I sold out my RICH, when need to start collect?

mono wrote:I told people to sell this when the results came out. But everybody was like Mono's trying to bring the share price down blah blah blah.......

Now look at where the price is.

optimistic wrote:I made a big mistake by not selling it at 16 while I had the chance. I think its not worth selling at this point (assuming it doesnt go down further, hopefully) eventhough I'm still at profit, I'd rather hold this for the long term. I'm sure that RICH is a safe investment, its a bluechip after all.

optimistic wrote:I made a big mistake by not selling it at 16 while I had the chance. I think its not worth selling at this point (assuming it doesnt go down further, hopefully) eventhough I'm still at profit, I'd rather hold this for the long term. I'm sure that RICH is a safe investment, its a bluechip after all.

Gaja wrote:i bought the rich with the ave cost of 10.30 after dividends, i bought it somewhere in Nov with the long term holding, and am not panicked about the price price drop, but what i feel still somebody collecting RICH & GLASS

optimistic wrote:Thanks for the thoughts, mono and micky.

I agree with you on the whole thing about opportunity cost. Actually 50% of portfolio is RICH. I bought in to RICH declaring it as a long term investment. So regardless of the price fluctuations, I will try to hold it for the next 6-12 months or maybe even longer (depending on the condition of the market). RICH may come up with better financials in the future with their mega expansion in the super markets chains and the rest of it. I havent really found a sound investment for short term and medium term. I have missed most rallies, but I was thinking of CFVF as my next entry.

Gaja wrote:after that price i didn't bought, but i noticed there was several big quantities traded between 14 to 15.80 just prior to the results so they will expect reasonable margin before sell it. Another issue with RICH was too much of shares in the hand of retailers and most of them get panic and sell it of

slstock wrote:Significant volumes were traded between Rs 13.9 and Rs 16. So share coming down more than Rs 14 will not be easy ( it can happen but just saying people who bought between Rs 14-16 will not easily sell below what they bought right?)

Took time to tyre and present it in the below format ... pheew... Hope you guys can see properly.

Date Volume
2011-02-07 40,063,000 Between Rs 14-15.4
2011-02-08 26,204,100 Between Rs 14.80- rs 15.9
2011-02-09 6,304,000 Between Rs 15.40- Rs 16
2011-02-10 6,424,600 Btween Rs15.30 - Rs 16
2011-02-11 6,692,700 Between Rs15.10 - 15.80
2011-02-14 5,165,400 Between RS14.80 - Rs 15.30
2011-02-15 2,399,600 Between Rs 14.80 - 15
2011-02-18 1,855,900 Between Rs 14.90 - 15.10

optimistic wrote:slstock,

My average cost is Rs. 13.15 . I do not mind holding this for a long time provided that it will give me a decent return. As you said, due to the massive number of RICH shares in the market and its liquidity, a lot of retail traders have access to this. And hence, we are seeing price drops from time to time resulting from panic selling.

Gaja wrote:as i told earlier as well, this is what i observed for more than a month somebody quietly collecting RICH & GLASS. Because everyday around 1.5 Million shares traded on average

micky wrote:

Gaja wrote:as i told earlier as well, this is what i observed for more than a month somebody quietly collecting RICH & GLASS. Because everyday around 1.5 Million shares traded on average

RICH will hit 20+ ??? if yes any idea about the date?

slstock wrote:

micky wrote:

Gaja wrote:as i told earlier as well, this is what i observed for more than a month somebody quietly collecting RICH & GLASS. Because everyday around 1.5 Million shares traded on average

RICH will hit 20+ ??? if yes any idea about the date?

With the current growth RICH will hit Rs 20 at some point ( medium term . ). Cannot predict when as other factors as dull markets, credit clearance etc may effect the overall trend as we already had a bull run on this. If you thinking long term RICH is a very good share.

slstock wrote:

optimistic wrote:slstock,

My average cost is Rs. 13.15 . I do not mind holding this for a long time provided that it will give me a decent return. As you said, due to the massive number of RICH shares in the market and its liquidity, a lot of retail traders have access to this. And hence, we are seeing price drops from time to time resulting from panic selling.

Hope you did hold optimistic as you also saw the potential today.

I said before
"Significant volumes were traded between Rs 13.9 and Rs 16. So share coming down more than Rs 14 will not be easy ( it can happen but just saying people who bought between Rs 14-16 will not easily sell below what they bought right?) "

optimistic wrote:

slstock wrote:

optimistic wrote:slstock,

My average cost is Rs. 13.15 . I do not mind holding this for a long time provided that it will give me a decent return. As you said, due to the massive number of RICH shares in the market and its liquidity, a lot of retail traders have access to this. And hence, we are seeing price drops from time to time resulting from panic selling.

Hope you did hold optimistic as you also saw the potential today.

I said before
"Significant volumes were traded between Rs 13.9 and Rs 16. So share coming down more than Rs 14 will not be easy ( it can happen but just saying people who bought between Rs 14-16 will not easily sell below what they bought right?) "

Nope. I'm holding on to my RICH shares like a miser, slstock . I have a friend of mine who is holding approximately 1.5 million shares averaged at 11.83. You can consider him as a high net worth individual too because RICH is not the only share he's holding of that magnitude. He's pretty confident about RICH reaching 20, dont know when but it will on the medium term. He encourages me to hold on to the shares no matter what. Regardless of what happens to the market, I have kept my RICH shares locked on to a safe and will let it mature.