NEWSLETTER

Astrology18 Group

Reliance Industries has informed BSE that the Board of Directors of the Company at its meeting held on October 07, 2009, inter alia, has recommended, subject to the approval of the shareholders, issue of Bonus shares in the ratio of one equity share of Rs 10/- each fully paid up for every one equity share of Rs 10/- each of the company. India's largest private sector refiner has issued bonus shares after 12 years. The last time it issued 1:1 bonus was on September 13, 1997. Further, the Board has declared a dividend of Rs 13 (Rupees thirteen only) per fully paid-up equity share of Rs 10/- each.

Reliance Industries declared its audited FY09 results, including Reliance Petroleum's (RPL) numbers. The company's consolidated net profit was at Rs 15,296 crore versus Rs 19,523 crore. Its consolidated net sales were at Rs 1.51 lakh crore versus Rs 1.37 lakh crore.

Reliance Industries bonus history

Year Ratio
1997 1:1
1983 3:5
1980 3:5

 

stockanalysis

FOR DATE 8-10-2009

SCRIP = CANARA BANK (NSE),
SCRIP CODE = CANBK,
PREVIOUS CLOSE = 344,
STOP LOSS = 332,
TARGET = 388.
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CHART AS ON 8-10-2009

WITH A CONSIDERABLE RISE IN VOLUMES, THE STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN CONSOLIDATION SINCE SEPTEMBER BUT, IN VERY LONG TERM VIEW, THE BREAKOUT IS FOLLOWING A LONG SUSTAINED SWING, SINCE MID MAY HENCE, THE TARGET RESETS ITSELF MUCH HIGHER.
THE OSCILLATORS AND INDICATORS SUGGESTS A GOOD UPTREND IN THIS COUNTER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT INDICATE THIS COUNTER GOOD FOR A SHORT TO MEDIUM TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS

(ss)

Here is a trendline study on Nifty Futures. Above chart shows two trendlines - one drawn from the March lows (pink) and the other drawn from the July lows (cyan). The March trendline broke in mid August but markets rallied. So now we zoom into the chart below which shows the July trendline. Today's close brings us almost right on this trendline. The brown line shows the breakout point and a probable support zone in case we tank from here.

And finally we zoom into the chart below for details. 4908 still holds - yellow line.

The repeated bounces off the trendline and the retests are kinda dangerous. So what I'm looking at? If we brake 4908 then there is a minor support at 4790, break that and we go back to the point of the breakout around 4725-40. The larger trend is still up but we do need to reduce some fat - we can't continue to have 90% stocks above their 50 day averages - that's a bit too much. So even if we drop say a coupla hundred points from here, it won't be the end of this world, right?

 

(markettoday)

BHEL has moved for last few days form 2220 levels - now today it has formed an inverted hammer (candle - long upper shadow ) pattern on daily charts with huge volume compared to last few days.
Time to book profits in the longs or short with today's high (2525) as  stop loss with target 2407 and 2372.


Trading hint:-
A tall upper shadow is especially important when it appears at a high price level, at a resistance area, or when the market is overbought. This is because such a candle line would hint that there is either heavy supply entering at higher prices or an evaporation of buying. In either case (see chart),  a long upper shadow could be a bearish development - the book Beyond Candlesticks - Steve Nison