Pushing a gutka packet stealthily under his keyboard to give it a kick, Jogin began to pound in lines of market chat, calling in Sridevi, Khan and Dakshinamoorthy to join. Chew on!

Jog: All bulls missing after the heavy snowfall, I mean,

stocks falling fast!

Kay: Bulls busy in jallikattu. But mood is pessimistic.

Sri: Stocks may open firm today, but on every rise there

will be sellers!

Dax: FIIs were net sellers though outflows are modest.

Weakness may continue.

Jog: Chart-watchers are worried that Nifty breached key

support levels.

Sri: Sizeable declines on 4/5 days

last week. F&O indicators also

weak. :-(

Kay: Nifty should get support at

1885 levels. After Press Note 18

got out, I see more FDI coming in.

Jog: You know the bank buzz?

Overall trend remains weak but sarkar may announce new policy!

Dax: Caution! Heavy selling

likely in banks planning second

public offers, such as Dena, PNB and OBC. Better stay away for some time. Or, sell them in the market and subscribe to them in IPO.

Sri: Nice strategy. Report on banking reforms may focus

on private sector, old & new. Liberal FDI norms could

pitchfork Bank of Punjab, ING Vysya and Centurion Bank

to the forefront.

Kay: Await RIL's first earnings report after big fight. Will

Infocomm-related charges impact?

Sri: If you think broad and wide, MTNL and BSNL's

broadband can benefit Sterlite Optical. :-)

Jog: It came out with good results last week. Those with

three months perspective can take positions.

Dax: PM spoke of PSU strengthening. Does it mean

consolidation in the oil sector? JMO

Kay: Did you notice cement stocks firm, bucking market

trend? Focus on ACC, Guj Amb and Dalmia.

Sri: I expect heavy volumes to continue in would-be

acquisition targets, Prism, Mysore & Guj Sidhee.

Dax: What's common among ONGC, Rel Infocomm, Jet

Airways, Tata Tele, and Hutchison Max?

Kay: Coming up with public issues! FIs may sell some

holdings in secondary market to invest in new.

Jog: My nephew working in Spectramind says he

sees Wipro Tech in dreams, and claims he is SAN.

Sri: That's storage area networking, such as from

Intransa. A call to merge, but not yet loud and clear!

Dax: When I searched for medicine, I noticed that Aurobindo Pharma is showing poor numbers.

Kay: For the second quarter in a row; bad! Pharma stocks

look weak. Virus is contract manufacturing?

Jog: So, stocks like Matrix, Divi's, and others should be

avoided at the moment? Advice me, pleez!

Sri: Publilius Syrus said, "Many receive advice, few profit

by it." You're in that `few'. ;-)

Kay: Sri, beware of Jog! When he asks for advice, he's

usually looking for an accomplice!

Dax: Remember this John Wooden quote: "Things turn

out best for the people who make the best of the way

things turn out." Optimism is my other name, you see!

Jog: Positive thinking, though I'd advice everybody to

reflect on some negative things too!

* * * * *

Lee, with inputs from Vir, Nat, Ray, Mad and Sve.

Send in your views to: Chat@TheHindu.co.in.

(This article was published in the Business Line print edition dated January 17, 2005)
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