The Hindu Business Line : Cooling when ‘tis almost an apple?

Khan was anxiously reading Ben’s recent statement about subprime woes. Jogin was restlessly thumbing through ‘The Age of Turbulence’. And Dakshinamoorthy was studiously digging up literature on stockmarket highs… Till Sridevi assembled them all for the weekly market chat, yapping: ‘YAP’. For ‘your attention please’!

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Sri: Hi. Markets are on a roll.

Jog: But volatility cannot be ruled out this week…

Kay: F&O expiry on Thursday can cause…

Dax: Some long unwinding?

Jog: Investors should be ready to face!

Sri: A 3 to 5 per cent correction at any time?

Kay: Bears seem more worried than the bulls!

Dax: At this point, since a rally past 16,500…

Jog: Was not expected this early.

Sri: Bulls would be comfortable rolling over.

Kay: The longs to October? Last week’s numbers?

Sri: FDC rose 3% last Monday. IFCI, GE Cap Trans, Aban Offsh and IDBI earned about 2% that day, even as Varun Ship, Unity Infra and Karnataka Bank ended on a +ve note.

Jog: The US Fed cut and inflation number…

Sri: Provided fillip to the market.

Dax: Great movement last week. Nifty nearing…

Jog: To hit 5,000. Any believers?

Sri: Sharp corrections in between possible.

Dax: ‘Nor double penance, to correct correction,’ sings the Bard.

Kay: On the down side support exists for Nifty at 4,755.

Dax: Camlin may gain ahead of…

Jog: Preferential allotment to FIIs?

Sri: Recently listed IPOs posting abnormal gains!

Kay: Not backed by fundamentals?

Dax: May soon see some cooling off.

Jog: “Cooling when ‘tis almost an apple…”

Kay: Twelfth Night, this morning!

Sri: IFCI, still lot of steam left in the stock.

Jog: Better off holding it for another 3-4 months.

Dax: MTNL can attract buying interest.

Kay: Because of the land bank it has?

Jog: The week saw the Reliance shares gain a lot.

Dax: Holding on to the stocks is advisable?

Jog: Deutsche Bank has pegged the target index.

Kay: Sensex at 18,000! Stay invested in large caps.

Sri: A better bet. For long-term investors?

Jog: Value buy in small-to-mid cap stocks!

Sri: Pharmas worried about rupee rise.

Dax: So, the sector was dull on the bourses?

Kay: Bharti Airtel trading quite strong.

Jog: IDEA must witness more upside.

Sri: Any news on NEPC Micon?

Kay: The stock jumped on Friday.

Dax: Union Bank extremely positive on the charts.

Jog: Adlabs Films too fine? Buy Hero Honda…

Sri: On dips. Cholamandalam DBS?

Kay: Seems to have been oversold, should bounce.

Dax: Real estate stocks showing signs of recovery.

Jog: Parsvanath, Puravankara and Ansal Properties…

Kay: Could see additional action.

Dax: Cummins India may witness buying interest.

Kay: Now that gas pricing issues seem to get resolved.

Jog: With telecom tower infrastructure spend take-off…

Sri: Need for back up power could spur demand? Hmm…

Kay: Alphageo. With a surge in onshore E&P activities…

Jog: Demand for seismic studies to go up?

Sri: Augurs well for Alphageo! Stock broking companies…

Kay: Are in a flux, thanks to their serious business!

Dax: All listed brokers seem to be doing well?

Sri: Brokers getting a lot of attention from PE.

Jog: Should investors start buying broking cos’ stocks?

Kay: Assuming they will continue to do well?

Jog: Has the equity cult firmly set in?

Sri: “A cult is a religion with no political power.”

Dax: Tom Wolfe’s quote! Take care… Bye.

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Lee with inputs from Mad, San, Lok, Sri, Nil and Vid.

Blog at http://MarketChat.blogspot.com

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