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'Futures and options are risky''In a bull market, all prices rise and in a bear market, it's the reverse. The trick is to get out of stocks when you believe the bull market is over -- all stocks,' says Ramesh Shrichand Damani.rashmi : this is rashmi mohta from calcutta rashmi : how can we trade in options and futures. what r the things we should know. Ramesh Shrichand Damani : hi Rashmi. Thanks for joining in. Futures and Options are derivative products. They derive value from the stock and and are synthetic products created by the financial market not issued by a company. They are traded and standardised. You need to contact a broker for details. They are very risky instruments. Meant only for professionals. So be careful. qnasikwala : dear sir what's your opinion about zee i purchase zee@99 Ramesh Shrichand Damani : it had a good rally today. It's hard to see it regaining its formal glory. Vikram : Hello Ramesh-Any news on Nalco disinvestment and how is Hindalco looking from an investment perspective of 2 yrs?? It is quoting at Rs. 706 Ramesh Shrichand Damani : No specific news. I don't think it (Nalco) will be done this fiscal. Hindalco is a good defensive bet. Vikram : Currently I'm holding Cipla & Ranbaxy. If I want to increase exposure to pharma stocks would you recommend MNC stocks like Glaxo, Pfizer or stick to top Indian companies, primary concern being companies with good growth & profitability Ramesh Shrichand Damani : A friend of mine bought Pfizer. I am generally under-researched in Pharma Vikram : You had said that Dr Reddy's could lead the next bull rally-which other sectors should one look at for winners in 2002 and 2003?? Ramesh Shrichand Damani : I have said IT enabled is a promising sector. Maybe even PSU. Don't laugh. In a market you have to beat a price Ganesh : Is there any possibility of HCL Tech going below 200? Ramesh Shrichand Damani : It could. It's market cap is still $ 1.5 billion. That is a lot. Also the numbers are great but can it last? Ganesh : Is MTNL worth at current price of 120? What about VSNL? Ramesh Shrichand Damani : i think it is a dead stock currently. No excitement prashant : Hello Mr Damani, You r among several expert I have seen on the T.V My question not about any specific stock but a rather general question. here it is: When Sensex was at its peak not many months ago, I heard you including other Experts on a TV channel regarding ur favourite buys. I don't rememeber if more sales were prescribed. Now also specialists like you are only prescribing "Buys" When will the time when you people will also prescribe Sale advice as often as you people advice gullible masses Buy advice Ramesh Shrichand Damani : You have a thoughtful question. Short sales are typically from professional traders. Besides regulatory authorities frown on shortselling. It is best done if at all privately. I have made wrong picks but if you look at the CNBC tapes for Feb/Mar/Apr 2000, I believe I was bearish on TV prashant : Thanks four answer Mr Damani but I was not asking regarding a Short Slae advice. I was saying that like every other things a stock price also has a cycle. The person who purchase at the lower cycle and sale at higher wins. But specialist like you in my opinion are telling people only about buys that too more often without telling him where is the Stock in its price cycle What do you say?This is just a frank discussion. Please don't mind the language Ramesh Shrichand Damani : The only cycle that works is a Bull Market and Bear Market cycle. In a Bull Market, all prices rise. See the Advance-decline line. Reverse in a bear market. The trick is to get out of stocks when you believe the bull market is over -- all stocks viola : Good afternoon Mr Damani. Do you recommend long term investors to buy at current levels? Ramesh Shrichand Damani : if you believe in your company it is a good time. It is silly what the market is going through. KALYANARAMAN : TODAY A HYDERABAD based copperative bank has gone bust..may be another bail out...what i dont understand is that what is the problem for the govt in selling the assets of the defaulting customers and raise cash rather than bailing out...unless the bjp also is hand in glove with defaulters Ramesh Shrichand Damani : Sometimes the problem is the govt. san : What should one do regarding Reliance Industries HOLD/BUY/SELL?? Ramesh Shrichand Damani : UTI holding will give an overhang to any price rise. Vikram : I have been trading thru a broker but have an HDFC demat account. Is it cheaper & safer to trade with HDFC Securities instead of an outside broker? Ramesh Shrichand Damani : it may be safer because of HDFC is an institution. seshu : sir i am seshu from hyderabad do you think software sector is going to come back to limelight again Ramesh Shrichand Damani : I am sure it will. This is going to be a digital economy. Which stocks benefit is another question. manoj : how can a person enter stock market without studying commerce Ramesh Shrichand Damani : Absolutely. sharad : Do u think we are sitting on a tinder box and one more KP Or HM thing will happen Ramesh Shrichand Damani : No what we are sitting on is multiple UTIs. The state of our financial institutions is appalling. hitbybear : the Petroleum minister is reported to have said that the disinvestment in HPCL, BPCL, ONGC and IOC shall not be made. how will this affect the price and market sentiment especially with IBP disinvestment at the door steps.??? Ramesh Shrichand Damani : Badly. Market does not value PSU stocks. seshu : thanx for reply sir .what is the meaning of some share quoted as A share and some are other can you plz explain Ramesh Shrichand Damani : A stands for A group. Like Infy and Satyam. They are broadly held and better traded. B group are more ill-liquid. kalyanaraman. : its nice to hear from your reply that software sector is going to come back to limelight...when NASDAQ was at its peak, many experts (including HARVARD) in america were telling that for technology stocks, PE theory is not applicable and free cash flow analysis is the relevent one...whats you view ? Ramesh Shrichand Damani : They all look foolish. Warren Buffett proposed to ask MBA Students to explain Internet Valuations. Anyone who gave an answer would fail. seshu : how do i calculate the value of a share by seeing the rates in BSE Ramesh Shrichand Damani : The rate is the price of the share. Bid is the buy price. Offer is the sell price. ankush : hello mr. damani, could you please throw some light on the current stock position of "silverline technologies" ? Ramesh Shrichand Damani : I would avoid it. The US slowdown has devastated these cos. Vikram : With more financial crises expected we should not expect a big rise in the sensex in near future - I would tend to increase my fixed income investments!! Ramesh Shrichand Damani : Good idea. Keep it in Fixed Deposits and not gilt funds or debt funds. mohansingh : good afternoon i am fr chandigarh pl tell me what is the suitable time to sell modi rubber Ramesh Shrichand Damani : the current time seems good. Particularly in the open offer Spoorti : Ramesh, At what price I can buy HLL for long term? Ramesh Shrichand Damani : Around 175 is the previous bottom. Take a look at that time seshu : what is illliquid as u mentioned in your reply about B group shares Ramesh Shrichand Damani : Volumes are poor. It is sometimes hard to buy or sell a reasonable qty. dhananjay : With the way some brokers behaved about the badla issue, one gets the impression that brokers feel that SEs are meant for them, and not that SEs are just a market facilitator. Your comments please, and thoughts on how an attitudinal change bringing in a modicum of ethics & more transparency ? Ramesh Shrichand Damani : I am a broker. I still don't understand the fuss about badla. If peple misused it fine them, punish them. Why through the baby with the bathwater. AMRITLALSHAHKNL : good afternoon Mr.Damani, what are your views about the recently announced telco rights issue Ramesh Shrichand Damani : I would not subscribe to it. Mr Tata needs to apologise to his shareholers. They have suffered enough. Not give him more money. mohansingh : sir, modi rubber is offering rate 90/- whereas mkt rate 55/- pl tell us how we sale shares in offering prise of modi rubber Ramesh Shrichand Damani : The offer has closed. You should have got a offer form. Check your mail AMRITLALSHAHKNL : what are your present views on the tata group as a whole after the problem they had to face in TFL? Ramesh Shrichand Damani : i bought some Indian Hotels recently. Mgmt has failed to deliver. The group is in trouble. atul : shipping corp of india performs so well financially then why the stock is under valued Ramesh Shrichand Damani : because it is a PSU Vikram : What do you think of Tata Power's quest for Dabhol Power? Ramesh Shrichand Damani : Another boondoggle. Concentrate on what you have. kalyanaraman. : ITS nice that you had told correctly that dr reddy may be the new leader in a bull market when the price was around rs 1600- .whoever acted on your advise would have made a good profit..thanks on behalf of investors/traders ,though i did not make even rs 1 in dr reddy. does the management have a good reputation (say) like infosys ? Ramesh Shrichand Damani : It does. They are doing good work. I don't know them personally. No credit to me on Dr Reddy. It was just an observation. AMRITLALSHAHKNL : what in your view, an average shareholder should invest in as of now after seeing the tech stocks going overboard and other economy stocks also not performing so well, and what are other avenues of investment for middle income groups what with the bank deposits also becoming not so safe and what with tds and all? Ramesh Shrichand Damani : It's hard to answer that quesiton without specific background. Generally, you should put some money in equities. Vikrant : What do I do with my TV 18 shares? Ramesh Shrichand Damani : It is fairly cheap at current levels ketanparekh : what about HFCL Ramesh Shrichand Damani : avoid it. manish : what about vsnl Ramesh Shrichand Damani : I bought some, It looks good at current prices. ketanparekh : Don't you think SEBI should come out with an IPO Ramesh Shrichand Damani : That is an interesting thought. Stockholder1 : what about alfa laval buy back offer at 164 (current price around 150)? should i sell all? or hold ? Ramesh Shrichand Damani : Sell in buyback i think. jmehta : how does the market look like from now with 3 months horizon Ramesh Shrichand Damani : after parlianment closes i am expecting some sops. Market could rally. However the picture is still bleak. rishi : What is the future of Silverline now? Ramesh Shrichand Damani : cloudy at best. Vikram : Is ITC getting into the right areas for growth-I mean is their strategy a good one? Ramesh Shrichand Damani : They have a cash flow of Rs 1000 crore a year. That makes them an impressive candidate. stockking : Ramesh will u please tell me where should I invest nowadays safely? Ramesh Shrichand Damani : No easy answers. Good investments have risk. Safe investments have no returns. Satish : Is it ok to sell the shares of HFCL now or we need to wait still longer Ramesh Shrichand Damani : you don't need my permission to sell. ketanparekh : Can you recommend few scrips at current level to earn dividend @ 10% return Ramesh Shrichand Damani : i bought 2 small caps like Zodiac Clothing and Gati. Yield is 9-10%. I like the businesses sam : How about buying US64 at 9.00 at NSE and selling 3000 at 10.00 Ramesh Shrichand Damani : just do the selling part. balan : what's on zee? Ramesh Shrichand Damani : Not at the current time, they do have valuable assets. hitbybear : can u recommend scrips with dividend yield of 12% or more at current levels Ramesh Shrichand Damani : vsnl. rishi : Having purchased at 320 what to do of silverline Ramesh Shrichand Damani : I would avoid it. ketanparekh : WHEN bse WILL BE CORPORATISED Ramesh Shrichand Damani : sebi is meeting today to discuss it Sankita : Can I buy Satyam at current cost? Ramesh Shrichand Damani : trade in it not invest at current time. ketanparekh : SO HOW CAN I BUY SHARES OF BSE LIMITED Ramesh Shrichand Damani : too early. Wait. ankush : u haven't replied my query regarding the Reliance petro shares ? will it grow in near future? Ramesh Shrichand Damani : its market cap makes it expensive for a petrochem stock. Sankita : Ramesh u r encouraging a small investor to trade when I prefer being a long term investor ? Ramesh Shrichand Damani : Not really. just strategy for stocks. www : Is it right time to exit Wipro? Ramesh Shrichand Damani : it remains a leader. can't say for sure. However it is time for me to exit. Thanks and Bye Join the Ramesh S Damani chat every Tuesday at 1600 IST. ALSO SEE:
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