Will post again after a few days.
Cheers.
Sunday, November 16, 2008
Buying Opportunity
This week could be a good time to start slowly buying into the market...I will start buying back in small amounts daily...Essentially buying back what I sold at around 3200. These are tough markets to time and trade but I think we are close to some kind of value levels...Market even though going down, is not really crashing now. I say lets evaluate the moves today and buy for a good swing up. We are now holding inbetween the 61.8%-50% retracement levels. If market breaks the 2730 area, we can go down to 2640. This area should offer some excellent support going forward.
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Tata Teleservices - zero down side and 15% immediate returns : Open Offer at Rs 24.70/-
Japan's largest mobile operator NTT DoCoMo on Wednesday became the latest entrant in the growing mobile telephony market when it picked up a 26 per cent stake in the Tata Teleservices for a consideration of $2.7 billion or Rs 13,070 crore.
This deal would value TTSL, with its customer base of 30 million, at over $10 billion.
DoCoMo Inc later on Friday announced a Rs 949 crore open offer to the shareholders of Tata Teleservices for up to 20 per cent equity at Rs 24.70 per share.
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