Tuesday, February 04, 2014

Entegra Ltd hit the Upper Circuits in the opening, before coming in for some selling.  Investors should use such dips to accumulate the counter. CMP: Rs.3.48.
Suzlon Ltd which was recommended to the Paid Service members only a couple of days today touched Rs.11.55, before closing at Rs.11.43. The stock could move upto Rs.12.30, before any fresh trigger takes up even higher. 
Today a buy was recommended in HCC Ltd at Rs.12.70-12.80, for a target of Rs.15-17, after the company came out with superb set of Q3FY14 numbers. It touched Rs.13, intra-day before, closing at Rs.12.85. Tomorrow it is expected to open gap  up.
A buy call was given on Shree Ganesh Jewellery House (I) Ltd (Rs.25.20), Gitanjali Gems Ltd (Rs.61.95) and P C Jeweller Ltd (Rs.74)--most of them closed flat indicating that, at any moment the government of India could announce relaxation of Import Duty on Gold. Commodity Trade Mantra  writes on 4th February, 2014: "Since 2010, China has been buying gold and not buying US Treasuries. China’s plan seems to be to acquire a total of 6,000 tonnes of gold to put its holdings on a par with developed countries and to elevate the international appeal of the renminbi. In 2013, China imported over 1,000 tonnes of gold through Hong Kong alone, and it’s likely that as much gold came through other sources. For example, last year the UK shipped 1,400 tonnes of gold to Swiss refiners to recast London bars into forms appropriate for the Asian market. China mines around 430 tonnes of gold per year, so the combination could be 2,430 tonnes of gold snatched up by China in 2013, or 85% of world output. India was expected to import 900 tonnes of gold in 2013, but it may have fallen short because the Indian government has been taxing and restricting imports in a foolish attempt to support its weakening currency. Smugglers are having a field day with the hundred-dollar-per-ounce premiums. Other central banks around the world are estimated to have bought at least 300 tonnes last year, and investors are buying bullion, coins, and jewelry in record numbers. Where is all that gold coming from?".