When the issue could not go through within the stipulated time having failed to get 90% subscription, the surge is share price is totally wondering!! Bettr to be careful. We have come across cases like Austral Coke now at 10 and Pyramid Saimira caught in for all wrong reasons.
Please see NSE Security-wise Delivery Position -28 OCT 2009
Quantity Traded: 20217704 shares Deliverable Quantity (gross across client level): 599365 % of Deliverable Quantity to Traded Quantity 2.96 %
No wonder it is going up like this. Only 2.96% has been for delivery trade. Rest 97.04% is only day trade speculation.
Otherwise how can you explain a share which was not subscribed even one time, had to extend the closing date,lower its original price band suddenly becomes the darling of the stock market and goes up from Rs 125 to Rs 218!! in just 2 trading days??
Some one will get trapped as it falls heavily,shortly soon.
So you must have made a lot of profit today. Anyways buy is always better than sell. Indiabull power is opening tomorrow so this script will not have much movement tomorrow.
now the support is at 184/186 , so decide the strategy according to it. as i told you i dont count on intraday .. this script from 193/195 swings in any direction.