One should look to accumulate spic jet from Rs 50/- levels & and at every dip till 38-40/- level
Pls be informed it is one stock where the promoters are accumulating from the open market at every DIP.This is done only when the promoter/mgt are bullish about the future of the stock.
Recently a major stake holder exited but still the price did not fall as all the shares were smartly mopped up by domestic institutions.Majority stake holder - a Dubai bases Investment house sold the stock due to the Dubai Debt Re-Payment crisis.
(Three leading mutual funds — Reliance Mutual, Birla Mutual and DSP BlackRock — and a Foreign Institutional Investor together bought almost the entire 13.05 per cent stake in SpiceJet Ltd, the low-cost air carrier, of Istithmar PJSC, a Dubai-based investment house.)
In my view .... in 6 months time we could easily see the level of 75-85 if we do not see any major trend reversal in the broader market indices.
Be Smart start accumulating now & at every dips & create wealth in long term.
Happy Trading
Friday, February 12, 2010
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