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December 18, 2023
- *The Hypothetical Impact of Dawood Ibrahim's Demise on Offshore Wealth and Financial Services.*
- In a speculative turn of events, the unconfirmed news of Dawood Ibrahim found unconscious after suspected poisoning has sparked global speculation. While unverified, if true, this news could potentially reshape the dynamics of international finance and security.
- Dawood Ibrahim, a figure synonymous with underworld operations and alleged ties to illicit financial activities, holds a vast empire of offshore wealth estimated to be around $10 Billion. Reports suggest his connections to various financial institutions and the subsequent revelation of his offshore holdings may now face a significant shake-up.
- Speculations arise on the potential consequences of his demise, with rumors suggesting a possible takeover by ISI, Pakistan's intelligence agency. This is expected as the ISI has lost their major source of running overseas covert operations due to intense power struggle with Afghanistan Taliban regime seeking legitimacy to function as official representative of Pakistan.
- Remember Dawood is principal provider of financial services to narcotics traffickers and jihadists across South Asia - a business pegged at over $10 billion a year, which uses front companies to access the global financial system.
- Stock to watch
- 1) IDFC FIRST BANK is on the verge of a Symmetrical Triangle breakout on the daily chart. The stock has bounced from its 100-day EMA. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 90 to 87 and can test 103 support at 84. Positional view
- 2) BASF INDIA has seen a long-term Falling channel breakout on the daily charts. The stock has formed a Bullish candle with strong volumes. Momentum indicator RSI is also positive on the daily chart. Therefore, the stock looks good on dips to 3040 and can test 3400 support at 2899. Positional view.
- 3) KAYNES TECH has seen a Triangle pattern breakout on the daily chart. This breakout was supported with strong volumes. The momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 2580 to 2540 to test 2970 support at 2215. Positional view
- 4) DELTA CORP is consolidating in a tight range of 150 and 121 on the daily charts. The volumes spiked in Friday's trading session and the stock settled on a positive note. The momentum indicator RSI has seen a positive divergence on the daily chart. Therefore, the stock looks good in the range of 140 to 135 and can test 180 support at 119. Positional view
- 5) OLECTRA GREEN is on the verge of a Triangle pattern breakout on the daily charts. On Friday, stock took an attempt for a breakout with strong volumes. Momentum Indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 1280 to 1260 and can test 1470 support at 1157. Positional view.
- For charts you can visit my X @RahulRanderia
