Enter OnMobile at 225-230: Sharyan Resources

On the charts OnMobile Global do you still see some bit of a potential for the stock to move up higher? 13% was the intraday high, its cooled ofF from there but where may they may be from a 1 month to 2 month perspective?

CK Narayan: It is possible because it is one of the few stocks from the future space that is actually maintaining an upward traction and that has been helped along by the recent news of a generous bonus shares as well as and if your analyst were to be believe then the market seems to be in an express move to sell the stake of OnMobile to somebody or the other. It seems the market is in a mood to sell off OnMobile whether the promoters are interested to do so or not. But like you also said half the cliché says sort of buy on rumours and then the rest of the cliché is sell on the news.

Since the news has not yet come we need to still keep buying on the rumours. The trend is good 260 is where we had some amount of resistance so that is where it hit and it is actually halted there because the overall trend of the market itself is a little weak today and being a weaken lot of bullish traders would be happy to take home some profits. But I would retain some bullish view on this. I would look for a drop down to 225-230 as the nearest buying point in the stock or as and when the market trends revive and the shares remains up this is one of the stock I would prefer to trade from a bullish angle right now.