A loss making company thats been building its business and finally gets some massive news..
Instead of starting their own LNG regasification on a port in Gujarat they took the opportunity and charted their floating terminal to a Turkish company @ $250,000 per day.
They own 63% of this business and it makes for a great deal of cash flows for them to go from loss making to pure profits. Also they own Reliance Naval now so expect some big things to come from there.
There is a nice positive RSi divergence and the stock has bounced from a key Fibo level.
Long above 302 with a stoploss below 282.
Once the RSI can break above 60 (which should coincide with a move above 302/305 it could start to catch some momentum)
Instead of starting their own LNG regasification on a port in Gujarat they took the opportunity and charted their floating terminal to a Turkish company @ $250,000 per day.
They own 63% of this business and it makes for a great deal of cash flows for them to go from loss making to pure profits. Also they own Reliance Naval now so expect some big things to come from there.
There is a nice positive RSi divergence and the stock has bounced from a key Fibo level.
Long above 302 with a stoploss below 282.
Once the RSI can break above 60 (which should coincide with a move above 302/305 it could start to catch some momentum)