#PVSL,17% stake held by FII,DII, above 270 udega?#Popular vehicles & services Ltd(PVSL), CMP 263, company is engaged in the business of automobile dealerships in India. They have dealrship with 3 brands Maruti suzuki, Honda cars, Jaguar land rover. They recently listed and what made me interested in this company is FII(7%), DII(10.26%) have 17% holding. Why are they holding such high stakes in a car dealership company? Maybe they can see something that normal investors can't.
Technical analysis tells me that a day close above 270 can open gates towards 1) 280 2) 291 3) 297 4) 305.8(imp level) 5) 321 6)332 7) 338 8) 346(imp level). Once 346 is crossed I will put sl at 320 and try to ride the trend till 387.
Keep eyes open
Dii
Critical Friday awaiting FIIs intervention..As we have seen FIIs are withdrawing en masse, we are nearing the critical support zone of 17857 and 17762. These are 2 critical support where we assume / expect and hope for FIIs to return to buying mode or go into neutral mode. If they return or stop aggressive selling NIFTY can restart its journey into positive zone. In case of positive buying by FII and DII the resistances will be 17963, 18015 and 18136. Tomorrow will be an important day for short term trend.
In the long term Macros of Indian economy remain strong. Budget will be detrimental in deciding which sectors will be favoured by investors going forward.
NIFTY50 SMALL CORRECTION AHEAD!!US recession over(analysis in link section).
MANY FII BUYING AND DII SELLING ARE COMING IN THE MARKET!!
In previous days, markets where net rising only, but still we could see a lot of selling, from DII side. many FII are steping in. and due to gap ups, the markets are closing in positives.
we could see the M AND W pattern are completed, anf there could now be a small correction since, RSI indicator is also in overbought zone.
paths are drawn, and then we could again see a rise in markets during end week of this month.
if you want to take some new positions in market, do wait for the market to go a little below, then start entering in the markets.