The Hindu Business Line : Some strange bull leap'd your father's cow!

Khan was drying his papers on the ironing table, Sridevi sat listening to patriotic songs to celebrate the Independence Day, while Jogin was trying to find parallels for the killing of Kadirgamar in Frederick Forsyth's The Day of the Jackal. But Dakshinamoorthy brought the chat session to order… Get, set, go!

Dax: The market ended in the red on Friday. Made double top this week!

Sri : Not a bullish indication for the market. Saw crude futures?

Kay: New high of $67. Both are worrisome for the market.

Sri : Rising crude prices could start to weigh on equities…

Jog: Unless neutralised by robust FII flows as in the past few months.

Dax: But many foreign broking firms have turned bearish on the market!

Sri : Such as CLSA advising its clients to sit on 10 per cent cash?

Kay: Its report has a lot of fan following. Some correction likely this week.

Dax: I feel a fall of 500 points for the Sensex is possible.

Jog: No need to worry. Keep cash and invest on the fall of stock prices!

Sri : Chart patterns suggest weakness in the near term in index heavyweights and Nifty.

Dax: Breach of key support levels, as of dams, need to be tracked closely!

Jog: Long-term bull market is in tact. Bulls won't lose their grips so easily.

Sri : "From a God to a bull? A heavy decension! …"

Jog: "From a prince to a prentice?" from King Henry IV! "Follow me, Ned"!

Kay: Nifty's close on Friday is near to bearish trigger of 2348.

Dax: If we see a close below that level, it's no good news. :-|

Sri : Short-sellers may be forced to cover their positions later on the rise.

Dax: Street talk suggests action and upside potential in Tata Chemicals…

Sri : And McLeod Russel, NDTV, EIH and India Glycols. Twinstar Soft too.

Kay: Operators building positions in Videocon Intl, Asian Elec and Llyods.

Dax: A steady and sharp move in price is not ruled out, in my view.

Sri : ONGC may benefit from higher crude price and new gas & oil finds.

Kay: Trends in Provogue may depend on apex court ruling.

Jog: Heard Escorts would move up! Almost all analysts recommend.

Sri : Standard Industries fundas are strong. Trading at Rs 35.

Dax: Pharma stocks see recovery at last. Ranbaxy and Cipla gaining.

Jog: Ind Swift Lab jumped up sharply on Friday! Rumours of pharma order, volumes increase fast along with price. Good pick for now.

Sri : IFB Industries hit the upper circuit of 20 per cent at Rs 25.

Jog: It showed a net loss of Rs 8 crore for the quarter ending June!

Kay: In March 05 it showed Rs 34 crore loss! What's happening?

Dax: Hotel stocks likely to show firm trends. Frontline plays such as Indian Hotels and Taj GVK; several single smaller property plays such as…

Jog: Kamat Hotels, Victory Hotels, Blue Coast Hotel and Velan. Watch!

Sri : In textiles, Kovilpatti Lakshmi, Suryalakshmi Cotton and low-priced Patspin seem interesting. Anybody crunched last week's numbers?

Jog: On Aug 8, Infotrek Sys gained about 10 per cent, and Malabar Bldg booked a profit of about 7. CCL Products went up 5 per cent.

Dax: Birla Corpn got almost 4 per cent. Zee Tele, Astra Micro and Elec Casting managed gains below 1 per cent. Kay, what about this week!

Kay: Among stock specifics, things are risky! Can look at Astra Microwave Devices. There's 1:1 bonus and stock spilt from Rs 10 to Rs 2 face value. Run up fast, but still looks worth investing at Rs 2,400.

Dax: Another high-value stock to look at is Financial Technologies.

Sri : The starting of Dubai Metal Exchange is the big trigger for the stock.

Kay: Among small-value ones, Maikaal Fiber can be bought at Rs 13. Catch this stock early morning; otherwise you may not get the stock!

Jog: I know, a leading market player bought the stock around Rs 10.

Sri : Rajshree Sugar is galloping forward. Up from Rs 55 to Rs 82 in no time. Settled around Rs 78. Good times for sugar companies!

Kay: Look at Subhash Projects, into water management and infrastructure. Started looking up on the bourses all of a sudden!

Dax: Like other infrastructure sector outfits, it's talking about orders.

Jog: Beeyu Overseas, shall I buy-u? "Bull Jove, sir, had an amiable low; and some such strange bull leap'd your father's cow," as in Much Ado About Nothing.

Sri : Small tea company, which recently did a follow-on offer, has moved up to Rs 22-plus. Was around Rs 18 or so till recently.

Kay: There might be some more steam left, investors say while referring to the fortunes of other tea companies.

Dax: Remember this quote of Johann Wolfgang von Goethe: "Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time." Take care, therefore!

** Lee, with inputs from Vir, Nat, Mad, Nil, The, Ala, Ace and Sve.

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