISE TO KEEP TILL
SENSEX REACH 5290-5300 WHEN U SHOULD EIXT AS THERE WILL BE A CORRECTION FROM HERE
 
#8
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 ??????
 
#9
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.
 
#10
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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