'The market is a buy'
Ramesh S Damani says the market has climbed 240 points in seven days and is going through a reaction. He expects it to be sluggish till the oil price hike but move swiftly after the revision.
Mr Ramesh Damani (Wed Sep 13 19100 5:50 IST)
Hello everybody thanks for joining in. Let's start.
samar (Wed Sep 13 19100 5:50 IST)
hi Mr Damani. what happened today? Are you bearish?
Mr Ramesh Damani (Wed Sep 13 19100 5:51 IST)
samar - market has climbed 240 points in 7 days. Looks like a reaction. Tomorrow INFY press conference will be very important.
ashabhagwan (Wed Sep 13 19100 5:52 IST)
mr damani I want to become a technical analyst. how do I go about? any books to refer or course to attend
Mr Ramesh Damani (Wed Sep 13 19100 5:53 IST)
asha- lots and lots of books are available. Start by reading Reminiscences of a Stock Operator. Then go to a tech text book. Start dreaming prices. Good Luck
samar (Wed Sep 13 19100 5:52 IST)
What does the market expect out of Infy?
Mr Ramesh Damani (Wed Sep 13 19100 5:54 IST)
samar - no one knows. But if Bill Gates and Murthy meet it must be big. Meeting of the Titans.
rohit (Wed Sep 13 19100 5:54 IST)
is this a market to buy? will stocks fall more?
Mr Ramesh Damani (Wed Sep 13 19100 5:55 IST)
rohit - the market is a buy, It will be sluggish till the oil price hike. Move swiftly after that.
ashish (Wed Sep 13 19100 5:52 IST)
what is happening with the FIIs? one day there is a big sales number and the market goes up, and the day there is a big buy number, it doesn't react?
Mr Ramesh Damani (Wed Sep 13 19100 5:56 IST)
ashish - basically global equities are moving up again. except NASDAQ. I am hopeful market can rally to 5050
shivani (Wed Sep 13 19100 5:56 IST)
do u recommend any stocks now MR Damani?
Mr Ramesh Damani (Wed Sep 13 19100 5:57 IST)
shivani - Infy, SSI, Visualsoft, Birla 3M, Abbott, GE Shipping, ITC, Reliance to get you started. In small caps, i like ITW Signode and Kinetic Motor
abhi (Wed Sep 13 19100 5:57 IST)
What do you think of Infosys, Visual and SSI sir?
Mr Ramesh Damani (Wed Sep 13 19100 5:58 IST)
abhi - i like all three.
ashabhagwan (Wed Sep 13 19100 5:55 IST)
can you name some tech books please it will be a great help
Mr Ramesh Damani (Wed Sep 13 19100 5:59 IST)
asha - try Technical Analysis by John Murphy to begin.
ashish (Wed Sep 13 19100 5:59 IST)
how do you explain FII buying and selling with our market?
Mr Ramesh Damani (Wed Sep 13 19100 6:0 IST)
ashish - they are cowboys out to make a buck. marginal inflow.
abhi (Wed Sep 13 19100 5:59 IST)
can one buy all three at current price?
Mr Ramesh Damani (Wed Sep 13 19100 6:0 IST)
abhi - sure over one year you should do well in all three.
Shreeram (Wed Sep 13 19100 6:0 IST)
What is your opinion on Vikas WSP
Mr Ramesh Damani (Wed Sep 13 19100 6:1 IST)
Shreeram - I do not fancy the stock of Vikas WSP
kiran (Wed Sep 13 19100 6:0 IST)
hll has reduced stake in tasty bite. is it good or bad?
Mr Ramesh Damani (Wed Sep 13 19100 6:1 IST)
kiran - it is of no consequence. They have pref shares not equity, Co is well managed and growing
radha (Wed Sep 13 19100 6:2 IST)
there was panic in mkt today. how much will sensex fall from here? and Himachal and global?
Mr Ramesh Damani (Wed Sep 13 19100 6:3 IST)
radha - panic is too strong a word. Maybe violent or choppy. If INFY has a good conference and NASDAQ holds market will rally
ashabhagwan (Wed Sep 13 19100 6:2 IST)
any low priced stock to enter?
Mr Ramesh Damani (Wed Sep 13 19100 6:3 IST)
asha take a look at Kinetic Motor at 40. Earns Rs 9.2 pays taxes yields Rs 2.5 dividend.
ashish (Wed Sep 13 19100 6:3 IST)
BSE is not moving with nasdaq these days. what is the reason?
Mr Ramesh Damani (Wed Sep 13 19100 6:4 IST)
ashish - both NASDAQ and BSE are 20-22% off the 2000 highs. that's pretty good correlation.
shah (Wed Sep 13 19100 6:6 IST)
What do you think of satyam and zee?
Mr Ramesh Damani (Wed Sep 13 19100 6:6 IST)
shah - zee is in a tough spot with the success of KBC. Satyam will do well over the next 6 months
ashabhagwan (Wed Sep 13 19100 6:6 IST)
I have heard from CNBC analyst that the market will reach 5500 by Diwali is it true?
Mr Ramesh Damani (Wed Sep 13 19100 6:7 IST)
asha - let's hope so. It very well could.
ashabhagwan (Wed Sep 13 19100 6:8 IST)
will satyam reach 800 levels with in next 3 months
Mr Ramesh Damani (Wed Sep 13 19100 6:8 IST)
asha - if the sensex can touch 5500 it would be a good candidate.
arti (Wed Sep 13 19100 6:12 IST)
Can the market touch 5050 by next week?
Mr Ramesh Damani (Wed Sep 13 19100 6:13 IST)
arti - a bit too optimistic. Maybe by the end of the month
sunny (Wed Sep 13 19100 6:14 IST)
there is a rumour that infy and ssi will acquire a company. is it true and can one make money on both in short term?
Mr Ramesh Damani (Wed Sep 13 19100 6:16 IST)
sunny - ssi deal may be announced shortly. INFY has a press conference with Microsoft tomorrow. Acquisition is still further away
basha (Wed Sep 13 19100 6:17 IST)
I got lot of Infosys shares is it right time to sell?
Mr Ramesh Damani (Wed Sep 13 19100 6:18 IST)
basha - if you want to be invested and remain in tech, infy is your best bet.
arti (Wed Sep 13 19100 6:18 IST)
can one make money on SSI then?
Mr Ramesh Damani (Wed Sep 13 19100 6:19 IST)
arti - day trading is an art. I cannot answer that Q.
Dilip (Wed Sep 13 19100 6:22 IST)
Do You suggest to exit from DSQ and satyam ?
Mr Ramesh Damani (Wed Sep 13 19100 6:22 IST)
Dilip - I am bullish. I would remain invested.
jitendra (Wed Sep 13 19100 6:22 IST)
What is your view on Padmini Technologies at current price a good bet to buy or sell?
Mr Ramesh Damani (Wed Sep 13 19100 6:23 IST)
jitendra - i do not follow Padmini Tech
basha (Wed Sep 13 19100 6:22 IST)
It means infy shares will rise further?
Mr Ramesh Damani (Wed Sep 13 19100 6:23 IST)
basha - i think so
shar (Wed Sep 13 19100 6:22 IST)
there is a lot of speculation in the market about prices shooting up? Is it so?
Mr Ramesh Damani (Wed Sep 13 19100 6:24 IST)
shar - the volumes suggest higher prices. Remember volume action precedes price action.
Mr Ramesh Damani (Wed Sep 13 19100 6:25 IST)
Thanks all for logging in. See you next week. Have a prosperous day.
Money
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