Don’t Forget About India (REDF)

April 19, 2011 Scott Redler

We’ve seen a lot of strength in the Chinese internet group for the past year, especially over the last few months. I think if you glance over to another major emerging market, there is also money coming into Indian Internet stocks, namely Rediff.com India Limited (REDF).

Rediff.com India limited provides online internet based services with a focus on India and the global Indian Community. Technically I’ve seen a few set ups here. Now it looks ready for new highs. I’m long tier one and will look to add above $9.50-9.90 for a move to new highs. Typically you want to see big volume to support such a break out. Stops would be $8.80.

(click to enlarge)

Disclosure: Long REDF

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

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Don’t Forget About India (REDF)

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