Thursday, November 14, 2013

Market Mantra
In the Morning a buy call was initiated for the Paid / Premium Members  after that Sensex soared more than 250 points from yesterday's closing levels. The short term parameters are still showing an oversold kind of situation. The XXX-XXX (for Paid Service Members) level has already given the Paid Service members a good entry chance--a long drawn rally cannot be ruled out in view of the positive statements coming both from the Indian Central Bank and the US Fed.  
Resistance: XXX / XXX
Support: XXX / XXX
Results Today:
Aftek, Amara Raja, Bhushan Steel, Bombay Dyeing, COX KINGS, Gitanjali Gems, Hanung Toys, HDIL, Hindustan Dorr, Jaiprakash Asso, JPPOWER, Kernex Micro, S Kumar Nation, Tata Power, Unitech, Videocon Inds.
Kavveri Telecom Ltd (Rs.29.50) is ONLY BUYER in the NSE. In BSE also it is up more than 5%. The company is coming up with results today and hence activities are seen ahead of the results.
Tulip Telecom Ltd (Rs.7.30) is coming up with Q2FY14 results today (14th November, 2013), which will be along the expected lines. But what the market will be looking is, whether the loss on sequential basis (Q-o-Q does not carry much value) has widened or has come down. The market has already factored in a bad results by Tulip Telecom Ltd and the price of the share has never moved up in this rally. Also, there are problems in the company regarding payment of salaries of some of the employees. However, some of its offices, like that of J&K, Nagpur, etc, are open according to my close sources, though there are large number of absentees in most of the offices. 
BGR Energy Ltd (Rs.107.20) today touched Rs.109.90, after coming up with good results beating market expectations. The company has good order book position and should move up in the coming days, inspite of negative view on the sector from some marketmen. 
Today Allahabad Bank Ltd (Rs.89) was recommended by a well know Chartist in a business channel with a price target of Rs.93. I feel the correction in the stock is over and with INR stabilizing against the USD, most of the bank stocks will now again start upward journey. Allahabad Bank Ltd has already come up with good results for Q2FY14 and hence its chance of move up quickly is more promiment.