The Hindu Business Line : Oil and fire, too strong for reason's force

Khan updated his worksheet with the latest Q1 results. Dakshinamoorthy studied more about the link between interest rate and inflation. Jogin clutched his head that swam between visuals about the fresh quake in Indonesia and the newest offensive in Lebanon. But Sridevi remembered to assemble them all for the weekly market chat. Hop in!

Sri: Hi! Chart patterns suggest further weakness.

Kay: A drop to the earlier low of 2,600 still a possibility.

Dax: Stocks hitting new lows. Increasing by the day.

Jog: Street ignoring even the cos that showed good results!

Sri: Key event is RBI's monetary policy on Tuesday...

Jog: That should give us an idea of the direction of rates.

Kay: Widely expected a quarter percentage point hike.

Dax: Already discounted by a section of market, right?

Jog: Yet, such a decision can add pressure as the market is...

Kay: Already witnessing a tight liquidity condition.

Last week numbers?

Sri: Visaka Ind earned about 6% on July 17. Aftek Info was

up around 2% and Polaris stayed +ve on Monday.

Dax: Watching Reliance Energy and Kesoram Industries.

Jog: Promising on the charts. Reverse is the case with

Infosys and Reliance.

Sri: MRPL may see some buzz. Korean and Japanese

investors are eyeing...

Kay: A stake in the company's petrochemical project?

Dax: Vijaya Bank, Bhushan Steel, Andhra Sugars & LMW...

Jog: May be firm on the back of a good set of numbers.

Kay: ICICI Bank and Federal Bank may rule weak.

Sri: Because their numbers belied street expectations?

Dax: BHEL board meets on July 28 for bonus & stock split.

Jog: Prices of sugar stocks have taken a beating.

Kay: Oudh Sugar, at Rs 296 April end, quoting at Rs 94.15

Sri: Bajaj Hindustan is as volatile as the metal stocks.

Kay: Among bank stocks watch Kotak Bank (target 280)...

Sri: Also BoI (100). Both stood firm amidst the -ve mood.

Dax: Get charged up with battery stocks! Upbeat on Exide

(target 300).

Jog: And Amararaja Batteries (target 275).

Dax: It appears the West Asia tussle may spread further!

Jog: Initial expectation that it might be over by weekend...

Kay: Pressure on oil prices, watch out!

Dax: "Oil and fire, too strong for reason's force." All's Well that Ends Well!

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Lee with inputs from Nat, Bad, The and Bij.

Blog at http://MarketChat.blogspot.com