'Let's hope it holds at 4200'
Ramesh S Damani says we are in a trading zone with a downward slant and the market will be range-bound. He advises investors to sell the rallies.
Mr Ramesh Damani (Wed May 10 19100 5:56 IST)
Hello everybody - thanks for joining in. Let's start.
vinu (Wed May 10 19100 5:53 IST)
is it time to get out of stocks? or is it time to average?
Mr Ramesh Damani (Wed May 10 19100 5:57 IST)
vinu - market looks in a trading zone with a downward slant. Sell the rallies.
rohit (Wed May 10 19100 5:45 IST)
mr damani, when will the bloodbath end and how low can the sensex fall to?
Mr Ramesh Damani (Wed May 10 19100 5:57 IST)
rohit - to early to tell. Sensex should hold at 4200. If it breaks it we are off to 3800.
sharad toshniwal (Wed May 10 19100 4:56 IST)
dear sir, should one buy hfcl and zee. i have been allotted 200 shares of cadila zydus. It is hitting upper limits since 4 days. what should i do. Should I hold or sell. thank u
Mr Ramesh Damani (Wed May 10 19100 5:58 IST)
Dear sharad - zee saw big selling today. I would be bearish. I am not a fan of HFCL. Cadila I don't follow.
doshirajiv (Wed May 10 19100 5:16 IST)
Dear Sir Your general feeling of the mkt.& what are your hot picks?
Mr Ramesh Damani (Wed May 10 19100 5:59 IST)
Doshi, we are in a bear market. Govt needs to show some leadership particularly regarding disinvestment. That is the big call.
ppn (Wed May 10 19100 5:22 IST)
hi mr damani. i have bought a huge quantity of Satyam Computer at the Rs 1100 levels please tell me as to what i should do, should i sell them or hold on to them. please guide me as these shares have been bought from my life savings.
Mr Ramesh Damani (Wed May 10 19100 6:1 IST)
ppn - tough? I would partially book profits if it is that important a holding. IF NASDAQ falls SIFY may go down sharply and hence by proxy Satyam.
sheelvant (Wed May 10 19100 5:44 IST)
what about purchasing the Silverline shares at this stage
Mr Ramesh Damani (Wed May 10 19100 6:2 IST)
Sheelvant- at this juncture I am not bullish on Silverline
sameer (Wed May 10 19100 6:1 IST)
you spoke about bad news last time. do you still expect it?
Mr Ramesh Damani (Wed May 10 19100 6:2 IST)
sameer- it seems to be coming everyday-look at zee today?? That must hurt. Went down with volume
rohit (Wed May 10 19100 6:2 IST)
what is your view on results sir?
Mr Ramesh Damani (Wed May 10 19100 6:3 IST)
rohit - i saw the interview on CNBC. It looks they are growing at 30%. How do you justify a pe of 150 + or its fancy market cap of Rs 25000 crores.
RAHUL BI (Wed May 10 19100 6:3 IST)
ARVIND MILLS , NOCIL &SAIL=SHOULDN’T THESE STOCKS BE IN THE "B" GROUP!! IF NO, THEN IS NOCIL A BUY ??
Mr Ramesh Damani (Wed May 10 19100 6:4 IST)
RAHUL BI- agreed. Next revision of A group they will get demoted probably.
rahul (Wed May 10 19100 6:4 IST)
mr damani..i have the capacity to hold it for as long as 1 yr. but do u see satyam going up in the near future?
Mr Ramesh Damani (Wed May 10 19100 6:5 IST)
rahul - it will rally time to time. Watch NASDAQ and the value of SIFY.
RAHUL BI (Wed May 10 19100 5:59 IST)
Is HIND LEVER CHEM a buy? How is NIRMA different from HIND LEVER CHEM??
Mr Ramesh Damani (Wed May 10 19100 6:6 IST)
Rahul - NIRMA has a brand, Hind Lever Chem makes intermediates. Nirma is fairly illiquid.
iamaloser (Wed May 10 19100 6:6 IST)
what can bring a bull market now?
Mr Ramesh Damani (Wed May 10 19100 6:7 IST)
iamaloser- a 50,000 cr govt privatisation program of PSUs. It it the centerpeice of Gen II reforms.
iamaloser (Wed May 10 19100 6:8 IST)
do u see it coming in coalition politics sir?
Mr Ramesh Damani (Wed May 10 19100 6:9 IST)
iamaloser- country will be in an internal debt trap by next year. They will be forced to disinvest. If they do it now they will get better value and be re-elected because the Sensex will cross 6000.
yahoo (Wed May 10 19100 6:8 IST)
hi mr damani. what is a good buy at these levels?
Mr Ramesh Damani (Wed May 10 19100 6:10 IST)
yahoo - take a look at Bharat Electronics. It's an excellent buy at 70-72.
yahoo (Wed May 10 19100 6:10 IST)
which is a better buy at these levels...infy or saty?
Mr Ramesh Damani (Wed May 10 19100 6:11 IST)
yahoo - infy by far.
analyst (Wed May 10 19100 6:9 IST)
how do you find the results till date sir? some software companies like fujitsu and onward have done bad but infosys satyam were good. do you see any surprises either positive or negative?
Mr Ramesh Damani (Wed May 10 19100 6:14 IST)
analyst- results have been good except for a major like zee. market is falling due to the speculative excesses in Himachal, Global etc. Retail traders have lost money.
Rinku (Wed May 10 19100 6:13 IST)
Mr Damani please tell me the logic of Janus investing a huge 5% in Reliance?
Mr Ramesh Damani (Wed May 10 19100 6:16 IST)
rinku - janus is the largest mutual fund in the US. I am sure they have done there homework. I think they are making a bet on the old economy I wouldn't buy it here either though. (reliance)
gnkamath (Wed May 10 19100 6:15 IST)
views on hfcl, zee,when should one sell?
Mr Ramesh Damani (Wed May 10 19100 6:17 IST)
gnkamath- both are in major downtrend.
Siddique (Wed May 10 19100 6:16 IST)
Mr. Damani, the market has been very volatile for the last 1 month or so, where do u see the market heading right now ?
Mr Ramesh Damani (Wed May 10 19100 6:17 IST)
Siddique- I am nervous. We are range bound. Lets hope we hold ar 4200.
RAHUL BI (Wed May 10 19100 6:17 IST)
ANY VIEWS ON " WOCKHARDT" /// "A" GROUP =MQ1/2000 N.P.=15CR VS 8CR
Mr Ramesh Damani (Wed May 10 19100 6:18 IST)
RAHUL BI - i don't follow pharma stocks. Result looks good.
rachna (Wed May 10 19100 6:18 IST)
mr damani -- any attractive stocks in the old economy?
Mr Ramesh Damani (Wed May 10 19100 6:20 IST)
rachna - I am looking hard. It would be L & T around 175 for an absolute bet on Old economy + new economy.
sgraghavan (Wed May 10 19100 6:19 IST)
What is the outlook for Engineers India Ltd. I feel it is a terribly undervalued stock. sgraghavan@email.com
Mr Ramesh Damani (Wed May 10 19100 6:21 IST)
sgraghvan- engineers looks good. If the Govt privatised it they would get a price of 1200+ I think. Good value
Siddique (Wed May 10 19100 6:21 IST)
Any comments on Reliance Mr. Ramesh ?
Mr Ramesh Damani (Wed May 10 19100 6:21 IST)
Siddique - I am not a great fan of Reliance at current levels.
sgraghavan (Wed May 10 19100 6:21 IST)
What is your rating for BPCL sgraghavan@email.com
Mr Ramesh Damani (Wed May 10 19100 6:22 IST)
sraghvan- ditto BPCL needs to be privatised. Its marketing outfit will be worth a lot.
jiten (Wed May 10 19100 6:22 IST)
mr damani itc seems to be standing very strong even today when the market all round was falling what's your view, should one buy at current prices they have not been so low in a very long time
Mr Ramesh Damani (Wed May 10 19100 6:24 IST)
jiten - Philip Morris a Dow stock and yester year glamour stock is trading at at a PE of 5, yield of 7% or so. Tobacco stocks are out of favour. They are not going to be market leaders like itc was in 1992.
Rinku (Wed May 10 19100 6:19 IST)
Mr Damani a few weeks ago u mentioned that the market leader in the ICE sector would get back to their high levels but it doesn't seem to be right now. How much more time do u think it'll take?
Mr Ramesh Damani (Wed May 10 19100 6:25 IST)
Rinku - the bull market in tech seems to be over. The highs look like Mt Everest right now.
Siddique (Wed May 10 19100 6:25 IST)
When the market is some day UP by 200 pts, next day it goes down by 250 pts. So do u think that technical analysis would stand correct under such circumstances ?
Mr Ramesh Damani (Wed May 10 19100 6:25 IST)
Siddique- market will witness listless trading on dull volumes over the next quarter.
RAHUL BI (Wed May 10 19100 6:25 IST)
YOUR 5 STOCKS???EXCEPT =INFO,SATY,WIPRO
Mr Ramesh Damani (Wed May 10 19100 6:26 IST)
Rahul - take a look at Bh Elecronics. The rest I would wait.
Siddique (Wed May 10 19100 6:27 IST)
Mr. Ramesh, do u think that the Nasdaq should have such a drastic implications on the BSE?
Mr Ramesh Damani (Wed May 10 19100 6:27 IST)
siddique- India is now plugged into the global economy.
Rinku (Wed May 10 19100 6:27 IST)
Mr Damani when u say "the bull market in tech is over" then what's your advice for us small investors as of now?
Mr Ramesh Damani (Wed May 10 19100 6:28 IST)
Rinku - Stocks that show growth and profits will still perform. INFY, VISUAL are still on track for a good year. PE will deflate a little bit.
jiten (Wed May 10 19100 6:28 IST)
mr damani thanks for your advise on itc what is the next boom sector in your opinion if the tech bull run is over
Mr Ramesh Damani (Wed May 10 19100 6:29 IST)
jiten- if the govt decides to disinvest and that is a big IF look at PSUs. They are very cheap.
jiten (Wed May 10 19100 6:30 IST)
mr damani you think the 50 basis point hike the fed is hoping to slam on 19th may will impact our market negatively or will it be used by the bear operators either way to hammer down some stock
Mr Ramesh Damani (Wed May 10 19100 6:31 IST)
jiten - market has discounted it in the US. Let's hope the new inflation numbers are quiet. Otherwise we will have trouble. Watch the inflation numbers.
RAHUL BI (Wed May 10 19100 6:31 IST)
WHERE IS GRASIM HEADED-?? BOOK VALUE~~300
Mr Ramesh Damani (Wed May 10 19100 6:32 IST)
Rahul - No great opinion on GRASIM.
jiten (Wed May 10 19100 6:31 IST)
sir which sectors in your opinion will take the fancy of the operators i think biotechs , financials (banks should do well am i online ??
Mr Ramesh Damani (Wed May 10 19100 6:32 IST)
jiten - pvt banks, HDFC Bank, ICICI Bank, should do well.
Siddique (Wed May 10 19100 6:33 IST)
What do u think about the IT shares heading in future ?
Mr Ramesh Damani (Wed May 10 19100 6:33 IST)
Siddique-market will pay for performance. Non performance will be punished.
jiten (Wed May 10 19100 6:33 IST)
global trust bank suddenly seems to be hotting up with lot of advertisements etc they are also intending to become another icici as far as ecommerce/trade is concerned is it a good stock to get into at these levels is my reading of the stock correct ?
Mr Ramesh Damani (Wed May 10 19100 6:34 IST)
jiten - probably a good trading punt. For investment stick to HDFC, ICICI.
Rinku (Wed May 10 19100 6:34 IST)
Do u advice us to book losses in tech sectors & sit tight until a clear picture emerges?
Mr Ramesh Damani (Wed May 10 19100 6:35 IST)
Rinku - In the non majors look at them carefully. Not every one will get a pE of 30 or 40 again.
Mr Ramesh Damani (Wed May 10 19100 6:36 IST)
last question before we call it a day
jiten (Wed May 10 19100 6:36 IST)
sir any news on satyam stock split rumours are agog that they will come in with a split in june will that improve sentiment on this stock i am currently stuck with stock at 4000 levels you think there will be some respite for me ??
Mr Ramesh Damani (Wed May 10 19100 6:37 IST)
jiten - no fresh news. A split generally helps. Still keep looking at SIFY. i think it might slide further,
RAHUL BI (Wed May 10 19100 6:37 IST)
ZEE ==WHERE IS THIS HEADED--TO 400==300=200??
Mr Ramesh Damani (Wed May 10 19100 6:37 IST)
rahul - zee is in a major downtrend. Thanks for joining. Let's talk next Wednesday. Thanks.
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