Market regulator Securities and Exchange Board of India has imposed a Rs 1,000-crore penalty on Reliance Industries Ltd., the largest in its over 20-year history.
In a case dating back to 2007, SEBI has found Reliance Industries and 12 related entities guilty of fraudulent and manipulative trades.
The SEBI order, published on its website on March 24, 2017, says Reliance Industries and the 12 other entities violated provisions of Section 12A of the SEBI Act, 1992 and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to the securities market) Regulations, 2003.
The regulator has prohibited the 13 entities, including Reliance Industries, “from dealing in equity derivatives in the F&O segment of the stock exchange, directly or indirectly for a period of one year”, from the date of the order.
The regulator has also directed Reliance Industries to, “to disgorge an amount of Rs 447.27 crore...along with interest calculated at the rate of 12 percent per annum from Novem…
*** After this post, it came down to 112.80 on 12th Feb 2016 and yesterday, 10th March 2017 made high 517.70.
That means more than 350 % absolute return within 14 months.
This was one of the rare ones as per my study of PRICE,PATTERN, VOLUME & VALUE and worked out well. ----
Now, climax & finishing touch stage. What next? that was also answered in my Twitter dated 05th March 2017. ESCORTS - Enterprise Value 4 K Cr & present Mar.Cap 6 K Cr. My perception : Won't go beyond a billion $ Mar.Cap. in the present context. — Murugavel (@murugavell) March 5, 2017
So, as per the above view, this year upside range 8600---9000, yesterday high 8992 and closed at 8900. that means,now the upside range fully completed and apart from it, got some more signals & waiting few more that don't want to elaborate here. it seems, as such, Topped out @ 8992.
*** As long as stays between 8600-9000, considering as topping range. But in case , break above this range then 9000-9200 will become || neutral || make or break || to be or not to be || But above that next in upside 10400 and afterwards 11400.