The Hindu Business Line : From now on - we’ll be goin’ somewhere slowly

Once more, Jogin was cleaning up his computer of all known viruses. Sridevi was standing in queue at a ration shop to update her card. Dakshinamoorthy was studying the latest report of Transparency International on global corruption. It was Khan who remembered to assemble everybody for the weekly market by calling each one to say, “Chatengey!”

Kay: Hi, all! “I’m sitting at the wheel I got a green light.”

Jog: Open Road lyric of Bryan Adams! But chart patterns suggest…

Sri : There could be near term weakness. :-|

Dax: That may not, however, hinder progress to 10,000 plus levels.

Jog: “From now on - we’ll be goin’ somewhere slowly…”

Sri : “Instead of going nowhere fast,” as in Nowhere Fast!

Kay: It was interesting to see Nifty cross 3,000 mark last week.

Dax: Though Sensex disappointed us by not clearing the 10K level.

Sri : My forecast: it’ll cross the magic number by Feb or March end.

Jog: “This side of paradise there ain’t no crystal ball…”

Kay: “No fairy tales... no streets of gold.” This side of paradise!

Sri : Short-term looks downside. Hope Nifty gets support at 2,915.

Jog: Last week’s numbers, koi?

Dax: Here, I have them. Vinyl Chem gained about 5 per cent last Monday. Mittal Sec made a profit of 4 per cent while Eltrol was up about 3 per cent on Jan 30. P&G, Usha Mart and Nat Alum earned a profit of about 1 per cent last Monday. Suzlon Fibre and Siemens ended that day positive.

Kay: Talk this week. Though “talkers are no good doers: be assured.”

Sri : As the Bard writes in King Richard III. Yes, sir!

Jog: Reminds me of Essar Oil. It may decline, I guess.

Dax: Due to fire at its manufacturing facility. Hotel Leelaventure?

Kay: Expect firm upside. Tied up management contract!

Jog: In Delhi. And partner is Reliance in Mumbai.

Sri : There may be downside in Wipro. Share in the GM order?

Dax: Appears far less than what was initially indicated!

Jog: Cipla may rule firm, ahead of imminent bonus announcement.

Kay: Stocks such as KEC and Kalpataru Power and L&T. Any view?

Sri : Could continue to show strength. “Arguments of mighty strength.”

Dax: From King Henry VI. I see but weakness in Jet!

Jog: Following huge fund mobilisation. “Weakness and debility.”

Sri : As in As You Like It. Tinplate Co, any vichaar?

Kay: This Tata co is sliding. Badly.

Jog: Fell from Rs 95-plus in recent days…to sub Rs 85 now.

Dax: Been watching Gujarat NRE Coke. A case of under-delivery.

Sri : Because the stock is declining (now in double-digits)!

Jog: Despite recent decisions on acquisitions.

Kay: Coke prices will be a big determinant in the days ahead.

Sri : DIC India is a multinational in a niche business.

Jog: Low volumes and not much action in the counter at the moment.

Dax: Potential is big, marketmen point out.

Jog: “Pregnant and potential spurs.” As in King Lear.

Kay: Sugar stocks turning sweeter each passing day.

Sri : So too are metal stocks! “How now, my metal of India!”

Dax: A rare exclamation, from Twelfth Night!

Jog: Watch Hindustan Zinc and Nalco, as metal prices rise.

Kay: HCL Tech has fallen after its results failed to excite the market.

Jog: It spoke about a deal for Rs 1,500 crore from a European firm.

Dax: This should reflect in the next quarter.

Sri : M&M is seen improving in the farm equipment segment.

Kay: Good buy for long term. “But keep a farm and carters.”

Dax: Lord Polonius advises in Hamlet. What happened to Sterlite?

Jog: Was in the news for bonus and stock split.

Kay: The stock moved from Rs 1,100 levels to Rs 1,460.

Sri : Further rise seems likely. Alufluoride, anybody?

Dax: Improved its earnings in Dec quarter. Stock seems good.

Jog: At current levels of Rs 12.80.

Kay: Bear in mind this quote of Publilius Syrus: “It is a good thing to learn caution from the misfortunes of others.”

Sri : Or this from Russell Baker: “Caution: These verses may be hazardous to your solemnity.” Bye!

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

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