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Tuesday, December 31, 2013

WINNING STROKES: THINK DIFFERENT
As expected the Nifty took the support in 6270-6280 ranges and closed above 6300. The markets looks to be in control of the Bulls, but the action will be shifted to stock specific counters. FIIs today, i.e. on 31-Dec-2013 were net buyers to the tune of Rs.309.7 Cr.
Today Rolta Ltd touched Rs.67.85 before closing above the support of Rs.67. 20, on the NSE confirming the end of the downturn. The scrip fell from around Rs.380, to the current price of around Rs.67.20. The company's CMD said, that it has started to get dividends from the investments during the last 5 years. It is only time that the scrip would give stupendous returns. The company's Financial Year starts from September, 2013 and hence any loss in the June, 2013 quarter will have no impact on the FY14 balance sheet. Moreover that was an one time loss, which was shown as an exceptional item in the P&L account. The investors are suggested to buy the scrip on every decline and keep holding. Buy around 5000-10, 000 shares of the company if possible and keep holding like your fixed deposit. 

Today, FRL touched the 2nd target of Rs.77, before closing down a bit. The stock should consolidate at this levels before moving up. However, Future Retail Ltd is mired in debts and the current business is not going too good and hence the investors should not take too deep position in the counter. 
My recently recommended, Essar Oil Ltd reached its first target of Rs.55 as it touched Rs.55.50, intra-day. The stock is expected to consolidate around this range for some time before moving up. 
Reliance Power Ltd (Rs.73.20), has started to look good on the charts. Fundamentally, speaking there are two positives in the counter, basically: (i) The CBI has closed its preliminary enquiry into the alleged irregularities in coal block allocation for the company's ultra mega power project in Sasan, Madhya Pradesh. CBI sources said it has come to light that use of surplus coal from the Sasan UMPP was approved on two separate occasions by two EGoMs. They said since it was a policy decision, CBI was not likely to question it and (ii) Top government sources have told ET NOW that the Power Ministry is reworking a proposal that will exempt Ultra Mega Power Projects (UMPPs) from mandatory afforestation. According to analysts, Reliance Power's Tilaiya UMPP, which mired in land controversy, will be one of the major beneficiaries. The investors should buy large quantities of the counter, say 5000-10, 000 shares and keep holding for a target of Rs.107. CLICK HERE.