In fact the markets got a strong bounce back from the level of 7250. Nifty seems to have entered into a consolidation range between 7250 and 7500 which is evident by last 15 days move. Now focus should shift to the small and mid cap counters, where more action is anticipated.
Resistance: 7500 / 7560
Support: 7370 / 7330
Yesterday, a buy call was initiated in Dhunseri Petrochem & Tea Limited at Rs.127-128, the scrip today raced to Rs.135 intra-day. It is expected to cross Rs.200 in the coming days. A decent P/E rating of around 10 can take the scrip above Rs.200. There is a demand for the products of the company and FY15, is expected to be superb year for the company after general capacity expansion.
Western India Shipyard Ltd hit another buyer freeze at Rs.2.77. The scrip mentioned umpteen number of times earlier is expected to give multi-bagger returns going forward.
Buy Dr.Datsons Labs Limited at Rs.18--18.45 for Upper Circuits. This is our old Aanjaneya Lifecare Ltd, which I recommended a number of times earlier. According to media reports:
- European pharma player Mires B.V has completed its valuation exercise as part of its interest to acquire majority stake in Mumbai-based drugmaker Dr Datsons Labs Ltd, the company announced in a stock exchange disclosure.
- Dr Datsons said Mires completed the valuation of the two plants of the company situated at Mahad and Pune. The total fair valuation of the company stood at Rs 350 crore of which valuation of its fixed assets stood at Rs 270 crore.
Jai Balaji Industries Ltd hit another buyer freeze at Rs.29.40. The scrip as mentioned earlier is moving towards Rs.31-32 in the coming days.
Yesterday, all were asked not to sell Marg Ltd (Rs.18/75) but some oversmart traders started to put sell calls as soon as I sent the message. Those guys must be on the streets now. The moral of the story is that: you should have faith on someone, who has been with you since more than a decade. And those who think themselves to be too clever, never makes any money from the markets.
Glodyne Tech Ltd hit another buyer freeze at Rs.8.83. It is strange how the scrip is trading at such a low price. It is a huge company and it is expected to hit continuous upper circuits from now.
Buy Capri Global Capital Limited (Formerly Money Matters Financial Services Ltd) at Rs.154 for a target over Rs.200. It is a cash rich company and is doing extremely well.