Thursday, March 13, 2014

Today as expected the Nifty tanked just after my report to the Paid Service Members delivered on the Premium Blog in the late hours of trade. It was clearly mentioned that, a though a break-out above 6400 has put Nifty into a new orbit of no resistance zone, but its inability to cross 6560 for third day in succession could point out to the fact that a strong resistance exists at this level. The report in the Paid Blog further mentioned that: 'At present the Nifty (spot) is just below the immediate resistance at 6545. The traders are suggested not to for Nifty longs unless it clears the resistance zone of 6560-6565 (Nifty Spot)'. Therefore, those Paid Members, who shorted the Nifty corresponding to 6543 (this was the spot level at that time) of Nifty_Spot might have made money today also. Another thing which is worth noting is that though the indices came down at the end, but the FIIs turned net buyers of Rs.616.62 Cr today also, though as  usual, DIIs turned net sellers to the tune of Rs.314.4 Cr. It really surprises me to see, DIIs' sell figures everyday---the question which haunts me is: from where is so much selling coming from the domestic institutions??!!
Glodyne Technoserve Ltd hit buyer freeze, but later closed at Rs.6.60, just a tad below the freezing limit of Rs.6.61. The sources says that the company is taking measure to improve the bottomlines--but God knows what the promoters are doing, other than giving out empty promises. The investors should exit the scrip when it touches Rs.14-15, in the next rally. There is no need to stay invested in the shares of company, where the PROMOTERS are of this CATEGORY. 
Shree Ganesh Jewelry House (I) Ltd (Rs.25.55) today closed in the Green inspite of market coming down at the end on the twin hopes of getting the required nod from the consortium of banks for its CDR Scheme and also on the optimism that the Commerce Ministry is working in tandem with the FMO, to find out a viable solution to ease Gold import restrictions. Meanwhile, All India Gems and Jewellery trading body chairman Haresh Soni told the Bullion Desk earlier this week that he is hopeful that there will be a change to the 80:20 rule within weeks. You should buy the scrip and keep holding. This will definitely give you good returns over a period
Entegra Ltd, also hit the upper freeze today before closing at Rs.3.39. According to the sources, the three turbines of Entegra Ltd’s 400 MW Maheshwar Hydro Power Project are likely to start whirring by 30 June 2014. The investors should continue accumulating the counter on all declines.