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Its obvious now that the price appreciation movement of JKH share was a manipulation and a well set trap to squeeze the market liquidity. This time the script of the manipulation 'drama' is bit different from the known history where they got support from two high cap illiquidities ( NEST , CTC ) to under cover their main objective of creating a rally or an upsurge in the market. They nicely timed it for the AUGUST month expecting a parallel Bank rally where indices could reach to ASI 7500 level as preached by many unexperienced TA s.
JKH made several news articals with regard to Resorts , Casinos , expansions plans and was able to jack-up the price to high as Rs 300/- driving the ASI index almost single handedly. Fortunately for the poor market , unfortunate for them , there wasn't a blind crowd of retailers to follow the unusual tune played nor a sudden turnaround in the market condition, creating a positive rally towards 7000 level. Since there wasn't the expected crowd follow Foreign Investors who realised the trap they entered started to sell the counter grabbing what ever a slice of profit making a dip to the price level. A foreign party who got the news beforehand the others was so keen to sell at low prices yesterday and the day before, made the JKH management to take a quick decision to announce the Rights and so called Warrents.
Keeping aside all the scenes of this drama beside for a further discussion, let me caution the forum members about a dirty play that could be expect in coming weeks when the Rights and Warrents are listed for trading.
This has happened few years ago , when there was a Right Issue went on for "JHL" , in good old days. It was the day the Rights of JHL were listed for trading in the board there was a huge demand of millions of rights in the buying side. (price was below 15/- if I recall correctly). Suddenly started a huge sell out JHL.R0000 counter, dumping huge parcels of rights to the buying book , a 30 - 40 millions of shares in a very quick session. Prices came low as Rs 6/= to Rs 7/= in no time, but nobody knew who was the seller . Traders who bought a right for Rs 10/- in early in the morning thinking its a fare price and was expecting to sell the same for Rs 12/- in the evening (or within a couple of days) were so shocked to see the selling spree went through and were helpless. At the end of the day we found out the seller was no one else but the COMPANY it self. Dumping the rights of company's stake to poor retailers company made some good money which wasn't a practice for known history of the CSE.
Spending a lot of valuable time I'm making light on this old story , to make aware any new members/traders in this forum to avoid any rash investment decisions as I sense the same bad smell this time around.
History can be repeated with a different share CODE this time.
I saw some senior members making a few comments on buying JKH rights/warrents at a lesser price as an long term investment.
Be cautious and make only wise investment decisions if you need to survive in this hostile market conditions.
JKH made several news articals with regard to Resorts , Casinos , expansions plans and was able to jack-up the price to high as Rs 300/- driving the ASI index almost single handedly. Fortunately for the poor market , unfortunate for them , there wasn't a blind crowd of retailers to follow the unusual tune played nor a sudden turnaround in the market condition, creating a positive rally towards 7000 level. Since there wasn't the expected crowd follow Foreign Investors who realised the trap they entered started to sell the counter grabbing what ever a slice of profit making a dip to the price level. A foreign party who got the news beforehand the others was so keen to sell at low prices yesterday and the day before, made the JKH management to take a quick decision to announce the Rights and so called Warrents.
Keeping aside all the scenes of this drama beside for a further discussion, let me caution the forum members about a dirty play that could be expect in coming weeks when the Rights and Warrents are listed for trading.
This has happened few years ago , when there was a Right Issue went on for "JHL" , in good old days. It was the day the Rights of JHL were listed for trading in the board there was a huge demand of millions of rights in the buying side. (price was below 15/- if I recall correctly). Suddenly started a huge sell out JHL.R0000 counter, dumping huge parcels of rights to the buying book , a 30 - 40 millions of shares in a very quick session. Prices came low as Rs 6/= to Rs 7/= in no time, but nobody knew who was the seller . Traders who bought a right for Rs 10/- in early in the morning thinking its a fare price and was expecting to sell the same for Rs 12/- in the evening (or within a couple of days) were so shocked to see the selling spree went through and were helpless. At the end of the day we found out the seller was no one else but the COMPANY it self. Dumping the rights of company's stake to poor retailers company made some good money which wasn't a practice for known history of the CSE.
Spending a lot of valuable time I'm making light on this old story , to make aware any new members/traders in this forum to avoid any rash investment decisions as I sense the same bad smell this time around.
History can be repeated with a different share CODE this time.
I saw some senior members making a few comments on buying JKH rights/warrents at a lesser price as an long term investment.
Be cautious and make only wise investment decisions if you need to survive in this hostile market conditions.
Last edited by Prince on Wed Aug 28, 2013 5:09 pm; edited 2 times in total
