Friday, March 14, 2014

As expected, the Nifty tanked today in the early trade to 6432.70 levels as profit booking set in from the overbought positions. Those who have shorted the market yesterday must have made further money today in Nifty_Futures. However at the end of the day, the Nifty managed to eke out a gain and closed at 6,504.20, up 11.10 points. What is more satisfying is to see the Nifty_Spot conquering 6500 levels once again. Time and again the level of 6470--6480 is providing a strong support level for the bulls which is heartening. Today also, while the FIIs were net buyers to the tune of Rs.982.19 Cr, the DIIs were net sellers of Rs.866.42. This raises the general question as from where so much selling is coming months after months from the DII front!! 
Entegra Ltd hit the buyer Freeze and closed at Rs.3.45. The stock had been strongly recommended as a buy, in this blog. Yesterday, I presented some link to attest my argument that the scrip is definitely going to give superb returns going forward. 
Today, the shares of both, Allied Digital Services Ltd (Rs.11.92) and Glodyne Technoserve Ltd (Rs.6.28) tanked. While the SEBI is busy with Sahara India Ltd, it probably forgot to nail the promoters of these two listed companies, who are enjoying their joyous ride in the company. Anyway, everyone knows how this regulator of the Indian Market Works--so no hope for them to act.