JIOFIN : Selling it off at the momentI acquired the stock as part of the demerger of RIL. However, due to the lack of publicly available details about the business model or the growth prospects of the company, as well as the inability to conduct technical analysis based on the current chart, I don't feel it is safe to maintain this position for an extended period.
Additionally, I believe that, for the same reasons I mentioned above, institutional participation in the stock will likely remain limited until at least two quarters of results are available. This makes it difficult to predict how retail investors will act, particularly given that many institutions who received shares as part of the demerger may be planning to sell, similar to what I did.
I also have suspicions of potential institutional manipulation in the stock, which could be contributing to the recent irrational upward movement in the stock over the past few days. This could be a strategy employed by institutions to exit their holdings.
Therefore, at this time, I'm taking a step back and will contemplate re-entering the stock once more comprehensive technical and fundamental clarity becomes available after a minimum of two quarters.
I have attached the chart, I shared in my personal group about RIL while closing that position, to this message. Kindly review it at your convenience.
