The Hindu Business Line : Sunday, October 08, 2006

INSIGHT
`Affective' forecasting
Consider this. My friend recently found a stock trading at Rs 100. He placed a limit order at Rs 97.65. His order was not executed as the stock moved to Rs 115. He refused to buy the stock at that price even ... More

Innovations in online broking — Is the future flat?
Indian brokerages are coming of age and witnessing a transition towards flat fee products More

MUTUAL FUNDS
Mutual funds over the quarter — Back, but not with a bang
A mid-cap tilt in the portfolios and high levels of cash appeared to be the primary reasons for one set of funds under-performing the market. Moreover, the market rally itself was restricted to a limited universe of stocks. More

PORTFOLIO MOVES
DSPML Balanced Fund: Fresh entry into metals, media and paper
DSPML Balanced Fund appears to have found investment opportunities in the recent market correction. In June-August 2006, it took fresh exposure in a number of stocks and also increased its equity allocation marginally from 64 per cent to 69 per ... More

There are interesting investment opportunities across several sectors
It is very clear that the Indian economy and the stock market will be driven by three main themes over the next 5-10 years: Outsourcing, domestic consumption and infrastructure. — MR S. NAGANATH, CIO, DSP ML MUTUAL FUND More

Fund Talk
I have an SIP of Rs 2,000 each in Magnum TaxGain, PruICICI Tax Plan, Sundaram Select Midcap, Magnum Contra and Franklin Prima. I have a five-year horizon. But should I churn my portfolio every year? If so, based on what criteria? If I do so, ... More

DSPML launches Small and Midcap Fund
Birla Mutual Fund has announced dividends in two of its schemes — Birla Dividend Yield Plus, which has declared an 8 per cent dividend, and Birla FMP Annual Series I a 6.5 per cent dividend. October 10 is the record date. SBI ... More

Market View
With returns of about 31 per cent year-to-date, India has been one of the strongest gainers within the region, placing its market valuations at a significant premium to other emerging markets. The high allocations for India in ... More

TECHNICAL ANALYSIS
Trader's Corner
We remain pivoted around the pivot-point trading this week, too. Some traders believe that pivot-point trading is inappropriate for equity markets, as price manipulations are rampant here. The way to circumvent this problem would be to apply this ... More

STOCK MARKETS
Query Corner
I am holding 45 shares of BHEL. Please tell me the trend in this stock. Can I hold, sell or buy more? Bhattathiri BHEL (Rs 2,324.9): Pure trend following methods are displaying absolutely no weakness in the short or ... More

Tech Tools
Should we use the simple moving average or the exponential moving average in MACD? For the short-term as well as for the long-term should the daily MACD or weekly MACD be used? What action should be taken if daily MACD shows "sell" signal ... More

Reliance
The stock took a step lower in the first half of last week to touch an intra-week low of Rs 1144.2. The short-term trend has turned negative; the medium-term outlook, however, remains positive. We will need a fall below Rs 1,080 for the ... More

SBI
The stock was rock steady in spite of the turbulence witnessed in the first half of last week. This stock closed the week almost unchanged from previous week's close. The intra-week movement resembles a running correction, which is a very ... More

Tata Steel
The counter made two unsuccessful attempts, on Tuesday and Friday, to rise above Rs 540. Our medium-term outlook continues to be positive, this stock can be heading for Rs 601 and then Rs 674. But, the present consolidation phase will prolong ... More

Infosys
Last week, the scrip did not breach our short-term support of Rs 1,780. It turned up from an intra-week low of Rs 1,797 to lead the market's recovery. The outlook for this stock is positive, as fresh buy signals are being generated by short-term ... More

ACC
The stock consolidated sideways between Rs 970 and Rs 1,000 last week. This is the first red candle on the weekly chart since the medium-term uptrend began on July 24. The oscillators on the daily chart have begun to signal a sell. The weekly ... More

ONGC
This scrip is looking the weakest among all the pivotals. It has registered successive lower peaks and troughs since the high of Rs 1,250 made on August 17. The price is currently below both the 50- and 200-day EMAs. The 10-day ROC is in negative ... More

DERIVATIVES MARKETS
Nifty may be confined to narrow range
Tata Steel likely to turn weak More

RECOMMENDATION
Ashok Leyland: Buy
Investors can consider buying Ashok Leyland at the current market price of Rs 49. The stock has been rising in the last two weeks following talk of a multinational commercial vehicle manufacturer picking up equity in the company. However, on ... More

Murudeshwar Ceramics: Buy
While the expansion in ceramic tiles business is likely to reduce margins, cost efficiency measures adopted by the company offers protection. More

Pfizer: Hold
Though Pfizer's performance has shown a consistent improvement over the last few quarters, our current view is driven largely by the uncertainty over the impact of the sale of the consumer business at the global level. More

PSL: Buy
A robust order book and buoyancy in the oil and gas sector augur well for PSL. More

Petronet LNG: Buy
The company would graduate to the next level if Qatar picks up equity and agrees to supply additional LNG. More

Birla Advantage Fund: Hold
Thanks to the presence of large-cap stocks in the portfolio, the fund has bounced back firmly from the lows it touched in June. More

Reliance Equity: Hold
While hedging minimises risk, it caps the upside potential. The concept is suitable for investors looking for more stable returns. More

Tata Coffee: Buy
The Eight O' Clock (EOC) acquisition, instant coffee expansion plans and the turnaround of the recently acquired tea plantations lends confidence to the stock. More

Morarjee Textiles: Invest
With debt at more comfortable levels, Morarjee may be better placed to expand its capacities. More

IPOS
Deco Group to tap market
To raise about Rs 75 crore through IPO early next year to expand existing business and venture into new areas. More

OUTLOOK
Index Outlook
The Sensex lost its foothold and slipped in the early part of the week to an intra-week low of 12178.8. But it was back on its feet in no time and the weekly loss was a mere 0.6 per cent. It can be classified as a week in which the Sensex paused ... More

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Looking back
Oct. 1-Oct. 7
Computer education cos gaining on bourses

Korean asset management group Mirae eyes India

`$600 m net inflows in 3rd quarter'

Mutual fund AUMs fall in September

Markets decline on back of profit booking

Realty boom drives up ceramic, tile firms' stocks

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