'We are seeing a technical rally'
Ramesh S Damani says the market lacks a consensus on future direction.
Mr Ramesh Damani (Wed Jun 7 19100 5:54 IST)
Hello everyone - thanks for joining in let's start.
deepa (Wed Jun 7 19100 5:52 IST)
hi mr damani! i want to know whether indogulf deals in the same copper as sterlite and if yes why is it hovering at 40+ rates while sterlite is performing so well
Mr Ramesh Damani (Wed Jun 7 19100 5:55 IST)
Deepa- sterlite is diversified. Its optical fibre business is doing well. That may explain the difference.
Mr Ramesh Damani (Wed Jun 7 19100 5:57 IST)
deepa - Like a lot of old economy stocks IGF has been taking it on the chin. Sentiment must revive for it to do well
Jajabor (Wed Jun 7 19100 5:55 IST)
HI Mr. Damani how fast r wipro shares expected to rally upwards. I purchased some shares at an average price of 3300/- approx. I mean how long will it take to go past that
Mr Ramesh Damani (Wed Jun 7 19100 5:56 IST)
jajabor - wipro is pretty expensive at 3300. It may take some time to reach the level.
abhi (Wed Jun 7 19100 5:57 IST)
are we in a bull market again mr damani?
Mr Ramesh Damani (Wed Jun 7 19100 5:58 IST)
abhi - i doubt it. We are seeing a technical rally.
rajda (Wed Jun 7 19100 5:55 IST)
why was the market so volatile today?
Mr Ramesh Damani (Wed Jun 7 19100 5:59 IST)
rajda - market has been that volatile for last few months. I agree it is too volatile. A lack of consensus on future direction -- that's why.
solo (Wed Jun 7 19100 5:58 IST)
what is your view on himachal. it is trading higher than global nowadays.
Mr Ramesh Damani (Wed Jun 7 19100 5:59 IST)
solo - i would sell Himachal in this rally.
deepa (Wed Jun 7 19100 5:59 IST)
any good suggestions u can give for some cheap software stocks
Mr Ramesh Damani (Wed Jun 7 19100 6:0 IST)
deepa - wait to buy software stocks. Let the NASDAQ stabilise.
RAHULGI (Wed Jun 7 19100 5:59 IST)
BOMBAY DYEING OR BOMBAY REBIRTH ---- BOOK VALUE OF ~~160—RUMOUR OF "IT" PLAY IN IT ---IS IT A BUY??
Mr Ramesh Damani (Wed Jun 7 19100 6:0 IST)
Rahulji - I have not heard too many good things on Bombay Dyeing.
deepa (Wed Jun 7 19100 6:0 IST)
can u incr your time from 1/2 hr to lets say an hour or so
Mr Ramesh Damani (Wed Jun 7 19100 6:1 IST)
deepa - maybe or maybe I can do it twice a week.
RAHULGI (Wed Jun 7 19100 6:1 IST)
I WANT TO BUY 1000 SHARES ---I HAVE KEPT RS 1 LAKH ASIDE FOR THOSE SHARES------MY PICK SHOULD BE--------??????? ONE MONTH INVESTMENT ///// OBVIOUSLY A SCRIPT =< Rs 100
Mr Ramesh Damani (Wed Jun 7 19100 6:3 IST)
Rahul - have a time frame of 2-3 years. You should be happy if it doubles in 2-3 years. Try Birla 3M around Rs 500, Marico at 225 for good stable investments.
solo (Wed Jun 7 19100 6:8 IST)
what about himachal. it is trading higher than global nowadays.
deepa (Wed Jun 7 19100 5:55 IST)
also pls let me know if bongaingoan refineries is looking into disinvt and what r its prospects i have purchased at 11.50
Mr Ramesh Damani (Wed Jun 7 19100 6:4 IST)
deepa - Mr naik has been against disinvestment of oil sector. It will take some time.
vidya (Wed Jun 7 19100 6:2 IST)
what do you think about SSI sir?
Mr Ramesh Damani (Wed Jun 7 19100 6:4 IST)
vidya - I like SSI. It has had a good run 1500-3000. I would buy on a general pullback.
deepa (Wed Jun 7 19100 6:5 IST)
is bongaingoan a good invt at 11.50
Mr Ramesh Damani (Wed Jun 7 19100 6:5 IST)
deepa - I have told you all I know on Bongaingoan.
RAHULGI (Wed Jun 7 19100 6:4 IST)
IPCL RESULTS WERE DECLARED TODAY ----NP 189 VS NP 29CR---EPS 7.8 FY2000 ----VIEWS???
Mr Ramesh Damani (Wed Jun 7 19100 6:6 IST)
Rahulji - IPCL is a good trading bet with a "potential" disinvestment.
arvind (Wed Jun 7 19100 6:1 IST)
Wipro shares as you know are available only to the extent of 15% in the market. In fact, with this low percentage, that company should be delisted. It would be inappropriate to see any upward change in the price now. It touched almost Rs.10,000 once and I do not think this is reflected as a correct price in terms of the results. Wipro was not that sound company (bricks and mortar) except due to its IT business. I feel, the rate of Rs 10,000 would never touch in future. What happens to the employees who have been granted ESOPS and considered themselves millionaires and now they find that they are not even worth lakhpatis. What have you to say about it?
Mr Ramesh Damani (Wed Jun 7 19100 6:7 IST)
arvind - I agree WIPRO is unlikely in next three years to reach 10,000. Employees were given ESOPs at very low levels. So not to worry.
RAHULGI (Wed Jun 7 19100 6:6 IST)
TATA ELXSI----IS IT GOING TO BENEFIT FROM "BIRLA=AT&T=TATA" MERGER??
RAHULGI (Wed Jun 7 19100 6:8 IST)
TATA ELXSI=TODAY THE VOL WERE 9 LAKHS-- FOR THE FIRST TIME ABOVE 7.5 LAKHS
Mr Ramesh Damani (Wed Jun 7 19100 6:8 IST)
Rahulji - not directly but maybe a stock to keep an eye upon. Tata Elxsi
deepa (Wed Jun 7 19100 6:8 IST)
any comments on llyods steel, metazinc, ganesh benzoplast, denso india in long run for about 6 mts from now
Mr Ramesh Damani (Wed Jun 7 19100 6:8 IST)
Deepa - I like denso. They have a 100% subsidary so that is worrying.
deepa (Wed Jun 7 19100 6:9 IST)
any comment on agrevo at 600+ levels i bought. when is it expected to touch these levels again
Mr Ramesh Damani (Wed Jun 7 19100 6:9 IST)
Deepa - Agrevo is now Aventis. It should get back to that level in a 12-18 months time.
RAHULGI (Wed Jun 7 19100 6:9 IST)
TATA TEA ------WHEN R ITS FY2000 RESULTS DUE???? IS IT A BUY ???
Mr Ramesh Damani (Wed Jun 7 19100 6:10 IST)
Rahulji - I own some TATA TEA. It's a good stock for stable portfolios.
RAHULGI (Wed Jun 7 19100 6:11 IST)
BHARAT FORGE----WHAT IS THE UPSIDE ??--WITH NO DELIVERY NEARING !!!
Mr Ramesh Damani (Wed Jun 7 19100 6:12 IST)
Rahulji - company is doing well. They are building global capacities. Keep an eye on it.
vidya (Wed Jun 7 19100 6:13 IST)
do you think there will be a downward correction in the mkt from current levels?
Mr Ramesh Damani (Wed Jun 7 19100 6:14 IST)
vidya - yes if NASDAQ goes down. However i think we will delink at some time.
RAHULGI (Wed Jun 7 19100 6:14 IST)
ICICI—IS IT A BUY?? ANY STOP LOSS?? TARGET OF ~~210 BY MORGAN STANLEY!!
Mr Ramesh Damani (Wed Jun 7 19100 6:16 IST)
Rahulji - I have a lot of respect for K V Kamath. He will deliver for shareholders. I would buy ICICI Bank though
RAHULGI (Wed Jun 7 19100 6:15 IST)
A BIOTECH PICK --PL.???
Mr Ramesh Damani (Wed Jun 7 19100 6:17 IST)
Rahulj - the two, not pure plays though, are Aventis and Monsanto.
deepa (Wed Jun 7 19100 6:14 IST)
CAN U PLS TELL ME IF AGREVO INDIA NAME HAS CHANGED TO AVENTIS OT NOT
Mr Ramesh Damani (Wed Jun 7 19100 6:18 IST)
deepa - it has been changed to AVENTIS.
prakash (Wed Jun 7 19100 6:18 IST)
what do you think about the current market it is doing bottoms up but can the rally continue ??? i expect selling to come by fri
Mr Ramesh Damani (Wed Jun 7 19100 6:19 IST)
prakash - market is extremely nervous and still NASDAQ driven. It has had its dead cat bounce. I would be very careful. Breadth has been spotty.
RAHULGI (Wed Jun 7 19100 6:19 IST)
MTNL—TRADING BUY OR ACCUMULATE
Mr Ramesh Damani (Wed Jun 7 19100 6:20 IST)
Rahulji - A FII was a major seller. Stock is holding. I would still wait for the NYSE Listing.
RAHULGI (Wed Jun 7 19100 6:20 IST)
RELIANCE WHEN SHOULD I BUY THIS--IS IT A LONG TERM BUY OR TRADING BUY??
Mr Ramesh Damani (Wed Jun 7 19100 6:21 IST)
Rahulji - I do not like Reliance for investment.
prakash (Wed Jun 7 19100 6:21 IST)
DO I SELL INFY AT AROUND 8050?? WHAT ABOUT MELSTAR ITS DOING 12% EVERYDAY
Mr Ramesh Damani (Wed Jun 7 19100 6:22 IST)
Prakash - Infy will have an excellent quarter and year. Valuation will depend on NASDAQ. Full year expect 550 cr. NP
suresh (Wed Jun 7 19100 6:20 IST)
WHAT ARE YOUR TOP THREE PICKS WITH PRICE TARGETS PLEASE....
Mr Ramesh Damani (Wed Jun 7 19100 6:24 IST)
suresh - not top three but good values in non-IT are Indian Hotel, Birla 3M and Procter and Gamble. 12-18 months out they are all good values.
RAHULGI (Wed Jun 7 19100 6:24 IST)
TISCO ---VIEWS//ND (no delivery) FROM NEXT WEEK
Mr Ramesh Damani (Wed Jun 7 19100 6:24 IST)
Rahulji - I am not bullish on TISCO
prakash (Wed Jun 7 19100 6:23 IST)
ISNT OUR MARKET A TRADERS' MARKET THEN??
Mr Ramesh Damani (Wed Jun 7 19100 6:25 IST)
Praksh - Traders' paradise. But remember over a period of time investors take home the money. Not traders. Be patient and buy with conviction.
prakash (Wed Jun 7 19100 6:24 IST)
ONE OF UR PICKS ABB IS ON AN FIIS BUY LIST NOW DO WE BUY AT THESE PRICES .,,
Mr Ramesh Damani (Wed Jun 7 19100 6:27 IST)
prakash - I would buy ABB at current levels. Expect 20-25% compounded growth.
suresh (Wed Jun 7 19100 6:25 IST)
DAMANI SAHEB. WHAT ARE YOUR TOP THREE BUYS. ARRE KUCH TO FAYDA TO KARAO
Mr Ramesh Damani (Wed Jun 7 19100 6:27 IST)
Suresh - I have listed my three picks.
prakash (Wed Jun 7 19100 6:26 IST)
nowadays ur sightings on CNBC HAVE ALSO BECOME RARE ..DO U HAVE UR OWN WEBSITE ..N PLEASE GIVE UR URL
Mr Ramesh Damani (Wed Jun 7 19100 6:28 IST)
Prakash - will be on CNBC tomorrow at 10 am. My website rsdfinance.com is under construction.
deepa (Wed Jun 7 19100 6:26 IST)
WHAT ABOUT MTNL AT 255 IS IT EXPECTED TO CROSS 300 LIKE LAST YEAR
Mr Ramesh Damani (Wed Jun 7 19100 6:28 IST)
deepa - MTNL is 180. I think it will test 300 again sometime this year.
jajabor (Wed Jun 7 19100 6:27 IST)
What about IOCL shares? Is it expected to touch around 200 in near future
Mr Ramesh Damani (Wed Jun 7 19100 6:29 IST)
jajabor - avoid IOCL.
suresh (Wed Jun 7 19100 6:29 IST)
THANKS. HOPEFULLY I WILL MAKE SOME MONEY AT LAST IN THE MARKET. SOFTWARE NE TO MAAR DALA.
Mr Ramesh Damani (Wed Jun 7 19100 6:30 IST)
suresh - good luck. let me know how it turns out.
prakash (Wed Jun 7 19100 6:30 IST)
WHAT R UR BEST BUYS THEN??? SECONDLY DO I HOLD ONTO IPO STOCKS IN B GROUP
Mr Ramesh Damani (Wed Jun 7 19100 6:31 IST)
prakash - see earlier chat lines. IPO decide on a case by case basis.
deepa (Wed Jun 7 19100 6:30 IST)
WHAT DO U FEEL ON GAIL.WILL IT TOUCH 200 LEVELS AGAIN
Mr Ramesh Damani (Wed Jun 7 19100 6:31 IST)
deepa - I like GAIL. It has a sexy telecom story.
jajabor (Wed Jun 7 19100 6:31 IST)
Sir how soon do u expect Satyam to touch around 5500 mark
Mr Ramesh Damani (Wed Jun 7 19100 6:32 IST)
jajbor - I do not think Satyam will touch 5500 soon.
RAHULGI (Wed Jun 7 19100 6:32 IST)
HPCL ==="IT" STORY IN IT??
Mr Ramesh Damani (Wed Jun 7 19100 6:33 IST)
Rahulji - HPCL is good if disinvested not for IT. Thanks for joining in. Have a prosperous week. See you next week.
Money
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