'Be careful around 4500-4600 levels'
Ramesh S Damani expects a technical rally led by Infosys but is sceptical of the Sensex sustaining over 4500-4600 points.
Mr Ramesh Damani (Wed Aug 9 19100 5:58 IST)
hello everyone, thanks for joining in. Let's start
abc (Wed Aug 9 19100 5:52 IST)
is this rally a dead cat bounce...
Mr Ramesh Damani (Wed Aug 9 19100 5:59 IST)
abc - it looks like a dead cat bounce. Let's see how the index behaves over 4550-4600
uprahlad (Wed Aug 9 19100 5:53 IST)
How to purchase and sell good shares? Please let me know
Mr Ramesh Damani (Wed Aug 9 19100 6:0 IST)
uprahlad - that is a difficult question to answer. First thing is find a good broker. If you are internet-savvy, find a platform to trade via internet with the likes of ICICI or Sharekhan.com
sam (Wed Aug 9 19100 5:58 IST)
what's your view on the markets sir and where is it headed? With FIIs being permitted to use index futures to hedge their exposure? how significant is this for the markets and do u think they will use this product?
Mr Ramesh Damani (Wed Aug 9 19100 6:1 IST)
sam - market should experience a technical rally led by INFY. I would be careful around 4500-4600.
Investor (Wed Aug 9 19100 6:0 IST)
Where are Infosys and Silverline headed? Are these scrips good for holding abt a years time?
Mr Ramesh Damani (Wed Aug 9 19100 6:2 IST)
Investor - i would hold infy and sell silverline.
man (Wed Aug 9 19100 6:2 IST)
how much will the rupee depreciation impact the markets... will fiis pull out more money? how do u see the markets at the present juncture?
Mr Ramesh Damani (Wed Aug 9 19100 6:3 IST)
man - see earlier answer. For market to go up it needs NASDAQ to cross 4500 or 2nd generation reforms. I see neither as very likely. So we may be in a trading zone.
Mr Ramesh Damani (Wed Aug 9 19100 6:3 IST)
man - the rupee depreciation helps software, shipping, hotel stocks
Investor (Wed Aug 9 19100 6:1 IST)
Any recommendation for scripts to hold for abt a year's perspective?
Mr Ramesh Damani (Wed Aug 9 19100 6:4 IST)
Investor- take a look at Birla 3M and Abbott Labs with a 2-3 year time frame.
ashabhagwan (Wed Aug 9 19100 6:3 IST)
sir what should I do with infy I bought today at 7762, will it cross that level this week?
Mr Ramesh Damani (Wed Aug 9 19100 6:5 IST)
asha - infy should do well. It's hard to say if it will cross 7762 this week or not. If the market will move, it must move on the back of INFY.
man (Wed Aug 9 19100 6:0 IST)
what if infy does not announce an acquisition in the analyst meet tomorrow? and was Janus the real buyer in Infosys?
Mr Ramesh Damani (Wed Aug 9 19100 6:6 IST)
man - infy is not going to announce any acquisition tomorrow. I doubt it. I hope they do it soon though.
sri (Wed Aug 9 19100 5:58 IST)
Good Evening Mr. Damani. Do U know of anybody offering online trading to NRIs? I can't use ICICI Direct as I'm in the US.
Mr Ramesh Damani (Wed Aug 9 19100 6:7 IST)
sri - if you have a Rs a/c with say HDFC or India bulls, it should be pretty seamless. You should check the legalities.
ashabhagwan (Wed Aug 9 19100 6:9 IST)
so sir you advise me to exit from infy
Mr Ramesh Damani (Wed Aug 9 19100 6:26 IST)
ashabhagwan. that's not what i have suggested, it should move with the markets.
man (Wed Aug 9 19100 6:8 IST)
do you see the FIIs being buyers again going by the last three days' track record which might be short to take a view on their direction?
Mr Ramesh Damani (Wed Aug 9 19100 6:27 IST)
man, the fiis would be buyers if NASDAQ crosses 4500 or if the rupee stops depreciating.
spladdha (Wed Aug 9 19100 6:27 IST)
Tell me about silverline, rel.capital, torrent pharma, zee tele?
Mr Ramesh Damani (Wed Aug 9 19100 6:28 IST)
spladdha: focus on the big A group stocks, zee is still in a downtrend. Last question
Mr Ramesh Damani (Wed Aug 9 19100 6:29 IST)
thanks for joining in, have a prosperous week, see you next week.
Money
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