'We should retest 4485'
Ramesh S Damani thinks the recent market fall are deeper as there aren't enough shortsellers who would stabilise prices by covering their positions.
Mr Ramesh Damani (Wed Sep 20 19100 6:2 IST)
Hello everyone thanks for joining me. Let's start.
suman (Mon Sep 18 19100 6:23 IST)
Can u tell me how does the Sensex work?
Mr Ramesh Damani (Wed Sep 20 19100 6:3 IST)
suman - Sensex has 30 stocks. they are weighed by market cap.
Harish (Wed Sep 20 19100 6:3 IST)
How much will oil price increase affect the market? are we in a long bear market from here
Mr Ramesh Damani (Wed Sep 20 19100 6:6 IST)
Harish - oil price will affect old economy not tech. They will benefit from a weakening rupee
www (Wed Sep 20 19100 5:30 IST)
what's ur view on the markets. why is it so volatile? and do u think we have found a bottom?
Mr Ramesh Damani (Wed Sep 20 19100 6:6 IST)
www - market bottom of 4175 should hold.
sri (Wed Sep 20 19100 6:6 IST)
Hi Mr Damani, what is your view on Kale Consultants? and is it wise to buy Wipro at the present levels?
Mr Ramesh Damani (Wed Sep 20 19100 6:7 IST)
sri - i like kale. Wipro is a bit too expensive (market cap)
badal (Wed Sep 20 19100 4:16 IST)
when do u think will bse be online
Mr Ramesh Damani (Wed Sep 20 19100 6:7 IST)
badal - BSE has a good web site. We shoule be online in a few months time
sobia merchant (Wed Sep 20 19100 4:1 IST)
Sir, I am interested in buying shares online. I wish to earn some profit by purchasing and selling shares online. Please guide me in this regard. My investment may not be much but is it worthwhile to trade online.
Mr Ramesh Damani (Wed Sep 20 19100 6:9 IST)
sobia - icicidirect.com and sharekhan.com are good place to begin. Brokerage rates are low so it doesn't cost much.
gurvinder singh (Wed Sep 20 19100 3:47 IST)
ALL THE SHARE PRICES ARE COMING DOWN LIKE ITC SILVERLINE INFOSYS IS IT THE RIGHT TIME TO BUY THESE SHARES PLEASE ADVICE
Mr Ramesh Damani (Wed Sep 20 19100 6:9 IST)
gurvinder - hold on to the shares. I think they will do well.
nandan (Wed Sep 20 19100 6:9 IST)
hi. what do you think of ssi's acquisition. i have bought the stock at rs 3050 last week. what should i do?
Mr Ramesh Damani (Wed Sep 20 19100 6:11 IST)
nandan - yesterday ssi traded 45% of its equity. It is getting ready for a big move. Above 2850 it looks good technically.
laksshmi (Tue Sep 19 19100 23:50 IST)
sir, I want to invest my money on shares. Is it correct or not? please guide me. If it is correct, please give your valuable advice to me that what type shares and how to by those shares. I am new to shares. Is it possible to buy any type of company shares through internet. Please guide me sir. Thanking you, sir
Mr Ramesh Damani (Wed Sep 20 19100 6:12 IST)
lakshmi - you should put some money in equities. If you can't follow the market day to day buy an index fund from UTI which tracks the Sensex or Nifty
nandan (Wed Sep 20 19100 6:12 IST)
isn't it a bad sign for the share to trade so much without much change in price?
Mr Ramesh Damani (Wed Sep 20 19100 6:13 IST)
nandan - it's trying to read tea leaves. Such volumes though precede price changes.
suraj (Wed Sep 20 19100 5:55 IST)
why is there so much volatililty in market?
Mr Ramesh Damani (Wed Sep 20 19100 6:14 IST)
suraj - market open positions in MTNL, INFY are large. NASDAQ fall made people nervous. We have very little short sales so falls are deeper. No one steps in to buy which typically the shortsellers do in a down market.
suraj (Wed Sep 20 19100 6:15 IST)
what is the direction now?
Mr Ramesh Damani (Wed Sep 20 19100 6:15 IST)
suraj - at least short term higher. We should retest 4485.
nandan (Wed Sep 20 19100 6:17 IST)
what's happening in HFCL? and how do you explain the 450 crore net sales of FIIs today? any specific reason for such high net sales?
Mr Ramesh Damani (Wed Sep 20 19100 6:20 IST)
nandan - HFCL is an impossible counter to decipher.
amitr (Wed Sep 20 19100 6:20 IST)
What is a good price to buy Infosys?
Mr Ramesh Damani (Wed Sep 20 19100 6:21 IST)
amitr - current price is good. I think to buy INFY. 2Q results will be good.
romeo (Wed Sep 20 19100 6:19 IST)
what's your expectation of infy's 2nd qtr performance?
Mr Ramesh Damani (Wed Sep 20 19100 6:22 IST)
Romeo - a bit above 150 crs in the 2nd Q would be excellent.
anshuman (Wed Sep 20 19100 6:22 IST)
what do u think about indian companies waiting in line to tap the US markets. it's mostly from the media, infotech and pharma sectors?
Mr Ramesh Damani (Wed Sep 20 19100 6:23 IST)
anshuman - a lot of them are going to get lost in NASDAQ and NYSE. They should have a strong domestic footprint. Only truly good tech companies from India will have a global following.
amitr (Wed Sep 20 19100 6:22 IST)
how is Hughes Tele and Mukta Arts?
Mr Ramesh Damani (Wed Sep 20 19100 6:24 IST)
amitr - i like both Huges Tele and Mukta Arts.
vidya (Wed Sep 20 19100 6:24 IST)
Will dollar touch Rs 50 and software companies make huge profit because?
Mr Ramesh Damani (Wed Sep 20 19100 6:25 IST)
vidya - yes, but it is not quality profits. It's increasing your bank balance because dad increased your allowance.
anshuman (Wed Sep 20 19100 6:24 IST)
but what about top pharma companies like dr reddy's which expect to tap the us markets now? and media giants like Zee TV?
Mr Ramesh Damani (Wed Sep 20 19100 6:26 IST)
anshuman - Dr Reddy's will get lost. Zee has already scaled down its ambitions. They need to worry about prime time line up. KBC is killing them
krish (Wed Sep 20 19100 6:26 IST)
i want to buy some tech stocks and my list is infy, hughes, hcl tech, satyam, niit, visual and ssi. which are the best?
Mr Ramesh Damani (Wed Sep 20 19100 6:27 IST)
krish - infy, visual, ssi are good. NIIT and Hughes telecom are all good candidates.
romeo (Wed Sep 20 19100 6:27 IST)
why are the markets so volatile in the last two sessions?
Mr Ramesh Damani (Wed Sep 20 19100 6:28 IST)
romeo - markets went from optimism to pessimism. Also look at earlier question on the role of short sellers.
Mr Ramesh Damani (Wed Sep 20 19100 6:30 IST)
Thanks for all joining in. Have a prosperous week, Bye.
Money
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