Business Daily from THE HINDU group of publications
Monday, Aug 06, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Aug 06, 2007 ePaper |
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Markets
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Stock Markets Columns - Chat
Jogin was reading about Murdoch, Mississippi, and mortgages. Sridevi was studying cases of offbeat diversification, such as a steel company getting into aviation, and a petrochemical player entering chip making. And Dakshinamoorthy was surfing the Net for ‘hedge funds’ and ‘jury’… Till Khan drew them all into the weekly market chat. Fall in line! * * * Kay: Hi! Wide swing in markets last week. Sri: Very scary to trade in index. Jog: Whether long or short… Dax: Investors are given beating! Sri: Look, Nifty trades with weakness. Kay: On the downside, Nifty has support at 4,355. Dax: If it breaks ‘below’… next at 4,294.
Kay: On the upside, immediate resistance… Dax: Seen at 4,435. Sri: If it clears that point? Jog: On closing basis… should drive it to 4,555. Kay: Short-term supports of 15,000 and 4,300. Dax: Should we wait and watch? Kay: Global volatility in equity… Sri: Does not seem ready to settle down just yet. Dax: Another weak closing by DJIA on Friday. Jog: To spook Asian markets on Monday morning! Sri: FOMC meeting scheduled for next Tuesday? Kay: Will add to the flux. Last week? Sri: L&T and DLF ended last Monday on a +ve note. Jog: Crude flirting with record highs of $78.4. Sri: Indian crude basket already at $73. Kay: OMCs can get a reprieve… Dax: If there is another petrol price hike? Sri: If FIIs continue to walk out with the money… Dax: Retail investors are bound to panic! Sri: In this market, long-term investors… Kay: Can easily find their pickings? Jog: Traders adapt to any condition. Dax: They are all-proof players! Sri: Going by the show last week… Kay: Power sector has clearly elbowed out… Jog: Telecom sector? As favourites? Kay: Purvankara reducing price band! Dax: Citing market conditions! Not good news… Sri: For realty stocks. Jog: If you have the money… Dax: Confidently go in for Tata Motors and M&M? Kay: Infosys and TCS under so much pressure? Dax: Disturbing. Jog: “With course disturb’d,” as in King John. Sri: Adani Enterprises trades very active. Kay: With sizable volumes. Aptech? Dax: Showing good strength at 325 level. Jog: But volumes not quite significant. Sri: Prajay Engineers quite notable in movement. Jog: Should rally up further? Kay: And also JK Lakshmi Cement? Dax: Wait for correction in ABG Shipyard and… Sri: Federal Bank as they are overbought. Kay: ‘Correction and instruction must both work.’ Jog: Duke Vincentio! Measure For Measure? Bye. * * * Lee with inputs from Lok, Mad, San and Bij. Blog at http://MarketChat.blogspot.com
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