Why this stock going down in spite strong support from development side? someone (erudite) can explain whats the hidden reasons? I have 2000 @ 205. pls advice to keep or close.
About: Jindal Saw Ltd.
In your case, you spent Rs. 4,10,000 for acquiring 2000 shares. Today, if you buy 2000 more shares @ Rs.185, you will need Rs.3,70,000. It means that you have acquired 4000 shares for Rs.7,80,000. Your break even point is now just Rs. 195, which mean that you do not need till the price crosses Rs. 205 to make a profit.
My advice is to observe carefully and make an informed decision. It is important that you should never invest borrowed money but your own surplus, so that you will never have to sell in panic at a loss, what is essentially a very good stock with excellent prospects.The P/E is in single digits, which shows that it is not overvalued. Hold it till the market impro ...more
have patience and you will be rewarded
Talking about this stock, the (http://money.rediff.com/companies/jindal-saw-ltd/15580014/result s-half) figures indicate a fall in the gross profit as well as EPS for the latest period of 9 months ending Sep 2010, against 6 months ending Dec 2009.
Across the year the stock has oscillated between levels of 180 to 220, with the lowest at 170.
So around 180, most likely it may have a great resistance for slipping further, and may bounce back upwards.
Please note that I am not a professional technical analyst.