Financial Daily from THE HINDU group of publications
Monday, Jan 10, 2005
Markets - Stock Markets
You can get run over if you just sit on the right track
Beaten badly when the indices moved downhill during the week, Jogin fumbled at his PC for the market chat with Khan, Sridevi and Dakshinamoorthy. Get wise!
Jog: Who jammed the brakes when we were cruising
Kay: Okay, mood is a bit pessimistic, but too early to
comment on the market!
Dax: It'll open firm today. But many players will come to
sell on every rise.
Sri: Charts show weakness. FM okayed correction as
Kay: True, recovery was partial. I expect more downside,
say half of first fall.
Jog: FIIs inflows are on, and they're net buyers. I see
Sensex at 7,500!
Dax: You're a dreamer. Stay invested. Earnings season is
upon us. Await Infosys and TCS.
Kay: Numbers likely to be
strong, despite appreciating
rupee. Good billing rates in Q3
can rev up IT.
Sri: MTNL has an overhang of
weakness, since access deficit
charges are down from Feb 1.
Jog: I too feel weak like sick
public sector units that, even
after 100 per cent VRS, have no
Kay: But Jadavpur Varsity wants to buy National
Instruments. Net worth minus, but good labs!
Dax: Great. I'm watching mid-cap hotels. Good business
despite tsunami. Anybody, Tata Fin?
Sri: It'll open firm today, with merger effect. If you get it
in early trades, hold for a few days only.
Kay: Steel stocks should do well for medium term.
Expectation of good results. Pick Tata Steel.
Dax: Also, Essar and Jindal. I guess HDFC Bank and
Gujarat NRE Coke have robust results!
Jog: I wish I were also robust, with the help of some
pharma, such as Orchid and Cipla. Nicholas Piramal...
Sri: It's in consolidation phase now after stock split. Then,
the scrip can leap! Try leaping, Jog. :-)
Kay: No, he'll fall! Do you know that IOC and ONGC aren't
seeing eye-to-eye on cross-holdings?
Dax: Oh, that may have a negative rub off on them! :-(
Jog: In search of power, I see NTPC, seeing its plans to
enter the power transmission business!
Sri: Royal Airways stocks should continue its
upward move, I guess, any opinion?
Kay: You're right, in the wake of Jet Airways planning
IPO. However, fundamentals are weak.
Dax: Yes, take view on RA for a short term. If you're
already in, better to exit at Rs 50 levels.
Jog: "If the creator had a purpose in equipping us with a
neck, he surely meant us to stick it out," said Arthur
Koestler. And that's what I'm doing now!
Sri: Remember also what Will Rogers said about risk:
"Even if you are on the right track, you will get run over if
you just sit there." And that applies to your neck too! LOL
* * * * *
Lee, with inputs from Vir, Nat, Ray, Mad and Sve.
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