|
Buying
in PSU and old economy stocks lifted the benchmark at BSE
Sensex to a high of 3,652.76 on 19th February. However, profit
booking at these levels by Indian institutions on the PSU
sector eroded the gains with the index touching an intra-day
low of 3,542.06 the next day. Incidentally, the weakness reflected
by the NASDAQ did not go well with Indian IT stocks, as they
remained subdued and traded listlessly. Second rung tech counters
however, outperformed frontline infotech stocks.
Technically, the recent correction is healthy for the markets
and augurs well for the near future perhaps post-budget. Although,
the markets continue to display bullish signals, the BSE Sensex
has given a minor divergence on the daily charts and there
is every possibility of another correction of around 100 points,
which could take the markets below the 3,500 level. This could
happen after a brief rally but before the announcement of
the budget, since the weekly charts continue to emit bullish
signals. Infotech counters are likely to remain volatile in
the coming days.
CMC
The consolidation phase for the stock continued during the
course of the week. It moved in a range of Rs 30, touching
an intra-day high of Rs 395 on 18th February and an intra-day
low of Rs 365.20 on 20th February. The stock could see a fall
during this consolidation phase. On the downside, its minor
and major support levels are placed at Rs 288 and Rs 207.
Digital Globalsoft
As indicated last week, the Digital stock moved southwards
touching an intra-day low of Rs 565.10 on 20th February. The
stock continues to display weakness on the daily and weekly
charts and we could see a fall of Rs 200 or more in the near
future. Though the initial fall may not be sharp, it should
gather momentum later.
HCL Technologies
Persistent weakness on the HCL stock has taken it below the
200 day moving average, as we had indicated in our last issue.
The general weakness on the NASDAQ and resultant weakness
on Indian IT stocks has taken a toll on this stock too. The
stock could see a further downfall and should find support
at the Rs 221 level.
Infosys
As indicated, the correction continued on the stock and it
could fall below its 200-day moving average in the next few
trading sessions. It moved in a narrow range of Rs 207, touching
an intra-day high of Rs 3,818 and low of Rs 3,611. The downfall
in the Infosys stock will continue and we could see a fall
of Rs 500-800 in the near future. The stock could find support
at the Rs 3,228 or Rs 2,785 levels before turning bullish
again.
NIIT
The sideways movement continued on the NIIT stock during the
course of this week. The stock moved in a narrow range of
Rs 21.05 touching an intra-day high of Rs 247.70 and intra-day
low of Rs 226.65. The stock is on the threshold of moving
above its 200-day moving average, and any closing above this
level should result in a sharp rally on the counter.
Satyam Computers
The Satyam stock remained subdued after last week’s firmness.
The stock moved in a very narrow range of Rs 15.15 during
the course of the week. It touched an intra-day high of Rs
292.15 and an intra-day low of Rs 277. The stock is showing
signs of exhaustion and needs a trigger for an uptrend. Till
such time, the stock is likely to move in a narrow range.
Wipro
The stock continued to move in a narrow band of Rs 90 after
touching an intra-day high of Rs 1,699 on 19th February and
intra-day low of Rs 1,608.35 on 20th February. This movement
is likely to continue in the near future and the stock will
remain range-bound.
Nasdaq
The
NASDAQ continues to stay below its 200 day moving average,
reflecting signs of weakness on fresh worries of ‘earnings
warnings’. It is most likely to find support at 1,706.
As we had indicated, it is important that it moves above the
1970 level to show any change in its trend. Till this level
is attained, the NASDAQ will move in range-bound manner.
|
STRATSTAR
FUND WIZARD
|
|
BUY/SELL
REPORT FOR 25/02/2002
|
|
Scrip
|
Current
Signal
|
Last
Signal
|
Open
Position
|
Rise/
Profit
|
Stop
Loss
|
Remark
|
| Indices
|
Date
|
Price
|
Indicator
|
Date
|
Price
|
Indicator
|
|
(%)
|
|
|
|
BSE
SENSEX
|
22/02/2002
|
3604.08
|
|
8/1/02
|
3437.78
|
BUY
|
166.3
|
|
3430.64
|
|
|
S&P
CNX NIFTY
|
22/02/2002
|
1163.5
|
|
27/12/2001
|
1020
|
BUY
|
143.5
|
14.07
|
1103.55
|
(r)
|
|
NASDAQ
|
21/02/2002
|
1716.24
|
|
18/01/2002
|
1930.34
|
SELL
|
214.1
|
11.09
|
1914.67
|
(r)
|
|
Infotech
Stocks
|
|
|
|
|
|
|
|
|
|
|
|
CMC
|
22/02/2002
|
367.1
|
|
19/02/2002
|
374.4
|
SELL
|
7.3
|
|
382.98
|
|
|
DIGITAL
EQUIP.
|
22/02/2002
|
565.25
|
|
19/02/2002
|
574.15
|
SELL
|
8.9
|
|
583.45
|
|
|
DSQ
SOFTWARE
|
22/02/2002
|
42.1
|
|
8/1/02
|
57.4
|
SELL
|
15.3
|
26.66
|
50.14
|
(r)(r)
|
|
HCL
INFOSYSTEMS
|
22/02/2002
|
112.4
|
|
14/02/2002
|
109.35
|
BUY
|
3.05
|
|
96.79
|
|
|
HCL
TECHNOLOGIES
|
22/02/2002
|
255.65
|
|
20/02/2002
|
254.9
|
SELL
|
-0.75
|
|
263.21
|
|
|
HUGHES
SOFTWARE
|
22/02/2002
|
346.95
|
|
31/12/2001
|
293.3
|
BUY
|
53.65
|
18.29
|
320.65
|
(r)
|
|
INFOSYS
TECH.
|
22/02/2002
|
3717.15
|
|
19/02/2002
|
3701.9
|
SELL
|
-15.25
|
|
3746.15
|
|
|
MASTEK
|
22/02/2002
|
300.45
|
|
8/2/02
|
266.05
|
BUY
|
34.4
|
12.93
|
283.27
|
(r)
|
|
NIIT
|
22/02/2002
|
229.75
|
|
12/2/02
|
234.65
|
BUY
|
-4.9
|
|
232.89
|
|
|
PENTAFOUR
SOFTWARE
|
22/02/2002
|
62.3
|
|
20/02/2002
|
62.55
|
SELL
|
0.25
|
|
65.17
|
|
|
POLARIS
SOFTWARE
|
22/02/2002
|
188.5
|
|
21/02/2002
|
190
|
SELL
|
1.5
|
|
192.74
|
|
|
PSI
DATASYSTEMS
|
22/02/2002
|
109.65
|
|
5/2/02
|
117.95
|
SELL
|
8.3
|
|
118.3
|
|
|
ROLTA
|
22/02/2002
|
104.9
|
|
7/2/02
|
110.95
|
SELL
|
6.05
|
|
110.44
|
|
|
SATYAM
COMPUTERS
|
22/02/2002
|
278.05
|
|
15/11/2001
|
177.5
|
BUY
|
100.55
|
56.65
|
265.46
|
(r)(r)(r)(r)(r)
|
|
SILVERLINE
INDUSTRIE
|
22/02/2002
|
57.95
|
|
24/01/2002
|
62.1
|
SELL
|
4.15
|
|
57.58
|
|
|
SONATA
SOFTWARE
|
22/02/2002
|
13.1
|
|
11/1/02
|
15.1
|
SELL
|
2
|
13.25
|
14.66
|
(r)
|
|
SSI
|
22/02/2002
|
203.5
|
|
6/2/02
|
221.7
|
BUY
|
-18.2
|
|
203.35
|
|
|
TATA
ELXSI
|
22/02/2002
|
84.8
|
|
6/2/02
|
63.7
|
BUY
|
21.1
|
33.12
|
68.47
|
(r)(r)(r)
|
|
WIPRO
|
22/02/2002
|
1650.7
|
BUY
|
21/02/2002
|
1614.15
|
SELL
|
-36.55
|
|
1632.23
|
WHIPSAW
|
|
Note
: The above stock picks based purely on Technical Analysis
are generated by Stratstar Systems’ Genius Trader, India’s
First Automated Trading System and have proved consistently
and considerably reliable. This is perhaps the only trading
system in the world that on the basis of more than 18,600
mathematical formulae, can not only identify primary trends,
but also market cycles and automatically switch into tandem
when trend changes occur, recomputing calculations to finally
generate, what could be simply identified as ‘BUY’ or ‘SELL’
signals. Importantly, unlike other available software that
allow applicability of a host of technical studies and tools,
but depends on an analyst for interpretation STRATSTAR comes
with a feature that self interprets and reflects the final
interpretation to be acted upon. Stratstar Systems does not
accept responsibility for any investment decisions taken on
the basis of information provided herein. The objective is
to keep investors better informed and help decide for themselves
as the information given above is only of an advisory nature.
|
