Guys thanks for the replies.
I just wanted to confirm...
If I do as mentioned:
"C:\Users\yourusername\My Program Files\Opera Portable\launcher.exe" "--user-data-dir=C:\Users\yourusername\AppData\Roaming\Opera Software\Opera Portable NameYouWant1"
Then will the cookies get stored here?
For Chrome for example, this doesn't happen and the cookie is not stored in this folder (at least this is my understanding - for which I could be wrong).
Hope you can clarify.