BRIEF NEWS: BUSINESS
Moneycontrol.com decides to tribute to great investment guru
Great daily investment guru and pioneer of the stock recommendations based on expectedly unexpected events, Moneycontrol.com, an online venture of CNBC TV18 decided to give tribute by calling the lower price range of his stock recommendation as SP Tulsian's support and resistance as SP Tulsian's resistance.
CNBC TV18's daily commentator, Udayan Mukherjee informed media that the company will copyright the name before it can be misused by anybody.
"The investors generally have their own perceptions and SP Tulsian makes things simple. Just look at the advice, he said buy Kingfisher Airlines as he expects Vijay Mallya will announce plans to sell of any of his profit making company to bail out bankrupt Kingfisher Airlines is unique and nobody will get such a great in depth event based analysis. Therefore, we decided to give SP Tulsian's name to the upper side and lower side of the price range," said Udayan Mukherjee.
SP Tulsian who earlier maintained that Reliance Industries has good support at Rs 720-725 is trading at below SP Tulsian marked support level at Rs 695 today. TV 18 sources told that Tulsian is drawing a new support level for the stock which could be as low of Rs 600 levels to as high as Rs 650 levels, thanks to trading behavior of Reliance Industries shares which likes to move in broader price range.
While India Satire business correspondent couldn't reach to SP Tulsian, he came to know from sources that Tulsian was happy. However, he doesn't like to talk to trash satire writers.
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