I read coin desk and follow the bitcointalk threads about Alts and slacks of coins.is there any other effective ways to do proper research on new alt currencies. Any advice would be appreciated.
You are doing it right already, just follow their ANN thread and any service discussion about their thread and you'll be fine.
Most of the things that you need to learn about your research on a certain project will be already there.
ANN of a project might not give accurate analysis of a project especially if the thread is self moderated, another thing is those people that are paid to hype the coin just to generate attention