Tuesday, March 17, 2015

Yesterday, Elecon Engineering Ltd was recommended at around Rs.59.30. The scrip today made a high of Rs.61.20. Today the scrip closed at Rs.59.35.
There is no stopping of Rasoya Proteins Ltd as the scrip hit another buyer freeze in both the NSE and thee BSE. In the NSE there were 35,41,902 buyer at Re.0.95. This is another scrip after Western India Shipyard Ltd, which has given more than 50% returns in less than 2 months. 
Jaiprakash Power Ltd remains a strong buy at the CMP of Rs.11.14. There are lot of positive developments taking place in the company. However, I know many of you will not buy this scrip now, but will run after it after it crossed Rs.14. Unfortunately, some traders think that share market is a CASINO, which means, you put Rs.100 and it becomes Rs.1000 in a matter of few hours. 
Today, the Premium Members, were informed during the market hours that: 'The market looks slightly oversold and a rise above 8680 may attract buying interest--till then it is no-man's game. The investors are suggested to take a wait and watch policy". The buying at last came above 8680 and the Bulls finally managed to close Nifty at 8,723.30 up 90.15 points. The trend in the Nifty has again turned slightly bullish, after Nifty closed above 8700. Thus the Benchmark indices ended firm with Nifty reclaiming 8,700 mark amid choppy trades on fresh capital infusion by investors owing to strong global cues. Moreover, today, FIIs were Net Buyers to the tune of Rs.192.56 Cr, while the DIIs sold shares worth Rs.243.69 Cr. In case of Futures market, according to the experts, a close above 8776 is likely to change the trend into positive and is expected to drive the Nifty towards 8900 mark.
The shares of Jenson and Nicholson (India) Ltd (Rs.8.660, an old Paint Company whose plant in West Bengal is closed and has huge carry forward losses is being jacked up by a section of operators in Mumbai and Gujarat, on the speculation that it would get a relief package from BIFR. The scrip today touched an intra-day high of Rs.8.86. Stay away from such counters. When you are getting A-group scrips like Jaiprakash Power Ltd at Rs.11.14. GMR Infrastructure Ltd at Rs.16, is there any need to look at these kinds of rotten paint companies. The stock of Jenson and Nicholson Ltd with FACE VALUE of Rs.2 has already become 4-times, in the last one year. The BIFR thing according to my sources is going on since the last 6-7 months, but operators decided to push up now, as it is obvious that they would distribute the shares, like they did in case of NTC Industries Ltd (Rs.71.10), Global Vectra Ltd (Rs.44), etc. 
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