Reliance and RNRL , What to do now ?

POSTED BY manish ON June 15, 2009 COMMENTS (3)

RNRL wins the court case against Reliance Industries on gas supply issue. Now Reliance will have to sell the gas to RNRL at a price lower than the government approved price of $4.2 per mmBtu, it would affect their profit margins .

  • RNRL shares gained 24% (heavy volumes)
  • RELIANCE shares lost 7.5% (heavy volumes)

What should you do with these two shares ? Lets first see the charts of these shares for 3 months


RNRL

Reliance and RNRL , What to do now ?

Short Term : BUY for short gain
Long Term : BUY

RELIANCE

Reliance and RNRL , What to do now ?

Short Term : SELL below 2100 on closing basis
Long Term : BUY on Correction

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3 replies on this article “Reliance and RNRL , What to do now ?”

  1. Karan Batra says:

    You never know with these AMbani Brothers

    Tomorrow Morning they may come out with another statement which gets there shares crashing ro sky-rocketing

  2. Manish Chauhan says:

    @Ravi Kumar

    Because this stock is currently rallying more because of Sentiments more and fundamentals less. So on any dip buy for short term , short term is just some days , not months

    thanks for your wishes

    manish

  3. Anonymous says:

    Hi,
    Wish u a Happy birthday.

    BTW, why you are saying RNRL is a buy for shortterm? Is short term means 3 months?

    Thank you
    Ravikumar

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