As mentioned earlier that the Nifty will find a small resistance at 5325 levels and the crossing of 5400 will not be so easy. So today we saw profit booking at the higher levels. I have also mentioned that the Nifty good support is at 5200 levels. Nifty did tank till 5224 levels but bounced back sharply and closed at 5276.90.Reliance power is planning for the bonus shares to the shareholders to gain the confidence of the investors. If the investors do not get the exit from the counter at which they have bought or the profit then the investor would loose the confidence in the Company. ADAG group in the near future is again coming out wit the fresh IPO of his new co.
According to me the equity in the market will increase and the stock price can come down, so I would rather advice the investors to book profits or sell at par at around 430-450 levels. And buy in declines again.
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