Market Mantra

Pipavav Defence and Offshore Eng Ltd is doing well today, with the stock almost hitting the Upper Circuits Intra-day. The scrip  touched a high of Rs.45.30 intra-day and is now trading at Rs.44.5. The momentum is very strong in the counter and I would not be surprised if the scrip hits another Buyer Freeze today also.
Gitanjali Gems Ltd have started to move up. Today it touched an intra-day high of Rs.62.95 and is now trading at Rs.62.30. We could see a rally in Gold based stocks before Deepawali. 
Etegra Ltd which was recommended to some of  my close friends, last week at around Rs.3.35, today high another buyer freeze at Rs.3.48, in the BSE. 

Today's call (to the Premium Groups): Buy J P Power Ventures Ltd at Rs.12.50, for a target of Rs.17. The scrip seems to have formed a base around Rs.12.10--12.40. Meanwhile, the Finance ministry officials will meet on Friday to explore ways to get stalled power projects back on track and to help prevent them from becoming non-performing assets for banks. Recently, there were also media report that, in its third attempt to strike a deal for its power assets, Jaypee Group inked a binding pact with Sajjan Jindal-led JSW Energy for selling three projects, including two hydel plants. The announcement came after Jaiprakash Power’s proposed sale of three hydro projects to Reliance Power had earlier fallen through. “JSW Energy Ltd (JSW) and Jaiprakash Power Ventures Ltd (JPVL), announced the signing of binding memorandum of understanding (MoU), for the 100 per cent acquisition by JSW of three operational plants of JPVL,” the companies had said in similarly-worded statements. The plants are — 300-MW Baspa-II Hydro Electric Plant, 1,091 MW Karcham Wangtoo Hydro Electric Plant and 500 MW Bina Thermal Power Plant, it added. 
The Indian Stock Markets are witnessing high volatility, near the crucial support of 7800--a rise above 8000 may trigger a fresh rally. Nifty is now trading at 7889, which is just above the immediate support of 7850. Share indices are trading in a cautious note ahead of Maharashtra elections, due tomorrow, i.e. 15th October, 2014. However, many analysts are not expecting too much downside from here, as data on India's consumer price index-based inflation hit a record low in September, 2014. Also, the much expected Deepawali Rally is on the cards.