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Moneycontrol.com >> Message Board >> View Messages >> Reliance Petro
   You are here :     Moneycontrol     MMB      Stocks      Reliance Petro
Time to buy RPL? YES - Be and Make (20)   01-Jul-08 16:14Tracked by (1)  
Posted by:   Be and Make on ( 01-Jul-08 16:14 )
Price : BSE: Rs 166.05 ( -2.58 % ), NSE: Rs. 166.00 ( -2.67 % )
From last December when it is trading around 200-220 mark I slightly bearish for short term and I recommended several times to go short RPL for targeting the 147-162/- band. The strategy absolutely worked for me and I made huge money by going shorting RPL. I several times intimated that I am not bearish about the RPL for medium term to long term. As the company reaches to the production completion date my bearishness vanishes as I said earlier. Now, markets are crashed almost 40% from its peak and considering the inflation, rising interest rates, political uncertainty, high crude prices.
What to do with RPL right now?
Most of the boarders may be thought for a while atleast!
Even today markets slipped below the 14000 mark then what about the RPL which is at around 165/-?
I strongly recommend to buy RPL right now, markets may have another 7-10% cut but RPL may not be that much worst from here.
From last several months so many brokerage houses came with their reports to BUY reliance petro targeting from 168-204/- like
1. morgan stanely 204/-
2. citi 221/-
3. Enam 208/- and some brokerage houses came with targets around 170/- level.

So, are the concerns which markets fearing are really affect the RPL? No in my sense RPL may affect to the inflation, rising interest rates, political uncertainty, high crude prices. It is refining company and is ready to start the production and to generate the profits in this year. So, even in these panic conditions I wish to add it much in my bag. Just hold it for 12-18 period you will be rewarded great.

Happy investing
Be prosper
Advance cheers

With thanks
Be and make
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