Three most important triggers for RNRL's Call holders turns out agains us.....
1st Case between RIL & RNRL which was suppose to get hearings on daily basis got posponed to July 31st, which is not a good news for RNRL option holders.
2nd trigger was during its Q1 result some good announcement, but no great announcement was done except appointment of Vice Chairman for RNRL which was not a great news.
3rd trigger was Amar Singh taking power ministry, timing of which can't be predicted, it can come anytime.
Since, Option has already lost most of its value, we are left with two choice either to exit with remaining value or to stay invested because no body knows what will happen in next 3 days.
As of now RNRL Call Option turns out to be a bad decision but wait, for the next 3 days and see how it turns out. Since, it is going in high volume and not falling much so downside is minimal, any good news in next 3 days can move it by 10-20% upside.
-HBJ Capital Team
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