Business Daily from THE HINDU group of publications
Monday, Jul 09, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Jul 09, 2007 ePaper |
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Markets
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Stock Markets Columns - Chat
Khan was trying to detect rough edges and loose ends in the 15K chart vs Brazil’s 50K comparison. Dakshinamoorthy was reading about ‘new wonders’ and wondered if the hype made any sense. Sridevi kept worrying about the 216;ji’ roadblock before 3G… Till Jogin remembered to assemble them all for the weekly market chat. Stream in! * * * Jog: Hi! All eyes are riveted on… Kay: 15K? Or Infosys results due on July 11? Sri: Infy may lower its rupee guidance… Dax: While moving the dollar guidance upward? Jog: Room for upward movement of IT stocks. Dax: Since they have been under-performing in 2007… Kay: Due to strengthening rupee. Sri: Massive psychological victory for the bulls! Dax: Any talk of 17K target seems believable? Jog: Sad for those who exited halfway through the run. Kay: Due to rumours of crash being round the corner. Sri: A big happening last week! Hurrah for the market! Dax: Hope this is not the last one. Sri: FII inflows govern the trend. Kay: Consolidation expected at this level… Jog: As investors may not be willing to enter now. Dax: On the downside, support existed at 4,320 level. Jog: For Nifty. Only index trades at new peak… Kay: Individual stocks nowhere near their earlier highs. Sri: Try to view like this. If index stocks… Dax: Try and find their earlier highs… Jog: Then the index would peak further, wouldn’t it? Kay: Is there a surprise in store from the IT sector? Sri: Have they figured out how to handle the Re factor? Dax: Last week’s numbers, koi? Jog: IFCI gained almost 7% last Monday, while Unitech and Rel Pet up 3%. Tech Mah and ABB earned about 2% and Emami rose 1%, even as Infy ended positive on Jul 2. Kay: Autos looking ready to make a comeback! Jog: Due to a downward move in interest rates? Sri: Bajaj Auto and Mahindra and Mahindra… Dax: Look interesting on the charts. Kay: Pharmaceutical stocks Dr Reddy’s and Cipla… Dax: Have not seen any action over the last 3 months. Jog: Players might turn to them as defensive bets. Sri: Hindalco and Sterlite to benefit from… Kay: Strong base metal prices in international markets. Jog: Try Amara Raja stock on declines. Dax: Quite bullish and look for medium term. Kay: Patni’s rise unlikely to sustain? Sri: Selling on rise is better. Bartronics shares… Jog: On upswing. What’s happening? Dax: Charts tell me to buy it! Kay: HDFC showing three-crow formation… Sri: Showing weakness. Further fall likely. Dax: Also Tata Chemicals looking vulnerable… Jog: As bears have held it tight and strong. Kay: Coming to DLF… lingering questions… Dax: What is the right price to enter? Sri: News of real estate cooling off! Jog: No major effect on the sector stocks! Kay: IB Real Estate is said to have a target of 480. Dax: Ashapra Minechm... All set to take off. Target 450. Kay: The results season might see, as usual… Sri: Stocks churning? Even if a stock falls… Dax: You can be sure within a week it will bounce back! Jog: It is the mood, so enjoy as long as it lasts. Bye. * * * Lee with inputs from Mad, Lok, Vim and Bij. Blog at http://MarketChat.blogspot.com
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