Buy for May 6th 2008

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Buy Reliance power at 400, 405. Stop Loss at 395.

As per our previous post, buy Reliance power at above price. The Stock price will rise to 430, at its initial issue price and hover around 430- to 440 until the bonus issue date. We expect the stock to fall sharply after the bonus issue.


For the very experienced traders, there is ample opportunity in the market to short these shares now, we expect the shares to fall sharply after the bonus issue. The fundamental behind the short sale is : this stock is up purely based on speculation and no performance. Another stock to compare would be Reliance petroleum. Reliance petroleum is also gaining momentum based on speculation, but we do not recommending shorting Relpet because Reliance petroleum is approaching first phase of completion, whereas, RPower is no where close to any of its project completion.

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