Wednesday, February 12, 2014

It was almost a boring session today, and at the end markets which opened at 6085.35 closed at 6084. In the morning, the Premium Members were asked to watch for the level of 6070, and to press any exit button from the Future Positions, if this level is violated. Market is witnessing a rally after Nifty found a support at 5930-5970 levels. However, the rally is not finding the usual strength and appears more like a pull back. On the higher side 6120-6130, is expected to provide resistance. However, the stocks in their individual capacity might continue to perform in the bourses. 
Allied Digital Services Ltd (ADSL) today touched the upper circuits at Rs.13.74 intra-day before closing at Rs.13.43. I think the market understood the real reasons behind the poor (DOCTORED?) Q3FY14 results. There is as such no problem in the company and the salaries of the employees are coming on time. However, the promoters of the company are greedy and unethical like those of Glodyne Technoserve Ltd, SEL Manufacturing Company Ltd,  etc. They have no sympathy for the shareholders, some of whom are holding since the last 2-3 years--losses running few lakhs in some cases. 
Most of the Jewelry stocks did well today. P C Jeweler Ltd (Rs.82.85) touched Rs.84, Gitantaji Gems (Rs.63.80) touched Rs.64.40 and Shree Ganesh Jewelry House (I) Ltd (Rs.26.30) intra-day. The commerce ministry has recommended to the Finance Minstry for a possible import duty cut for Gold. Investors should buy these scrips and keep holding. Look at Manppuram Finance Ltd--those who bought few months back at around at around Rs.15 and kept holding, could have already made more than 50% return on their investments. Today, Manappuram Finance Ltd closed at Rs.24.40, after touching Rs.25.65, intra-day.