|
Sentiment
continued to remain lacklustre on the bourses amidst low volumes
as FIIs and mutual funds stayed away from the markets ahead
of year-end considerations and also due to festive holidays
during the course of the week. Traders and speculators also
abstained from building large speculative positions ahead
of the festive holidays. The vote on the POTO bill on March
26 also added to the nervousness. Except for a few mutual
funds who were seen buying into select counters to perk up
their sagging NAVs, there was no active participation by other
market participants. Stock specific action on the side counters
continued as punters were seen fishing for value picks.
Technically, the markets will continue to remain lacklustre.
The change in the rolling settlement cycle, from T+5 to T+3,
from April 1 will again reduce volumes on the bourses temporarily,
as market participants would have to arrange for funds or
delivery quickly. The forthcoming Q4 results would impact
the future course of markets, especially the frontline infotech
stocks. Punters would wait for the declaration of these results
before increasing their speculative positions in these sectoral
stocks. Till then nervousness would prevail on the markets
for these stocks and we could see subdued movement.
CMC
The consolidation phase for the CMC stock has ended. As we
had indicated in our last issue, the stock has successfully
moved above the Rs 415 level to touch an intra-day high of
Rs 449 on March 27 and on the lower side it has touched an
intra-day low of Rs 371.10 on March 26. The rally in the stock
has been due to the announcement by the management that profit
margins will jump by 20 percent. The stock has also been buzzing
on the rumours of a merger with TCS over the last couple of
days. It seems unlikely that the Tatas would like to merge
CMC with TCS while the government has a stake in the stock.
With occasional bouts of correction, the stock is likely to
continue with the upward rally, unless it falters in its Q4
results.
Digital Globalsoft
The ongoing volatility in the stock due to HP-Compaq merger
has cooled down. The stock has moved in a narrow range of
Rs 18.40, touching an intra-day high of Rs 562 on March 27
and an intra-day low of Rs 543.60 on March 26. The stock has
been finding support at lower levels despite it emitting bearish
signals, and the fall will gather momentum only if it falls
below the Rs 523.80 level.
HCL Technologies
The stock continued to correct itself amidst lacklustre movement,
moving in a range of Rs 14, touching an intra-day high of
Rs 274 on March 26 and an intra-day low of Rs 260 on March
27. The market continues to be nervous about the stock due
to the impending Q4 results, and the stock could continue
its downward journey. The only saving grace for the stock
has been that it has been falling on low volumes.
Infosys
The bellwether infotech stock was unable to sustain itself
at the Rs 3,759 level and has fallen below this level. The
stock has moved in a range of Rs 353.90, touching an intra-day
high of Rs 4,000 on March 27 and an intra-day low of Rs 3,646.10
on March 26.
The markets are nervous before the declaration of its Q4 results
to be declared by the company early next month. The weak sentiment
will prevail on the stock till the results are announced and
the same would not only decide its own fate but also of the
other infotech stocks temporarily till their results are announced.
The stock will continue to slide further with occasional bouts
of rallying till a positive signal emerges from the results
or from the management.
|
Nasdaq
|
| The
benchmark index for tech stocks world over has been falling
on earnings warnings by a few tech companies. The nervousness
continues to prevail in the US markets over tech stocks
and we could see it sliding further in the event that
the quarterly results to be declared by US infotech companies
are not in line with market expectations. The index continues
to be below its 200-day moving average and could find
support at the 1,715 level, till a clear-cut trend emerges. |
 |
|
STRATSTAR
FUND WIZARD
|
|
BUY/SELL
REPORT FOR 01/04/2002
|
|
Scrip
|
Current
Signal
|
Last
Signal
|
|
|
|
|
|
|
Date
|
Price
|
Indicator
|
Date
|
Price
|
Indicator
|
Open
Position
|
Rise
/ Profit (%)
|
Stop
Loss
|
Remark
|
|
Indices
|
|
|
|
|
|
|
|
|
|
|
|
BSE
SENSEX
|
28/03/02
|
3472.52
|
|
26/03/02
|
3466.29
|
SELL
|
-6.23
|
|
3591.82
|
|
|
S&P
CNX NIFTY
|
28/03/02
|
1129.55
|
|
27/12/01
|
1020
|
BUY
|
109.55
|
11.61
|
1142.52
|
®
|
|
NASDAQ
|
27/03/02
|
1826.75
|
|
18/01/02
|
1930.34
|
SELL
|
103.59
|
|
1829.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Infotech
Stocks
|
|
|
|
|
|
|
|
|
|
|
|
CMC
|
3/28/02
|
543.6
|
|
3/21/02
|
380.95
|
BUY
|
162.65
|
42.7
|
395.88
|
®®®®
|
|
DIGITAL
EQUIP.
|
3/28/02
|
569.3
|
|
3/20/02
|
551.8
|
SELL
|
-17.5
|
|
563.09
|
|
|
DSQ
SOFTWARE
|
3/28/02
|
41.85
|
|
3/19/02
|
45.05
|
SELL
|
3.2
|
|
44.48
|
|
|
HCL
INFOSYSTEMS
|
3/28/02
|
120.25
|
|
2/14/02
|
109.35
|
BUY
|
10.9
|
|
114.26
|
|
|
HCL
TECHNOLOGIES
|
3/28/02
|
253.65
|
|
3/26/02
|
265.5
|
SELL
|
11.85
|
|
267.66
|
|
|
HUGHES
SOFTWARE
|
3/28/02
|
285
|
|
3/18/02
|
327.6
|
SELL
|
42.6
|
13
|
332.95
|
®
|
|
INFOSYS
TECH.
|
3/28/02
|
3735.45
|
|
3/22/02
|
3830.75
|
SELL
|
95.3
|
|
3931.37
|
|
|
MASTEK
|
3/28/02
|
362.2
|
BUY
|
3/26/02
|
329.6
|
SELL
|
-32.6
|
|
347.95
|
|
|
NIIT
|
3/28/02
|
234.25
|
|
3/27/02
|
231.3
|
BUY
|
2.95
|
|
228.98
|
|
|
PENTAFOUR
SOFTWARE
|
3/28/02
|
48.35
|
|
2/20/02
|
62.55
|
SELL
|
14.2
|
22.7
|
62.38
|
®®
|
|
POLARIS
SOFTWARE
|
3/28/02
|
202.1
|
|
3/8/02
|
212.85
|
BUY
|
-10.75
|
|
195.23
|
|
|
PSI
DATASYSTEMS
|
3/28/02
|
130.15
|
|
3/8/02
|
121.4
|
BUY
|
8.75
|
|
118.6
|
|
|
ROLTA
|
3/28/02
|
108.65
|
|
3/15/02
|
112.85
|
BUY
|
-4.2
|
|
106.25
|
|
|
SATYAM
COMPUTERS
|
3/28/02
|
267.65
|
|
3/26/02
|
260.95
|
SELL
|
-6.7
|
|
278.17
|
|
|
SILVERLINE
INDUSTRIE
|
3/28/02
|
52.95
|
|
3/26/02
|
52.3
|
SELL
|
-0.65
|
|
54.23
|
|
|
SONATA
SOFTWARE
|
3/28/02
|
16.6
|
|
3/8/02
|
15.6
|
BUY
|
1
|
|
14.16
|
|
|
SSI
|
3/28/02
|
178.55
|
|
2/28/02
|
184.3
|
SELL
|
5.75
|
|
190.1
|
|
|
TATA
ELXSI
|
3/28/02
|
76.85
|
|
3/27/02
|
76.5
|
BUY
|
0.35
|
|
76.39
|
|
|
WIPRO
|
3/28/02
|
1701.6
|
|
3/26/02
|
1662.8
|
SELL
|
-38.8
|
|
1708.42
|
|
|
|
