'The market seems to be in a coma'
Ramesh S Damani says investors should wait before buying as there is no confidence in the market. He also has advice for the novice and the short-seller.
Mr Ramesh Damani (Wed Jul 26 19100 5:46 IST)
Hello everyone thanks for joining in. let's start a little early today.
vivek (Thu Jul 20 19100 9:53 IST)
what about Reliance capital
Mr Ramesh Damani (Wed Jul 26 19100 5:47 IST)
vivek - rumour has it that Rel Cap will be the vehicle for Ambani's foray into telecom. If so it is a good bet. It's still a rumour though.
divyesh (Thu Jul 20 19100 11:38 IST)
should i buy satyam
Mr Ramesh Damani (Wed Jul 26 19100 5:48 IST)
Divyesh, i am partial to infy compared to sify
divyesh (Thu Jul 20 19100 11:39 IST)
how about global tele
Mr Ramesh Damani (Wed Jul 26 19100 5:49 IST)
Divyesh - the telecom sector looks real good. I think you will find better valuation elsewhere though. Telecom is going to be big though!!!
uday (Thu Jul 20 19100 14:21 IST)
which is a safe stock that is likely to appreciate in long term?
Mr Ramesh Damani (Wed Jul 26 19100 5:50 IST)
Uday - look for a business that will be around 10 years from now for sure. The choice reduces. Name me five stocks. Remeber tech can become a wreck soon.
Nayak (Tue Jul 25 19100 23:2 IST)
What is the relation between the company's growth and stock market? How will Synergy login fare in the days to come?
Mr Ramesh Damani (Wed Jul 26 19100 5:52 IST)
Nayak - higher the sustainable growth, higher the price. However very few businesses can compound at 25%+ per annum. IN US stocks at 17% are rated 5-star. We will have few companies in India. If you spot one hang on to it for dear life.
ram (Wed Jul 26 19100 1:6 IST)
where are you from sir
Mr Ramesh Damani (Wed Jul 26 19100 5:52 IST)
ram - mumbai India. Member of the BSE.
Narasimhan (Wed Jul 26 19100 5:0 IST)
Can I purchase Infosys share in US? If yes can I sell the same in India or vice versa?
Mr Ramesh Damani (Wed Jul 26 19100 5:53 IST)
Narsiman - you can purchase INFY in US if you are an NRI or US citizen. Not if you are Indian. If you are Indian you cannot sell in US unfortunately.
GEETARAJ (Wed Jul 26 19100 5:36 IST)
What are the prospects for Widia India? Can I buy at the present price for short term (3-months) gain?
Mr Ramesh Damani (Wed Jul 26 19100 5:54 IST)
Geeta - I dont follow it. What do you like about Widia?
anu (Wed Jul 26 19100 3:44 IST)
will online trading be successful in india? who r the major players in today's market as rgds online trading?
Mr Ramesh Damani (Wed Jul 26 19100 5:55 IST)
anu - over 3 years yes. It will wipe out the small to medium brokers.
deepa (Wed Jul 26 19100 5:55 IST)
hi mr damani! u started early today....what do u feel of the markets with the crash for 2 days
Mr Ramesh Damani (Wed Jul 26 19100 5:57 IST)
Deepa - Hi. Technically, the market seems to be in a coma. Looks like that macroeconomic picture has deteriorated.
abb (Wed Jul 26 19100 5:55 IST)
what happened in today's market? where do you see the bottom for the market?
Mr Ramesh Damani (Wed Jul 26 19100 5:58 IST)
abb - market should hold at 3850-3900. Test its previous bottoms. Though stocks like Larsen again at 180 scare me.
deepa (Wed Jul 26 19100 5:58 IST)
timex i have bought at 16. what do u suggest
Mr Ramesh Damani (Wed Jul 26 19100 6:0 IST)
deepa - stick with it. They will do ok. (timex)
deepa (Wed Jul 26 19100 5:58 IST)
what do u fell mtnl at current levels and also M&M
Mr Ramesh Damani (Wed Jul 26 19100 5:59 IST)
deepa - mtnl is a melting value. No privatisation means no price gains. M&M looks reasonably okay.
abb (Wed Jul 26 19100 6:0 IST)
if you are assuming that the bull run is still there? Will it still be a buyer's market at 6,000 levels if the sensex reaches that level
Mr Ramesh Damani (Wed Jul 26 19100 6:1 IST)
abb - it looks like a bear market to me. The market works only because at every level people have a contrary opinion.
sri (Wed Jul 26 19100 6:0 IST)
Hi Mr. Damani. Is it the right time to enter the market or should I wait ?
Mr Ramesh Damani (Wed Jul 26 19100 6:1 IST)
sri - i would wait. No confidence yet in the market. If NASDAQ remains strong or the Rupee stops depreciating that would be the time to get in.
deepa (Wed Jul 26 19100 6:1 IST)
do u suggest we do away with psus totally
Mr Ramesh Damani (Wed Jul 26 19100 6:2 IST)
deepa - certainly reduce PSU weightage. Only keep the essentials and pray.
deepa (Wed Jul 26 19100 6:6 IST)
also ur comments on denso india. the profits are good and i have bought at 30 + levels
Mr Ramesh Damani (Wed Jul 26 19100 6:7 IST)
deepa - denso is a great Japanese company. Unfortunately they have opened 2-3 private subsidaries. Everything here may not be in the listed co.
sri (Wed Jul 26 19100 6:5 IST)
Can u suggest me a couple of stocks for the long term? (I already have L&T)
Mr Ramesh Damani (Wed Jul 26 19100 6:8 IST)
sri - take a look at Birla 3M and Abbott.
Rinku (Wed Jul 26 19100 6:8 IST)
Please tell me why don't u suggest people to sell (to become a bear) instead of buying & making money
Mr Ramesh Damani (Wed Jul 26 19100 6:10 IST)
Rinku - good question. Most people cannot understand how you can sell what you don't not own. (going short.) Also losses are unlimited when going short. Though if you can do it its great!
deepa (Wed Jul 26 19100 6:9 IST)
mr damani u do not seem to have followed my ques...denso is listed co so currently trading around 16+.do u feel it will return to 30+ levels in next 3 mts or so
Mr Ramesh Damani (Wed Jul 26 19100 6:10 IST)
Deepa - re-read my answer.
deepa (Wed Jul 26 19100 6:11 IST)
so u feel the 2-3 pvt subsidiaries will affect the performance of denso india
Mr Ramesh Damani (Wed Jul 26 19100 6:12 IST)
--deepa - yes. it creates a conflict of interest. Who do mothers like more sons or step sons?
deepa (Wed Jul 26 19100 6:5 IST)
what do u feel of amararaja batteries.see it is a monopoly in its field and still not doing well
Mr Ramesh Damani (Wed Jul 26 19100 6:13 IST)
deepa - I dont follow it. I mentioned that in a previous show.
Rinku (Wed Jul 26 19100 6:13 IST)
Well about your statement"Losses are unlimited when going short" I would say it to be just the opposite.Your comments on this.
Mr Ramesh Damani (Wed Jul 26 19100 6:14 IST)
Rinku. You could have shorted ACC in 1992 at its historic high of 440. The stock went to 10,000. It could have gone higher. IN going long you only loose the amount invested.
deepa (Wed Jul 26 19100 6:13 IST)
good answer u have given but then acc to your answer denso should perform well
Mr Ramesh Damani (Wed Jul 26 19100 6:15 IST)
deepa - it they merged all the busineess yes. Let me know if it happens.
abb (Wed Jul 26 19100 6:14 IST)
PLEASE ANSWER THIS QUESTION if you are assuming that the bull run is still there? Will it still be buyers market at 6,000 levels if the sensex reaches that level
Mr Ramesh Damani (Wed Jul 26 19100 6:15 IST)
abb - i have answered your Q. Look at the previous answers.
Rinku (Wed Jul 26 19100 6:16 IST)
That`s an exceptional case & time. Why not make money (for the next few days) by going short. Money can be lost both ways but following the trend makes u gain. Isn't it?
Mr Ramesh Damani (Wed Jul 26 19100 6:17 IST)
Rinku - absolutely. The trend is your friend. But remember the fortunes in life are made by making a correct contrary bet. The rest is petty change.
abb (Wed Jul 26 19100 6:17 IST)
how reliable are these FII figures? is there a possibility of warehousing taking place and the figures delayed to the wishes of select few people?
Mr Ramesh Damani (Wed Jul 26 19100 6:18 IST)
abb - it does happen sometime. But they have been selling INFY.
Rinku (Wed Jul 26 19100 6:19 IST)
Please explain "contrary bet".
Mr Ramesh Damani (Wed Jul 26 19100 6:19 IST)
Rinku, when everyone is bullish you become bearish. Example March 2000. Many instances like this happen in the stock market. It pays to think for yourself.
abb (Wed Jul 26 19100 6:19 IST)
who are "they" ?
Mr Ramesh Damani (Wed Jul 26 19100 6:20 IST)
abb - no names. this is a public medium and we should be careful.
Rinku (Wed Jul 26 19100 6:20 IST)
Example yesterday also?
Mr Ramesh Damani (Wed Jul 26 19100 6:22 IST)
Rinku- ditto. But look for the bigger plays. Not the short term blips. If you catch one or two you are made. Have you shorted anything ?
rama rao (Wed Jul 26 19100 6:22 IST)
i bought shares in indian shaving at Rs 1000 each . should i hold or sell
Mr Ramesh Damani (Wed Jul 26 19100 6:23 IST)
Rama - hold them . Its a good franchise stocks.
ajantamullick (Wed Jul 26 19100 6:22 IST)
i am a new buyer what share should i buy now
Mr Ramesh Damani (Wed Jul 26 19100 6:24 IST)
ajanta - buy a company u know of like Nestle, Lever or Colgate. If you work in tech buy a tech company. This will give you some comfort.
abb (Wed Jul 26 19100 6:21 IST)
ok... what's the reason you see for their selling? does infy valuation look stretched even now? or what?
Mr Ramesh Damani (Wed Jul 26 19100 6:24 IST)
abb - infy looks good to me. Might have to hold it for 6-12 months though.
Mr Ramesh Damani (Wed Jul 26 19100 6:25 IST)
thanks for joining in. Have a prosperous week. Good bye.
Money
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