Yesterday Sasken was up by 14.36 % starting from 140 and steadily rising to 160. Though I am not keenly interested in technical analysis and the fluctuations of the stock prices, I feel that it can help me time my buy and sell decisions. I mean, I could buy a stock cheaper or sell it higher. Major rise / fall in stock prices is effected by the buying or selling by the Institutional Investors (FII / MF). Retail investors dont play a major role in moving the stock prices.
In the case of Sasken, Sundaram Select Midcap fund bought 2.5 lakh shares @ an average price of 150 Rs [source : moneycontrol]. From the technical chart, one can see that the price has been steadily rising since the morning.
From the candle stick pattern, one can see a "bull" trend in the stock.
In the case of Sasken, Sundaram Select Midcap fund bought 2.5 lakh shares @ an average price of 150 Rs [source : moneycontrol]. From the technical chart, one can see that the price has been steadily rising since the morning.
From the candle stick pattern, one can see a "bull" trend in the stock.
Source : businessweekNote, Sasken had fallen from a high of around 600 to 88 after it's Fy08 Q3 results were disappointing. Till some time it was trading below it's book value and the cash in hand. It was like buying Rs 150 for Rs 88. The company has announce a buyback at a price not exceeding 256 per share. I'll be writing a series on the stocks that I had a look at and why did I choose / dump a particular stock. Peter Lynch (as well as Warren buffet) Says that for every stock you choose, you should be able to explain your choice with strong reasons.
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