The Hindu Business Line : The next trigger is 'results' in December quarter

Dakshinamoorthy kept calling his relatives in Chennai to find if they were sailing in the same boat that Mumbaikars had used. Khan spent 'oil for food,' by driving to a distant eatery. Sridevi rued the benefits she'd missed in the form of CBSE concessions. But Jogin assembled them all for the weekly market chat. Leap in!

Jog: Overall mood in the market is still bearish.

Kay: Though the Sensex was up almost 400 points last week.

Sri : Chart patterns indicate a possible up side.

Dax: That may only be in the nature of a relief rally.

Kay: I still feel that fresh positions should be avoided.

Sri : Until Sensex breaks 8250 levels?

Dax: Results for most of the companies have been mixed.

Jog: So the stock movement will be very selective.

Kay: Yet, sharp fall from these levels looks unlikely.

Sri : There could be firm opening today. Dampener can be rupee's fall!

Jog: Nifty should clear 2,450 without any great hassle.

Dax: For strong confirmation of recovery? Its previous close was 2419.

Sri : Index movements appear quite positive…at least for now.

Kay: One can witness some fresh buying after that level, I suppose.

Jog: But FII outflows are a big worry. So, caution is the watchword.

Dax: Domestic institutional purchase data is providing some relief.

Sri : Inflation figures show a slight fall. Does this help the rally to continue?

Jog: Industrial growth is expected to be around 15 per cent!

Dax: With manufacturing sector rising! Will help the market the next 6 months.

Kay: I seem to be the only non-economist around! Hey, what about last week?

Sri : Of what we spoke of, A.K.Capital made about 8 per cent gain.

Dax: In the large-cap space, Bajaj Auto, Bharti Tele and HDFC may rule firm.

Jog: A friend of mine has shares in Bharti and asks if she can bank on the telecom sector because of the recent FDI announcement and broadband.

Kay: Look at Avantel Softec, Surana Telecom and Kavveri Telecom.

Sri : In mobile business: Instruments, networking instruments and antennas. Small-cap stocks, so the risk and returns are very high.

Dax: Tata Tele looks good for long term, say five years, if you're patient!

Kay: Declining crude prices may lead to a flat trend in ONGC.

Sri : MRPL may benefit from the hint that the merger with ONGC is unlikely.

Jog: The next trigger from now onwards will be results in December quarter. :-|

Sri : "Men are April when they woo, December when they wed!" says the Bard.

Dax: Stocks that look good are from FMCG sector, like HLL and Britannia.

Sri : Many IPOs hitting the market this month. Better stay away from market.

Kay: Around Rs 3,000-4,000 crore will be raised by the end of December.

Dax: Recent listings haven't given good returns. Means poor response to IPOs?

Sri : Listing of Shree Renuka Sugar below issue price. Southern Online Biotech falling to issue price of Rs 10! Hmm…wait for some more time.

Kay: It is better to forgo some profits rather than take losses.

Jog: Satyam looks very strong at the moment. Pick it up on correction.

Dax: May be, around Rs 615-620 levels?

Sri : Bank of Baroda too turning somewhat +ve. But should clear past Rs 220!

Jog: For some upside. Green signal is seen in the counter. Or is it blue?

Kay: As in the broker's monitor? Try Kalyani Steel and Suzlon Energy counters.

Dax: Should move up?

Sri : Cotton prices in the country are likely to rule steady. Global cotton production is set to fall by 5 per cent, but consumption will rise 3 per cent.

Kay: A window of opportunity for cotton exports?

Jog: Indian companies will get cotton at a price lower than firms elsewhere.

Dax: Firm cotton prices mean there would rise in prices of finished product. That will help Indian companies gain. Already, textile exports are on the rise.

Sri : As a result, textile machinery makers will benefit. They are unable to meet the demand for spindles. LMW and Textool have orders for 2 years.

Kay: Worthwhile investing in textile and textile-related companies!

Dax: I'm reading 'Reminiscences of a stock operator' by Edwin Lefevre!

Sri : Great book on the role of media in stock market.

Jog: SBI, the big boy of the banking sector is set to go places with acquisitions overseas. A deal or two have already taken place in foreign markets!

Dax: More in the works! Trading at around Rs 830 or so, having lost a neat Rs 100-plus from its 52-week high.

Kay: Look at Crisil, the country's only listed credit rating agency. It was trading at a mere Rs 450 a year ago, but now at Rs 1,300-plus. S&P effect?

Jog: Forays into areas other than ratings triggered some value buying!

Sri : At around Rs 240, UTI Bank's scrip seems to have been sufficiently hammered down. Some think it may go down a bit further from here.

Dax: Should we wait for the stock to reach its next bottom or …

Jog: "Or dive into the bottom of the deep," as in King Henry IV!

Lee, with inputs from Vir, Nat, Mad, Sub, 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
Sector funds with broader themes provide substantial diversification

The next trigger is 'results' in December quarter

Investment products have created new dimension to wealth creation

Satyam, Rediff hit year highs

Benchmarks may remain firm