Financial Daily from THE HINDU group of publications
Monday, Feb 07, 2005
Financial Daily from THE HINDU group of publications Monday, Feb 07, 2005 |
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Stock Markets Markets - Stock Markets To profit from advice requires more wisdom than to give it
Chuckling at the latest announcement on chucking in cricket, Sridevi wished that deviant trading too got such merciful treatment. Across the city, Khan was logging on for the market chat, beckoning her to join. Jogin and Dakshinamoorthy too chugged along. Catch up! Kay: Let me first blow the bullhorn. Moo... Wow! Market mood is optimistic. Jog: Sensex will touch a new high. Target before Budget should be 7K. :-) Sri: Before you celebrate, see chart patterns. They point to near-term weakness. Dax: But strong FII flows are +ve for market. If Nifty gets support at 2060... Kay: Then, it will be a bullish trend a-waiting. It has strong resistance at 1990. Jog: Yeah, that should be breached for any further big upward movement. Sri: Don't join any resistance movement, guys. My favourite sugar is continuing to do well. Jog: True, there's huge interest in all counters. So, hold or buy sugar stocks; it'll be sweet for your portfolio. But pricing of Balrampur Chini pref offer likely to act as a drag despite stock-split. Dax: Forget the madcap, Sri. Look at mid-cap, it's still buzzing. My list has Everest Industries. Kay: Open offer at Rs 147 per share is already announced. But price may go up as several investors have raised objections. So too, ACC open offer price may be hiked to around Rs 425. Sri: Reduction in coastal shipping rates may trip Sreyas Shipping and Bharati Shipyard. Oh, ship! Jog: There was good buying in textile stocks on Friday. Looks like next week belong to textiles. I'm planning to build positions in Alok Ind, Garden Silk, Welspun India, Abhishek Ind. Sri: Arvind, Century and Bombay Dyeing look good. S. Kumars hit 20 pc upper freeze on Friday! Kay: Reliance Infocomm litigation is taking a serious turn. I'm afraid it may affect RIL stock. :-( Dax: Steel your mind, Kay. They say some big steel player wants to take over Bellary Steel. Jog: At current price of Rs 7 it is worth a look. But exit if the stock crosses Rs 10 level. JMO Sri: SAIL, Jindal Iron, National Steel will be abetter investment in the long run. Steel Exchange, manufacturing steel ingots, wants to hike capacity. Made profits at last. Buy for medium term. Kay: Bank of India declared interim dividend. It closed at Rs 87, but there's more upside, I feel. Jog: Last week, cement counters flared up after prices rose in the South. Essar, anybody? Dax: Essar Oil & Essar Shipping may look up; they did substantial fund mobilisation abroad. Sri: I've been watching TV, not soaps but business channel. NDTV is scoring well with good rating! Jog: On power, I see NTPC attracting some buying, as board is to meet for dividend announcement. Kay: Surana Telecom may be actively traded because of stock split. If you make profit, we'll split! Sri: Not a bad idea. "When profit is unshared it's less likely to grow greater," said Malcolm Forbes. Dax: Fine, now hear my song of SingTel. Its indication of raising stake in Bharti Tele looks +ve. Jog: As Alexandre Dumas pointed out, I'd blame you all if I don't profit from your advice! Kay: Wait: "To profit from good advice requires more wisdom than to give it," John C. Collins said. Sri: I like best this warning of Norman Cousins: "History is a vast early warning system." Getting late! * * * * *
Lee, with inputs from Vir, Nat, Mad and Sve.
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