Jogin kept fuming as he read the US documents about the 1971 war, Dakshinamoorthy sat watching the TV coverage of Gujarat floods, and Khan was engrossed in the Federer vs Roddick duel. But Sridevi SMS-ed them all to assemble for the weekly market chat. Hang on!

Sri : Overall mood in the market is bullish. "Happiness is the china shop."

Kay: "And love is the bull," said H.L. Mencken. But I'm a bit cautious...

Jog: On the sharp rise, me too! Some selling is expected this week.

Dax: Following the expiry of derivatives contract?

Sri : Chart patterns suggest a continuation of the upward march of Nifty.

Jog: SBI and Infy appear strong on the charts.

Dax: Yeah, SBI looks hot favourite. Banks held market up on Friday!

Kay: KVB planning mobile and I-net banking…

Jog: That should shore up its transactions and business. Funda is good.

Kay: F&O pointers indicate a possible downward bias…

Dax: Early in the week and gains in the later part, I'd say.

Sri : I feel some correction is awaited. "Dente lupus, cornu taurus petit."

Jog: The wolf attacks with his fang, the bull with his horn, said Horatius.

Dax: Investors fear to go long at these levels. Rally defies gravity.

Kay: Hmm… That's confusing and bothering everyone, is it?

Sri : Bullishness is one of long trend, Kay, in my view.

Jog: For the week, let's see if the market closes stronger today and tom!

Kay: There are some positive aspects now…

Sri : Such as easing crude oil prices and progressing monsoon rains.

Dax: In bull grip, I see Nifty at 2300…after some intermediate downtrend.

Kay: Petrol and diesel price hike was still not factored in. Beware!

Sri : Among large cap stocks, it is better to stick to Reliance pack.

Dax: Yeah, led by Reliance Capital. Also, Reliance Ind Infrastructure.

Sri : That's a good bet in the Mukesh group companies.

Jog: Price hikes in petrochem may lead to a firm undertone in Reliance.

Dax: Expect cooling off in entertainment sector stocks…

Sri : They had a rollicking week after acquisition of Adlabs by Rel Capital.

Kay: Adlabs, too, could trade with a downward bias!

Dax: Because open offer price is way below market price.

Jog: Wimco is another stock to watch out.

Kay: Good pick, in my opinion, as ITC takes over it.

Sri : A big player is very bullish on HLL.

Jog: I know, he's taken big position; expects the stock to go up by Rs 100!

Kay: HLL is a safe bet at this moment.

Sri : If it rises as anticipated by Mr Bull, where will Sensex and Nifty go?

Dax: 8000! Aat hazaar! :-)

Kay: Anybody worked on last week's numbers?

Sri : I did! Murd Ceram gained almost 20 per cent on June 27.

Jog: Rel Cap made about 7 per cent. Swaraj Mazda was up 6 per cent.

Dax: Bharat Forge, ONGC and ITC booked around 2 per cent profits last Monday. Punjab Trac made meek gains. Now, talk about this week!

Jog: Royal Manor Hotel would be in the Taj group of hotels soon.

Kay: Expect some fireworks, you want to say, Jog?

Jog: That's right! Liberty Shoes is being accumulated by Geojit Securities!

Dax: And promoters of the company are selling it.

Kay: Which means some big upside possible for this stock.

Sri : It's also coming into retailing business, please note. But…

Dax: Avoid taking large positions in these stocks at this moment, right?

Sri : Exactly! Wait for some corrections as most of them have rises.

Kay: Take my advice: Buy in small lots rather than in one big lot.

Sri : BHEL could witness volatile trends as it stays a 'political football'.

Dax: Pidilite may consolidate on recent gains.

Jog: Those were driven by news about acquisition of a stake in the UAE.

Kay: Street talk suggests action in K Sera Sera courtesy Sarkar!

Sri : Starring Big B and Junior B! "Continue to gain expertise, but..."

Kay: "...avoid thinking like an expert," advises Denis Waitley.

Dax: i-flex solutions, too, may continue its upward march.

Jog: Kale Consultants zipped up after it got Indian Airlines order!

Sri : The stock has been moving in Rs 89 - Rs 97 range for some time.

Kay: "Skilful pilots gain their reputation from storms and tempests!"

Jog: Epicurus's! "And gain is gain, however small," said Robert Browning.

Dax: "We gain the strength of the temptation we resist," notes Emerson!**

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

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(This article was published in the Business Line print edition dated July 4, 2005)
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