The Hindu Business Line : No one can enter at the exact bottom

Jogin began reading a book on micro-credit to catch up with Yunus. Dakshinmoorthy was scanning reports about Bt cotton impact on farmers' financials. Sridevi was planning to enhance her Diwali budget in view of the buoyant markets... Till Khan summoned them all with a message, "Mkt Tk." Get talking!

Kay: Hi, JDS. With the May high breached...

Sri: Sensex seems headed towards the 13,000 mark!

Dax: Moving then into consolidation mode?

Sri: Markets on bullish course, but on the downside...

Jog: Support exists at 3,580 levels! And on the upside...

Dax: Resistance at 3,695 level. Above it, around 3,730.

Kay: Excessive caution of the market participants!

Sri: Resulted in short positions at every key resistance.

Jog: Such as 11200, 12000, 12200 and now 12671.

Kay: These shorts are getting squeezed!

Dax: And are having to cover up with huge losses.

Sri: Don't go short before firm confirmation of a peak!

Jog: No one can enter at the exact bottom!

Kay: Or exit at the exact peak. 5 to 10% late is OK.

Jog: Those who absorbed the May correction...

Sri: Would be sporting an `I-told-you' smile.

Dax: Lend your ears for last week's numbers. Rain Calc

gained 7% on Oct 9. Petron Engg and Guj Sidh were up

5%. Zodiac Cloth, Gwalior Chem, Ivrcl and Shree Cem

earned more than 2% profit last Monday. Ratnamni

Met, Orchid Chem, Guj Amb Cem, Allahabad Bk and

Mangalam Cem posted a gain of more than 1% that day.

India Cem, Ankur Drugs, ONGC and Hind Const ended the day on a +ve note.

Kay: Infosys triggered off the pre-Diwali dhamaka!

Dax: Would other IT majors keep up the tempo?

Kay: MRF heading towards 6000.

Sri: Highly volatile Unitech going to...

Jog: 375. And NDTV is moving towards a target of 280.

Kay: Petronet LNG and Noida Toll Bridge...

Sri: Seeing good volumes. Price range too narrow.

Jog: Moser Baer could see some action!

Dax: Stake acquisition in a US-based company.

Sri: Paramount Comm may rule firm. Stock split?

Jog: MTNL and IOL Broadband could see action!

Kay: They've come together to provide IPTV services.

Dax: Crompton Greaves may move up on the back of...

Sri: Results and bonus announcement?

Kay: McDowell some action? UB group considering...

Jog: Tie with Scotland-based Whyte and Mackay?

Kay: Wildcard picks include Corporation Bank...

Dax: Mirc Electronics and Ankur Drugs.

Sri: Watching Wockhardt. Acquisition mood!

Jog: 100% acquisition of Pinewood Labs of Ireland.

Dax: Will unleash fresh revenues and also...

Kay: Help Wockhardt set its footprint in Europe!

Sri: Dabur Pharma, koi? Creeping up, after inactivity.

Dax: Sudden interest? Entered a trading zone?

Jog: Has moved past Rs 72-73 rapidly... to Rs 75.

Sri: NTPC, slow-moving PSU! Refused to buck up.

Kay: Stayed at Rs 130 or so for weeks.

Jog: Lately, some interest? Behemoth.

Dax: A wait-and-watch item, as most people feel.

Sri: Cement space quick changes? Provocation?

Kay: Deals by some major cement producers...

Sri: Recent floods firmly behind them?

Jog: Radico Khaitan and Exide attractive. Near term.

Dax: Also, Alembic could see more upside.

Kay: Mahindra Ugine on consolidation mode.

Jog: Infrastructure success story in IVRCL and...

Sri: Nagarjuna Construction? L&T, a big hit.

Jog: Watch Tata Steel, even as the Corus deal is hot!

Kay: Too high a price?

Dax: May the festival of light bring cheer! Bye!

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Lee with inputs from Nat, Mad, The, Nil, Lok, Bad and Bij.

Blog at http://MarketChat.blogspot.com