The Hindu Business Line : It is easy to give advice from a port of safety

Khan was at page 456 of the massive 'Outcome Budget'; Jogin was desperately on the trail of 'Hurricane Katrina'; and Sridevi was chuckling over a 'Hari Puttar' story! All till Dakshinamoorthy sounded the chat siren… Make way!

Dax: Hi, all! Grrr… That's the overall mood in the market: Bearish!

Sri : If you follow the contrarian approach, I believe you'll be successful.

Kay: Many foreign broking firms have put a sell on the Indian stocks.

Jog: Yet, suna tha ki they have sold large positions of stocks...

Dax: For their FII clients! And now they want to buy at lower levels.

Sri : So, the market is unlikely to fall sharply this week, you suggest?

Dax: Dekho, chart pattern suggests weakness in the Nifty.

Kay: Markets snapped weekly gaining streak and Sensex was down 1.29 per cent in the week ended Aug 25.

Dax: Slowdown of FII activity was the main reason. :-|

Jog: Nifty closed on Friday at 2,357. I see a possibility of correction...

Kay: As it faced resistance at 2,368?

Sri : It all depends on liquidity, samjhe? "Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted," reminds Albert Einstein.

Kay: It's fifty-fifty. Sensex may move in a range between 7600 and 7850…

Dax: For the next few days?

Jog: Mid-caps continued to hold sway, making big gains last Friday.

Kay: Mutual funds were focussing on small-cap and mid-cap stocks.

Sri : What happened last week, any numbers koi?

Dax: Siel registered a gain of 20 per cent last Monday, and Scandent made about half that! Mount Everest earned a profit of 10 per cent.

Jog: On August 22, JCT was up 7. Blue Star with 4 per cent and TTK Prestige with about 1 per cent were other gainers.

Dax: What about this week's kundli?

Kay: GE Shipping may show weakness ahead of restructuring moves.

Sri : Accretion to order book to boost Jaiprakash and Siemens.

Jog: Street talk hints action in India Glycols, Indswift and Freshtop Fruits.

Dax: In the momentum stock category, keep an eye on Kitply, Radhey Developers and Galaxy Entertainments.

Sri : "The hardest arithmetic to master is that which enables us to count our blessings," Eric Hoffer points out!

Kay: Consolidation plans to favour Clariant, Colour Chem & Vanavil Dyes.

Jog: Imposition of anti dumping duty could help Nocil, ICI and Bayer India.

Sri : As decks have been cleared for its acquisition of Electrolux, Videocon International stock will be in the limelight, I guess.

Kay: Listen, Vrinci Technologies has acquired a company in US in a stock-cum-cash deal. A stock worth buying for this week.

Dax: Apollo Sinduri, a stock-broking firm listed last week rose sharply!

Jog: If sitting on profits, exit for the time being. My humble suggestion!

Sri : Me too! From this move on to McDowell and other liquor stocks.

Kay: Prices of molasses have fallen by 25-30 per cent and this will benefit liquor firms. Look at Shaw Wallace, and Mount Shivalik Breweries!

Jog: On Friday, HSBC bought more than 10 per cent stake in S Kumar's Nationwide. Stock has potential to rise sharply.

Dax: "It is easy to give advice from a port of safety," said F. Schiller!

Sri : Has anybody looked at IDFC after initial post-listing euphoria ended?

Kay: Still above Rs 60. Considered a good candidate for a smart upswing.

Jog: Remember the IPO price? Rs 34...

Dax: What about Kanika Info? Penny stock (Rs 2-plus) drawing attention.

Sri : After it morphed to Kanika Infrastructure and Power!

Kay: It has informed the exchange about its plan to enter new businesses.

Jog: Now, investors expect the move to help lift the stock to higher levels.

Kay: That makes me angry; so I count to four, as Mark Twain suggested!

Sri : Mangalore Chem, any vichaar?

Dax: This counter has suddenly started buzzing, moving up to Rs 18 or so in a matter of days. Was at around Rs 15 for fairly long.

Kay: Volumes impressive, say marketmen. Listed only on BSE, though.

Jog: ONGC slipped last week and ruled weak. The company will resume full production soon. Yaad hai, they had the big fire?

Dax: The news will help to prop up the stock. Eveready and IVRCL....

Sri : GDR issue plans may help their rally in the bourses.

Kay: Swaraj Mazda to see rise, as it plans additions to product portfolio.

Jog: "Count no day lost in which you waited your turn, took only your share and sought advantage over no one," advises Robert Brault.

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

Send in your views to: Chat@TheHindu.co.in.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reveal everything when possible

It is easy to give advice from a port of safety

VSNL, MTNL decline sharply

`Stick to what you understand'

As undertone turns bearish — Caution is the buzzword