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Tuesday, February 03, 2015

Market Mantra
Today is perhaps a day of the small cap counters, as many of them are either seen moving up or has hit the upper circuits. The large cap driven Nifty is down today by more than 60 points and is now trading at 8734.45. Yesterday, we saw both the FIIs and DIIs were net sellers and hence, the nervous investors are probably offloading the shares of the large caps and entering the small and mid cap counters. Keeping this in mind, the Premium Members were suggested to buy C Mahendra Exports Ltd at Rs.14.20 (BSE Code: 533304), the scrip has already hit the buyer freeze. 
Today Rohit Ferro Tch Ltd touched Rs.9.15, intra-day and is now trading around Rs.8.70. It is natural for the scrip to go for some profit booking after a continuous rally of some days. The investors should accumulate the scrip on declines and keep holding.
Even when the large caps are going for a correction, one stock which is still somewhat holding its territory, is Jindal Saw Ltd. The scrip is marginally down and is now trading at Rs.81. The company came up with satisfactory set of numbers for the Q3FY15 and should touch Rs.92, once the market stabilizes. The investors should stay put in this O P Jidal Group company. 
Reliance Capital Ltd which touched Rs.495.90 today in the NSE has come down to Rs.480, after profit booking started. Yesterday, it was mentioned in this blog, that the scrip has touched its short term target of Rs.492.
Firstsource Solutions Ltd (Rs.29.20) in which the ace investor, Rakesh Jhunjhunwala holds stake, is struggling to cross the resistance zone of Rs.29.5--29.70. However, it is interesting to note that in August, 2014, the brokerage firm, ICICI Direct valued the stock at Rs.50. Even Prakash Diwan of Altamount Capital, in a interview with ET Now on 27 January, 2015, said he is positive on Firstsource Solutions Ltd. The company recently announced that a meeting of the Board of Directors of Firstsource Solutions Ltd will be held on February 09, 2015, to consider, the audited standalone and consolidated financial results for the quarter ended December 31, 2014 (Q3).
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