Wednesday, March 12, 2014

Today a cautious stance was indicated in the PAID BLOG, especially when the key economic data was scheduled to be released post market hours. Yesterday, the market witnessed profit booking and Nifty (Spot) closed with a loss of 25 points. A breakout above 6400 has put Nifty (Spot) into a new groove with no resistance zone. However, inability to cross 6560 even in the 3rd day in succession shows high resistance at this level. The traders need to watch this level closely and take decisions accordingly. The Paid Group members, who shorted the Nifty corresponding to the spot rate of  6523, must have  made some money today intra-day, as Nifty closed at 6516.90. Today, though FIIs were net buyers to the tune of Rs.864.35 Cr, the DIIs (don't know from where they get so much to sell since months) were net sellers of Rs.821.97 in Indian equities. 
TV18 Broadcast Ltd (Rs.23.05) which was recommend some days back, today closed above the psychological level of Rs.23, which is positive. The investors in the share should keep it holding. 
VIP Industries Ltd which was recommended some months back, here in this blog (if you can remember) at around Rs.45-48 today touched Rs.78.30, before closing at Rs.77.30. The scrip has given a clear break out and the next level seems to be Rs.86.87. Those who are still holding can continue to do with a SL of Rs.73.70. 
Today, the scrip of Allied Digital Services Ltd touched Rs.13, before closing at Rs.12.74, up 3.68%. Hope Nitin Shah & Co, will start rewarding the shareholding, after sucking the company in collusion with his pet-group; since the last couple of years. What is surprising is that: he can take his monthly salaries and pay his employees, but he is  not able to do the same in case of Shareholders who have invested money in this company---what an irony. But then what to comment on such Cheap Persons!