Guys, as the original owner of RIL and it's babies, I think the opportunity to own RIL is now, and on any dips. There is a lot of TA done on RIL by many folks, but the best thing to do is to continue SIPping into RIL. The above assumes that you do not own RIL.
1800 seems to good support, and it does not look it will not go below the trendline support of 1400-1600 even in a deeper correction.
Of course, the bonus will change the situation a lot since it will get back to the 1000+ with lots of buyers coming in. I would recommend buying before the bonus adjustment occurs......
KKP
Balaji Jayaraman wrote:
Friends,
Here you go….
You heard it from Mukesh Ambani yesterday (during AGM). RIL seems now getting ready to explode & in turn take Nifty to new highs.
Rgds/Balaji
Reliance plans aggressive exploration: Mukesh Ambani
Tuesday, November 17th, 2009
Energy major Reliance Industries plans an aggressive exploration campaign, investments in petrochemicals and overseas acquisitions as
's top company prepares itself for the next phase of growth. India The company will work towards attaining global scale for its conventional energy platform — petrochemicals, refining and oil and gas exploration — and invest in its new businesses such as retailing and alternative energy, chairman Mukesh Ambani said at the company's annual meeting of shareholders.
"The business transformation initiative would create a Reliance that is able to scale up existing businesses; adds new business both organically and inorganically," said Ambani, who is
's richest man. India At 12:48 p.m., the shares were down 1.1 percent at 2,125 rupees in the Mumbai market that was down 0.1 percent.
Reliance, founded by Ambani's father Dhirubhai, a school teacher's son, has grown rapidly as it diversified from making textiles to polyester to refining to oil and gas exploration, but a sluggish global economy seen its profit fall in the past for four quarters.
A high-profile legal battle over a deal to sell gas to Reliance Natural Resources, led by Mukesh's estranged younger brother Anil, at below the price set by the government, has also unnerved investors.
Ambani did not mention the gas dispute in his speech.
He said while the global financial crisis had fundamentally changed the world of business, Reliance expected it would have both strong growth and a larger global footprint.
"Exploration and production business would give the company a much higher growth trajectory in the coming years," Ambani said.
In April, Reliance began pumping gas from its find in the Krishna Godavari basin off
's east coast, which is expected to almost double the country's gas supplies at peak production. India Gas production has crossed 6 billion cubic metres and the field is slated to plateau production by the second half of 2010. Oil production has reached 2.8 million barrels with daily peak production expected by the end of the year, Ambani said.
This production is from just three of the 19 discoveries in the area, he said.
The company also plans to set up a petrochemical complex in
Jamnagar in westernthat would nearly double its current capacity to 4 million tonnes a year. India "Now that the oil and gas petroleum refining projects are commissioned, Reliance will work on making this world-class project a reality."
It already has the single largest refining complex in world at
Jamnagar inGujarat , with a capacity to process 1.24 million barrels per day.
-- Plan Your Work and Work Your Plan to Get Ahead in 2009-2012..... KKP Investor ------------ ------------ Bull Markets are Born on Pessimism, Bull Markets Grow on Skepticism, They Mature on Optimism, and Die on Euphoria - Sir John Templeton ------------ --------- --------- ------ Bear Markets are Born on Recessionism, Snowball on Momentum & Technical-Breakdown s, Mature on Eco-Political- Nightmare Talks, and Die on World-Is-Coming- To-An-End Euphoria - KKP ------------ --------- --------- --------- -------- >BUFFET: My rule is to be fearful when others are greedy,and be greedy when others are fearful. All day you wait for the pitch you like, then when the fielders are asleep, you step up and hit it. Stay dispassionate and be patient. First the crowd is boozy on optimism and buying every new issue in sight. The next moment it is boozy on pessimism, buying gold bars and predicting another Great Depression. Most people get interested in stocks when everyone else is jumping in. The time to get interested is when no one else is interested. You can't buy what is popular and expect to do well. ABOVE ALL: Whatever God Does, Accept that as Good; Leave Behind ALL Other Judgements/Justific ations. ------------ --------- --------- --------- --------- --------- --------- --------- --------- --------- ------- Disclaimer> Do you homework for your ownself and then invest. My ideas are not advice.
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