'We should make a run for Sensex 5000'
Ramesh S Damani thinks the market is in good shape for the short term as the global climate for equities is conducive. He has a lot of stock recommendations this time.
Mr Ramesh Damani (Wed Sep 6 19100 3:51 IST)
Hello everybody thanks for joining in. Let's start
balasubramaniam (Wed Sep 6 19100 3:50 IST)
Where do you see the market going from here.
Mr Ramesh Damani (Wed Sep 6 19100 3:52 IST)
Bala - I think market is in good shape. We should make a run for Sensex 5000.
ashok (Wed Sep 6 19100 3:48 IST)
what do u think of himachal futuristic. will it be able to sustain its gain tomorrow. or will it lose its gains
Mr Ramesh Damani (Wed Sep 6 19100 3:53 IST)
ashok - I am not a great fan of HFCL. It's in N/D (No delivery period) where stocks tend to go up.
sanjaysharma (Wed Sep 6 19100 3:27 IST)
give advice in regard to purchase/sell of pentamedia graphics ltd.
Mr Ramesh Damani (Wed Sep 6 19100 3:53 IST)
sanjay - pentamedia is a hold currently. Keep an eye in their investment in NUMTV
balasubramaniam (Wed Sep 6 19100 3:53 IST)
How about the oil price and mounting fiscal deficit impacting the market in the short term.
Mr Ramesh Damani (Wed Sep 6 19100 3:54 IST)
bala - bigger concerns in the long term. In the short term, market is responding to the better climate for global equities.
ashokbhatia (Wed Sep 6 19100 3:54 IST)
but sir himachal has been in nd from probably a week then why has it risen only from yesterday?
Mr Ramesh Damani (Wed Sep 6 19100 3:55 IST)
ashok - that's the nature of the beast. Money making remains an art not a science in the market. By the way what do you all think of the movement in Reliance.
ashokbhatia (Wed Sep 6 19100 3:57 IST)
i think reliance is probably going to gain bcoz of its strong fundamentals and also it's plans of entering into the IT industry are working out quite well.
Mr Ramesh Damani (Wed Sep 6 19100 3:58 IST)
ashok - yes partially. Though IT is coming in Rel Cap Maybe. Floating stock is absorbed.
chetan (Wed Sep 6 19100 3:57 IST)
i think Reliance is a multibagger from the current level.
Mr Ramesh Damani (Wed Sep 6 19100 3:59 IST)
chetan - after a long time I am recommending (gasp) Reliance. Technically the counter looks perfect.
abhay (Wed Sep 6 19100 3:56 IST)
why was there a scare today? is the market over-heated for this week?
Mr Ramesh Damani (Wed Sep 6 19100 3:57 IST)
abhay - no scare. market is moving well. I believe the path of least resistance is on the upside.
rahul (Wed Sep 6 19100 3:56 IST)
what do u think of global tele? why is there so much action?
Mr Ramesh Damani (Wed Sep 6 19100 3:57 IST)
rahul - hfcl and global are twin momentum stocks only for the brave of heart.
balasubramaniam (Wed Sep 6 19100 3:59 IST)
Reliance may not move more than 375 levels as happened in the past.
Mr Ramesh Damani (Wed Sep 6 19100 4:0 IST)
bala - 373 is a life time high. Remeber the bonus. Price is actually 750. Immediate target is 375- stock could go to 425 levels.
balasubramaniam (Wed Sep 6 19100 3:59 IST)
What do you think of Shyam Tele. In spite of high PE of 200 times why this is still going up
Mr Ramesh Damani (Wed Sep 6 19100 4:0 IST)
bala - shyam is worth keeping an eye on.
chetan (Wed Sep 6 19100 4:0 IST)
Give me one good pick for this month
Mr Ramesh Damani (Wed Sep 6 19100 4:1 IST)
chetan - Reliance, McDowell, GE Shipping are good ideas to begin with.
rahul (Wed Sep 6 19100 4:1 IST)
what makes reliance attractive?
Mr Ramesh Damani (Wed Sep 6 19100 4:1 IST)
rahul - technically the floating stock has been absorped. If the PE chanages the stock can move up sharply. Also Sterlite looks good for trading
balagopal nair (Wed Sep 6 19100 4:1 IST)
please tell me how is the badla calculated??
Mr Ramesh Damani (Wed Sep 6 19100 4:3 IST)
balgopol - badla is like stock prices. Badla price (Interest) is set by supply and demand for money and stock. It is free to seek its level.
abhay (Wed Sep 6 19100 4:2 IST)
where is nasdaq headed? it fell a lot yesterday.
Mr Ramesh Damani (Wed Sep 6 19100 4:3 IST)
abhay - Nasdaq could test 4500 levels. Dow will almost certainly test its prev high of 11750+
chetan (Wed Sep 6 19100 4:2 IST)
what's yr view on the banking sector?
Mr Ramesh Damani (Wed Sep 6 19100 4:4 IST)
chetan - no particular view. High interest rates hurt them.
ashokrbhatia (Wed Sep 6 19100 4:4 IST)
i have bought monalisa at about 90 rs ?...when do u think is the right time to book my losses and come out...or should i hang in there...?
Mr Ramesh Damani (Wed Sep 6 19100 4:4 IST)
ashokrbhatia - i dont follow it but it does sound like a good idea.
balasubramaniam (Wed Sep 6 19100 4:4 IST)
Can one take a long position in Silverline
Mr Ramesh Damani (Wed Sep 6 19100 4:5 IST)
bala - for trading SLT looks good.
vidya (Wed Sep 6 19100 4:6 IST)
Good evening. What is good in old economy?
Mr Ramesh Damani (Wed Sep 6 19100 4:6 IST)
vidya - good evening. Reliance, GE, ITC all look good.
ashokrbhatia (Wed Sep 6 19100 4:6 IST)
i basically track tmt sector...what do u think of ssi? it had touched a high of around 7000 Rs
Mr Ramesh Damani (Wed Sep 6 19100 4:6 IST)
ashok - i would put 2/3 of a portfolio in tmt. 1/3 in old economy type stocks
chetan (Wed Sep 6 19100 4:6 IST)
Is SLT silverline or Shyam Telecom?
Mr Ramesh Damani (Wed Sep 6 19100 4:7 IST)
chetan - silverline NYSE symbol is SLT
balasubramaniam (Wed Sep 6 19100 4:7 IST)
Do you see Silverline going above 450 during the ND which is coming up next week
Mr Ramesh Damani (Wed Sep 6 19100 4:8 IST)
bala - good chance of that happening.
ashokrbhatia (Wed Sep 6 19100 4:8 IST)
do u think old economy stocks would yield me a good return. i had mtnl at 230 Rs. now its around 145?
Mr Ramesh Damani (Wed Sep 6 19100 4:9 IST)
ashok - mtnl has cost everyone a lot of money. It's a great pity.
chetan (Wed Sep 6 19100 4:10 IST)
are you using index futures to hedge your portoflio?
Mr Ramesh Damani (Wed Sep 6 19100 4:10 IST)
chetan - the product is still not widely available. I think stock index futures was the correct place to begin. Regulatory environment should be loosened in the first few years.
chetan (Wed Sep 6 19100 4:9 IST)
Why is the futures market yet to see any interest even after two months of introduction? Is it that they should have brought in stock future and options first as that's what the Indian market seems to like rather than index futures?
Mr Ramesh Damani (Wed Sep 6 19100 4:11 IST)
chetan - not yet. If I am bullish I would buy or the reverse. I like it for speculating at this time.
balasubramaniam (Wed Sep 6 19100 4:11 IST)
Where is VIKAS WSP from this level. It has gone from 400 to 1060 during ND
Mr Ramesh Damani (Wed Sep 6 19100 4:12 IST)
bala - amazing move caught us all napping. though its move into demat had a little bit to do with it i think.
Millennium (Wed Sep 6 19100 4:12 IST)
What is your opinion about holding HCL Tech at Rs 1260 and Padmini Poly at Rs 155
Mr Ramesh Damani (Wed Sep 6 19100 4:13 IST)
Mill - I prefer INFY to HCL TECH. Padmini I would avoid.
ashokb (Wed Sep 6 19100 4:12 IST)
which is ur best pick in the software sector?
Mr Ramesh Damani (Wed Sep 6 19100 4:13 IST)
ashokb- it would have to by infy. At the 2nd level SSI, Visual.
chetan (Wed Sep 6 19100 4:14 IST)
what's the story in ssi?
Mr Ramesh Damani (Wed Sep 6 19100 4:15 IST)
chetan - ssi is expensive but focused on education and development. I think they will do well.
ashokbhatia (Wed Sep 6 19100 3:59 IST)
i have bought monalisa at about 90 rs ?...when do u think is the right time to book my losses and come out...or should i hang in there...?
ashokb (Wed Sep 6 19100 4:14 IST)
i had purchased parekh platinum also with monalisa at around 110 rs...what should i do with that?
Mr Ramesh Damani (Wed Sep 6 19100 4:15 IST)
ashokb- i would book losses.
chetan (Wed Sep 6 19100 4:15 IST)
any good telecom play?
Mr Ramesh Damani (Wed Sep 6 19100 4:16 IST)
chetan - GAIL is my best idea for telecom. No fancy though.
Mr Ramesh Damani (Wed Sep 6 19100 4:16 IST)
chetan - try Birla 3M, Krone and Framatone
Mr Ramesh Damani (Wed Sep 6 19100 4:17 IST)
I have to leave a few min earlier. Thanks for joining in have a prosperous day ahead.
Money
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