The Hindu Business Line : Be careful if you don't know where you're going

Jogin was adding to his knowledge of capital account convertibility, Dakshinamoorthy was making place in his shelf for `comprehensive new company law', and Sridevi was sadly browsing through a photo collection of Surya Kiran's aerobic feats. To interrupt them all, Khan pinged about the weekly chat. Fall in line!

Kay: Hi, all. Nifty is poised close to resistance levels.

Sri: If it doesn't breach, there may be a short corrective phase.

Jog: Markets slipped towards close on Friday. Anticipate a mild correction.

Dax: Nifty may find immediate support at 3,211.

Jog: If it falls further sharply, may touch 3,171 levels.

Friday's close was 3,234.

Kay: Nothing can be said precisely. Be very cautious on selling.

Sri: True. Recovery can be too fast to catch up with.

Dax: What about last week's numbers?

Jog: Not much! Rel Cap and Balaji Tele managed to earn more than a per cent gain on March 13. State Bank and Morgan Stan ended that day on a positive note.

Kay: This week, cement stocks likely to rule firm.

Sri: Cadila may show a definite trend on acquisition news.

Jog: Simbhaoli Sugar may rule gritty on equity placement.

Sri: Watching IFCI. If we say `the stock is at Rs 10 once again,' that would be trite!

Kay: The Budget did nothing for IFCI, contrary to popular expectation.

Sri: Switch channel to NDTV!

Kay: A leading media counter, barely above Rs 200 now.

Dax: Has been lacklustre in recent days. Increasing competition in the sector, so the company has to work hard at maintaining its position!

Jog: Agro Dutch's 1:1 rights issue is over, and the stock is waiting for a breakout!

Kay: No immediate triggers, but patience will be rewarded one day.

Dax: Tata Steel and Satyam fell sharply on Friday.

Further reaction?

Jog: Look for the buying opportunity in them on the downside.

Sri: Heard HLL, J&K Bank and BEL are worth buying?

Kay: But all are highly priced. Any small scrip?

Dax: How about Prism Cement for the long term.

A reviving one!

Sri: My fashion designer recommends ONGC and TV 18.

Jog: Amtek India and MphasiS BFL are having a good run.

Expected to continue.

Kay: Bartronics, Aftek Info, Helios Matheson were on the downslide last week.

Dax: Any chances of recovery? I'm paying attention to Batliboi.

Sri: Lanxess ABS, the new blue-eyed boy in the polymer industry, seems to have some steam left in it.

Jog: Low valuation levels appear to be driving DCW, which has been on a downtrend since mid-September.

Dax: "You have to be careful not to let your fear stop you doing things," said Francesca Annis.

Kay: But Yogi Berra cautions: "You got to be careful if you don't know where you're going, because you might not get there." Best!

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

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