Wednesday, February 19, 2014

P C Jewelers Ltd today touched Rs.94.90, intra-day before cooling down at Rs.93.95.  I had already given a target of Rs.102-103 for the scrip in the short term. In the same way, Shree Ganesh Jewelry House (I) Ltd today touched Rs.28, before cooling down at Rs.26.95. Gitanjali Gems Ltd touched Rs.65.75 before closing at Rs.64.25. All these Jewelry companies came out with satisfactory set of numbers for the Q3FY14. You just need to buy and keep holding, till they are near their targets--please don't trade.  March, 2014 is very near and the government of India,  is likely to relax the import restrictions on Gold. However, more than all those tall talks of reducing fiscal deficits through curtailing gold imports, it seems there are other reasons for the keeping the restriction in Gold Import intact. DNA India, on 16 February, 2014, writes: "As a result the biggest beneficiaries will now be politicians and other powerful people who want to convert their ill-gotten gains held in dollars into rupees just before elections. In fact, as this column has argued, what matters is not the CAD, but the manner in which fiscal policies are managed". Therefore, these Gold Jewelry companies are expected to do well in the coming days. Shree Ganesh Jewelery House (I) Ltd is also into Gold Refining, Mining and Gold Loan--buy as much as possible and keep holding. 
Entegra Ltd (Rs.3.71), has again started to move up. You need to invest 50% of  your present capital in the scrip and keep holding. This scrip would double your investments in just 4-5 months time frame. 
Yesterday, a buy call was initiated on Glodyne Technoserve Ltd at Rs.6.70, saying it would not break the support of Rs.6.70-6.50, because of some news which I received from my close sources. Today the scrip hit the Upper Circuits in the BSE. I am expecting a short term target of Rs.14-15 for the scrip.  
BHEL was given a buy yesterday, with a target price of Rs.154. Yesterday, it touched Rs.151 and today it touched Rs.152.25. I hope those who were long on Nifty_Futures certainly made money during the last couple of days. 
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