The Hindu Business Line : Hope is itself a species of happiness

For some reason Jogin sat listening to old Hindi songs in praise of mother, and Sridevi killed her time watching assorted episodes of family soaps. Dakshinamoorthy was trying a new breathing technique to raise his awareness of stock movements when Khan pressed the 'chat' button to get everybody together. Catch up!

Kay: With Ambani settlement over, look for fireworks today!

Sri : There is a good possibility of Sensex crossing a new high. :-)

Jog: But smart investors should be cautious and use the rise to exit!

Dax: Even those holding Rel Ind should look at exiting later in the week.

Jog: Avoid fresh positions in Reliance group stocks at the moment.

Kay: Upside in Rel Ind and Reliance Industrial Infrastructure likely.

Sri : Be cautious on Reliance Energy and Reliance Capital.

Dax: IPCL may have an upward bias but gains are likely to be modest.

Kay: Because of merger-related concerns? Last week, the Reliance stock provided good support to markets. It spurted to Rs 600 during the last minute of trades last Friday.

Jog: Let's see if it can sustain at this level, as after the demerger of group companies net worth of Reliance will surely come down.

Sri : Mid-cap and small cap stocks will continue to see selling pressure.

Dax: So, those sitting on profits in this group should use the rise to exit and sit on cash for some time.

Jog: Linc Pens & Plastics may see upward movement.

Kay: Possible because Reliance MF has picked up stake in the co.

Sri : Shree Rama Multitech is another stock to observe.

Dax: Warrants issued by the company have been converted into equity.

Jog: And one can see some upward movement. The company would also announce good result, as its financial restructuring is also understood to have been over.

Sri : Good turnaround story for investors with some patience, it seems!

Kay: Spanco Tele, a telecom systems integrator, recently entered BPO domain. Trades at Rs 80 plus and market is optimistic.

Sri : Advancing from Rs 20-30 level and crossed Rs 90 in recent times.

Jog: Watch Thirumalai Chemicals closely.

Sri : Yes, it could benefit from price increases announced.

Dax: Sister concern Ultramarine Pigments could also remain in bullish territory.

Jog: Gains unlikely in Praj on the back of bonus and stock split.

Kay: But ITC may rule firm with its plans to make its share affordable.

Sri : Chart patterns suggest near-term up-trend with bullish pointers…

Jog: In Reliance and Satyam Computers.

Kay: Shrachi Securities is a truck financing co, trading around Rs 35.

Sri : It is changing tack and taking infrastructure tag! May boost its case, a la Srei Infrastructure. Public issue from Shrachi is in the offing too.

Jog: I was crunching numbers. Prakash Ind gained 18 per cent last Monday, and Hathway came at 16. Assam Co was up almost 10!

Kay: Royal Manor and Triveni Glass made almost half of that. L&T touched about 4 per cent profits last week, while Kothari and M&M made roughly 3 per cent. P&G gained 1.2 per cent, while Gillette and Jindal Poly came close to a per cent gain.

Sri : Among what we had talked last week, ITC, Super Spin and Spicejet also ended up on a positive note on Monday.

Dax: Guj Amb to trade on ex-bonus and ex-stock-split from this week.

Kay: It may be buoyant ahead of the shift. See where it would settle!

Jog: Could be in the Rs 60 - Rs 70 range, I guess.

Sri : In momentum stocks, watch IOL Broadband and Aksh Optifibre.

Kay: NDTV could post steady gains, as FIIs are likely to take to the stock.

Dax: With policy change, if the promoters abort their plans to gift shares to their daughter, there could be more room for FII buying.

Sri : Pantaloon unlikely to be affected by legal proceedings initiated by Bombay Dyeing; stocks tailing Pantaloon such as Trent likely to remain firm.

Jog: Noticed that the market breadth was negative, showing weakness?

Kay: Also, monsoon has not yet advanced. Not good news.

Dax: I see Nifty move down to 2060 levels by this month. Will investors wait to sell their T and Z stock holdings that have gone up tremendously quite recently?

Jog: Yet, it is still okay to invest in fundamentally good stocks like TNPL.

Dax: Hope is itself a species of happiness, said Samuel Johnson. And...

Kay: "Expectations improperly indulged must end in disappointment!"

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

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