Tuesday, January 5, 2010

Godrej Properties Listed at Rs 510 as suggested

Godrej Properties got listed at Rs 510 per share as suggested in my blog post on this Sunday.
Click here to read the details.

Godrej Properties has touched intraday Rs 586.70. I already indicated this fact in my previous article under Company fundamental section "Qualified Institutional Investors looks quite bullish on the stock, which can add some premium to the counter on the listing day. If this continues you'll see appetite for the stock from Mutual Funds, HNI and Retail Investors"

As I anticipated Godrej Properties has given good return to the investors on the listing.

Now what’s next?
- Lets wait for stock to form base for now. It's likely to settled down around 535-550 Levels.
- Nifty is moving upwards which is good indication.
- Global markets are supportive as yesterday US markets were up and today Asian markets were buzzing.
- Today we had extremely strong breath. We can sense it from Advance Decline ration.
- People who already have position in the stock should continue holding it but keep a stop loss of Rs 495. New position could be taken if stock moves above Rs 575 levels.

Happy Investing!!

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