The Hindu Business Line : ‘A day at a time’

Jogin and Sridevi were arguing over the week’s fall in Sensex. 1800 points. Was it too much, too soon? Why now when we have desisted corrections for so long, asked Jogin. Sridevi suggested we are playing catch up with other markets. Khan entered the chat room. Dakshinamoorthy, who was busy studying the charts, finally found out the possible support level for Nifty…

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Kay: Last week was bad. Real bad!

Sri: But did you see Reliance Power? It was a breeze

Jog: I feel investors rated it too much. U will soon see

Dax: Was the GDP revision the reason for panic?

Kay: Wait a min. Tell me which one of u was comfortable with the valuations

Jog: They still are high. I am wtng for another 2,000 points to fall

Sri: So that you can buy RPL @ cheaper rates?

Jog: FIIs will sell again. There’s something wrong

Sri: May be the budget. Its FM’s last full budget

Dax: Any idea of stocks that we should buy?

Jog: I am looking bottomed out ones.

Sri: Nothing wrong fundamentally. We r overreacting

Dax: Huh! If I invest, I am going into defensive plays

Kay: FMCG, pharma, textiles. Move can be dangerous

Jog: Wo wo wo…lets not get too ahead of our times.

Dax: One day at a time can be a good strategy

Sri: Monday opening is crucial!

Kay: Anyone looking at Infy, Aurobindo, Hexaware

Jog: Heard two of those making daily 52 wk lows.

Sri: Buy at this level? May pay off, may backfire too.

Dax: Wat abt cement this week? Some nice cos

Kay: Abuja, ACC…were top gainers on Black Friday

Sri: Absolutely crazy. Any opinion on Bombay Dyeing?

Dax: Hey anyone for J Kumar Infra IPO?

Kay: Cords Cable looks long term bet!

Jog: Tell you wat. Wait for the OnMobile IPO

Kay: I have a better one. Wockhardt. Citi may take pre-IPO stake

Dax: Apollo still the best. Remember Fortis?

Sri: Also Citi may buy 2-3%. Wat pointers!

Jog: If markets stay turbulent, lets invest only in IPOs

Kay: Waiting for Jan 21

Dax: U n ur banking cos.

Sri: Wow. Kotak Bk , HDFC Bk, Canara, Centurion qtrly numbers on same day

Dax: Why nt invest in MFs now?

Sri: Diversified MFs might have taken some hit

Jog: Talking abt banks. Watch out for I-Securities IPO

Sri: When is Rel Pwr getting listed? By Feb 8th

Dax: “We have power in ourselves to do it, but it is…”

Kay: Coriolanus!

Jog: ABB nos. out? May benefit from equipment thing

Dax: Punj Lloyd may be in limelight.

Sri: For its stake in Pipavav Shipyard?

Kay: The latter is likely to file for IPO.

Dax: Punj may unlock further value.

Jog: Market volatility is set to increase.

Sri: IDBI, IFCI, ITC and Bombay Dyeing…

Kay: Have seen an increase in buying interest.

Dax: Some action brewing up in counters such as…

Sri: Bank of India and LIC Housing Finance.

Kay: Their F&O volumes have increased significantly.

Sri: Auto ancillary stocks are hot. Tyres…

Kay: Idea had gr8 nos. EBITDA up 51%

Dax: Yes. Fell also on Friday. May be a buy. Good Co.

Kay: Everonn Q3 not bad too. Still hesitant.

Jog: I am telling u na? Dnt invest dis week

Sri: May be we shd listen to him. But valuations look vry cheap nw

Kay: Lets see wat happens on Monday.

Dax: Great idea. Dnt buy and dnt hold. Wait (signs off)

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Kum with inputs from Sri and Lee

Blog at http://MarketChat.blogspot.com