Jogin spent the weekend recalculating the economy's growth rate. Dakshinamoorthy slept well, dreaming that Sakhalin oil will solve our fuel problems. Sridevi was spending her bull-run gains on Navaratri purchases. But Khan got them all to assemble for the market chat. Hop in!
Kay: Mood among the market players is very bad.
Sri : Ask anybody, they say, just move out of small cap and penny stocks.
Jog: So, stocks that were market's darling are villain within a week!
Dax: I think small caps and micro cap will continue to be slaughtered.
Kay: Keep away from them even if they have fallen by 50 per cent.
Jog: Practise patience. Sit on cash. Don't jump to buy shares on every fall.
Sri : For Sensex and Nifty, the trend will remain bullish.
Dax: After some fall in the early part of the week, I guess.
Jog: Keep watching how the stocks are mauled for one more week.
Kay: Chart patterns point to weakness. Quite a few index stocks are in the overbought zone and a correction may be upon us.
Sri : Last Thursday, interestingly, the Sensex lost around 100 points intra-day only to recover later at the closing (on the same day).
Jog: Short-sellers were squeezed. They took 'sell order' positions
Dax: And never got profitable exit. This points to very bullish condition.
Kay: Take this sweet pill: Buy-and-hold attitude will pay tremendously.
Sri : I was crunching last week's numbers. Sanjivani earned almost 8 per cent last Monday, while Centurion gained about 7. Hind Motors and Indraprastha were up 5 and 4 per cent last week. Gains were in the 3 plus range for Sesa Goa, Spl Inds, HDFC, Infosys, IFCI, Bharti Tele, and Sujana Metal. State Bank and Tata Tea were up 2 per cent on September 26, while Mukta Arts, Indian Hotel and Elec Casting gained about 1 per cent. Gasp... gasp!
Kay: This hafta, shift to large cap. Best among them at the moment are HLL, Wipro and Colgate. A few technology stocks also look good.
Dax: Mahindra and Mahindra could rule firm, as the acquisition of a couple of auto engineering firms is imminent.
Jog: DCM Shriram Consolidated could sport a firm undertone, as the company has announced both a bonus and a stock split.
Sri : Cholamandalam Investment could see some weakness on the news of the company having dropped its plans for a preferential issue.
Dax: Hero Honda could be firm. It posted a smart 22% jump in Sep sales.
Kay: Some more SEBI orders are expected this week.
Sri : That could further upset the mood in the market. :-|
Jog: If anybody has shares of Anant Raj Industries and Karuna Cables
Dax: Just sell them on Monday morning. Call it gut feeling!
Sri : See ITC. After the split, the deluge isn't happening!
Kay: But, as marketmen feel, lots waiting to happen! The stock, with its face value curtailed, is now available at roughly Rs 140.
Jog: Dena Bank is another low-priced bank stock among many whose prices have spiralled in recent times. Volumes seem decent...
Kay: Positive on the business front; that should reflect on its price.
Dax: What about Aztec Software? After a bout of quick ups and downs, the stock seems to be settling down at Rs 130 or so.
Kay: Some developments on the corporate front, soon enough!
Jog: Sentiment on Infosys movement positive. Long is advised.
Sri : Eveready was very active on the bourses as it sold a property to KTPL and it should immensely help its cash flows. Viewed bullish.
Kay: Tata Tele Maharashtra should stand to benefit from its partnership with TCS in deal over 5 years.
Dax: Chemfab Alkalies, at Rs 178, a good pick? Quarterly results Oct 4.
Sri : Same day Hotel Leela Venture's board will debate on the setting up of a new hotel. Short term for the stock looks strong at Rs 258.
Jog: Somebody asked me about Eastern Silk and Sanwaria Agro!
Dax: No comments, please. After IFSL Order by SEBI, I'm very cautious.
Kay: Beauty is in the eye of the beholder. Value, in the mind of investors.
Dax: Such stocks are at 1/10 their price 2 years back. Blame the mgt!
Jog: A friend SMS-ed me if she could hold on to Kalindee Rail!
Kay: Sharply up and down. Good prospects. Highly risky. Hold!
Sri : Investors not much clued about the market should sell half of their holding if their returns give more than 50% in 1-2 months.
Jog: How confusing, as usual! At least recover the investment, in short!
Kay: Never regret if the stock rises after you sold and made your profits!
Lee, with inputs from Vir, Nat, Mad, Nil, The and Sve.
Send in your views to: Chat@TheHindu.co.in.