Financial Daily from THE HINDU group of publications
Monday, Aug 08, 2005
Financial Daily from THE HINDU group of publications Monday, Aug 08, 2005 |
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Stock Markets Markets - Stock Markets Columns - Chat If you've short positions, stick to stop losses
Khan was studying shots of Discovery, skimming through 2,800 news reports that Google listed about the shuttle’s re-entry. Jogin sat glued to the TV, tracking the cricket series in Sri Lanka. Sridevi gathered GK books, wishing for a chance to compete in KBC2. But Dakshinamoorthy alerted them all punctually when it was chat time. Attention! Dax: Hi, all! Stock prices fails to fall. It’s the magic of foreign money. Kay: Nobody knows when inflows will stop. The day they stop, big fall... Sri : Expecting life to treat you well because you are a good person is like expecting an angry bull not to charge because you are a vegetarian! Jog: Shari R. Barr’s! Predicting stock prices and indices seems to fall flat. Sri : Which is why, just hold on to your stocks and see the gains. Jog: Chart patterns suggest a continuation of up trend, though correction appears overdue. Dax: For this week, I’d say there’s no target for the index or for stock. Kay: If you have short positions, stick to stop losses. Jog: If you see fall in stock prices, just sell whatever you have! Dax: To buy at lower levels? Are bulls losing vigour? Fri closed negative! Kay: Markets are still bullish, I’d say. Nifty may move up further. 2400+? Jog: Expect upside in Reliance; restructuring terms appear favourable. Dax: Reliance likely to firm up, as the board approved the demerger. Sri : The counter can see dwindling supply of shares in the coming days. Kay: Yeah, because the shareholders may mostly hold the scrip back. Jog: Simple logic. They get some Reliance Capital and REL shares free! Dax: Nobody will fritter away that, right? :-) Kay: True. When Reliance goes up, markets must also go up. Sri : “There is only one side of the market and it is not the bull side or the bear side, but the right side,” is a Jesse Livermore quote! Jog: Good, anybody crunched last week’s numbers? Sri : Shiv Bimetal gained 6.25 per cent on Aug 1, and HLL made 4.25. Kay: Arvind Mills, IL&FS and Aarvee Denim earned about 3.5 per cent. Dax: Centurion rose a per cent less, and KG Denim managed to stay +. Jog: Venky’s India moved from Rs 145 to Rs 200 within 2 weeks! Kay: Don’t live in the past. Come to this week! Now. Sri : Street talk suggests action in Videocon Intl. Jog: Also in Malabar Building Products and Clutch Auto. Kay: Century Textiles may remain firm after the Birla group settlement. Dax: Robust industrial numbers likely to support the market. Sri : Infotrek Syscom is a stock that is worth looking at. Kay: It’s just started refurbishing computers. Looks like an odd business! Dax: But prospects look good. Import old PCs from the US, the UK and Germany; refurbish in India and export to Bangladesh, Sri Lanka and Egypt. Plus more countries from the developing world! Jog: Stock worth looking at. What about Astra Microwave Devices? Sri : It has come out with a bonus and stock split. Kay: Ran up very fast in the last few months. Dax: After the split and bonus, further rise is possible, in my opinion! Sri : I’m watching CCL Products. Already climbed up, jaldi jaldi! Jog: Yet some more upward movement possible as some buying from institutional investors is still left… and it’s likely to happen this week. Kay: Electrosteel Castings, any vichaar? Dax: The counter got forced down to sub-400 levels; a cool Rs 100 lost in no time! Serious accumulation happening at the lower end... Jog: Zee Tele, now at Rs 170-180; catching market’s imagination, again! Sri : It did go up to Rs 200 or so in recent days, which, some think, is the beginning of a smart up-move. Revenue projections from Zee’s new-look channels are said to be playing a positive role here. Kay: Look at JP Hydro. This is among the lowest-priced power sector stocks at the moment; currently quoting at about Rs 29-30, lower than its issue price. Dax: But volumes are good and market men say that the stock is waiting to move ahead, provided the right triggers are in place. Jog: Matrix Labs and Selan Exploration are good bets. JMO! Kay: That way, Rajasthan Spinning and Suryalata are in fine texture! Sri : Hey, we crossed 65 episodes! I forgot to tell you! Kay: Chat 65! And let me send you a virtual band for Friendship Day! Dax: But don’t forget this caution from W. C. Fields: “There comes a time in the affairs of man when he must take the bull by the tail and face the situation.” Take care... of your gains! ** Lee, with inputs from Vir, Nat, Mad, Nil, The and Sve. Send in your views to: Chat@TheHindu.co.in.
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