Market Mantra

The Nifty is  now comfortably above the immediate support and thus it again becomes buy on dips. The Asian markets are not doing too badly. Moreover, any rise in oil price would be positive for the Crude Oil Exploration Companies (RIL, ONGC, Selan Exploration, Shiv-Vani Oil and Gas exploration, etc). The tensions in Iraq is very little to do with India. Hence, these are times to accumulate good stocks, which have fallen from their peaks. 

Today's Call: (i) Buy Suzlon Energy Ltd at Rs.28.20-29.30, T--Rs.34-35, SL--Rs.27. It seems for the moment the scrip has completed the correction. The dip today, seems to be good for buying. 

(ii) Book Profits in Veer Energy and Infrastructure Ltd (Face Value: Re.1) at Rs.6-6.10, because one of their major projects might get delayed. Also, there are some management issues in the company. The scrip might again come down to below Rs.5.5. Invest the same money either in IVRCL Ltd at Rs.25 or Allied Digital Services Ltd at Rs.21-21.40. 

Resurgere Mines and Minerals Ltd hits another buyer freeze in the opening trade at Rs.2.12 in the BSE. The scrip is expected to hit continuous buyer freezes from here. 

The Rights issue of IVRCL Ltd (Rs.24.40) is on the anvil. The investors are suggested to buy the scrip in bulk and keep holding. There are lot of positive news coming in the company. 

Allied Digial Services Ltd, hit the buyer freezes in the afternoon trade at Rs.21.40. The scrip was asked to be accumulated yesterday, in this blog.