|
Bulls rule the roost
Deepak Sahijwala & Sanjay R Bhatia
The markets continued to rise sharply amidst intermediate
reactions, while volumes recorded have been very good. Traders and speculators
were seen building speculative positions in auto and tech stocks on the back
of good quarterly numbers. Incidentally, FIIs continued to pump in money in
equities and have remained net buyers during the week. Moreover, mutual funds
were also net buyers.
Technically, the markets would continue to witness
an upward trend as the FIIs continue to bring in more inflows, which would help
the benchmark BSE Sensex test new peaks. The overall sentiment continues to
remain cautiously positive and bullish, but it is important that the markets
consolidate at present levels for the gains to sustain. It may however, witness
occasional bouts of correction. On the upside,, the benchmark BSE Sensex has
moved above the psychologically important 5000 level, which is a positive sign.
Now, it is important that it continues to sustain above this level for it to
test the 5215 level. On the downside, the markets would find strong support
at the 5000 level and after that at around the 4900 levels.
CMC
The CMC stock has moved in a range of Rs 55.40, touching
an intra-day low of Rs 453.60 on November 3 and an intra-day high of Rs 509
on November 5. On the upside, it is likely to face resistance at the Rs 518
level. On the downside, the Rs 459 level continues to remain an important support
level.
Digital GlobalSoft
Digital has moved in a range of Rs 65.60, touching
an intra-day low of Rs 517 on October 30 and intra-day high of Rs 582.60 on
November 4. On the upside, it is likely to test the Rs 598 level. On the downside,
the Rs 500 level is likely to act as an important support level.
HCL Technologies
The HCL Tech stock has moved in a range of Rs 62.85,
touching an intra-day low of Rs 194.45 on October 30 and an intra-day high of
Rs 257.30 on November 5. On the upside, it is likely to test the Rs 260 level,
if it succeeds in sustaining above this level it is likely to test the Rs 280
level. On the downside, Rs 206 is an important support level.
Infosys Technologies
Infosys has moved in a range of Rs 589.40, touching
an intra-day low of Rs 4,530 on October 31 and an intra-day high of Rs 5,119.40
on November 4. Now, it is important that Infosys moves and sustains above the
psychologically important Rs 5,000 level, initially for four trading days followed
by 12 trading days for it to test the Rs 5,488 level. On the downside, the Rs
4,418 level is an important support level.
NIIT
NIIT has moved in a range of Rs 26.85, touching an
intra-day low of Rs 158 on October 30 and an intra-day high of Rs
184.45 on November 4. (It has touched an intra-day high of 196.30 on 6 November).
NIIT is likely to test the Rs 196.50 level, and
if it can move and sustain above it initially for four trading days followed
by 12 trading days then it is likely to test the Rs 261 level.
Satyam Computer
Satyam has moved in a range of Rs 59.80, touching an
intra-day low of Rs 288.10 on October 30 and an intra-day high of Rs 347.90
on October 5. Satyam has moved above the psychologically important
Rs 300 level, which is a positive sign. On the upside,
if it continues to sustain above the Rs 300 level, it is likely to test the
Rs 386 level. On the downside, the Rs 270 level is an important support level.
Wipro
Wipro has moved in a range of Rs 253, touching an intra-day
low of Rs 1,245 on October 30 and an intra-day high of Rs
1,498 on November 4. On the upside, it is likely to face resistance at the Rs
1,500 level. On the downside, the Rs 1,230 level could act as an important support
level.
| The Nasdaq continued to witness an upward trend with
occasional bouts of consolidation. But it is now finding it difficult to
move higher, as fatigue seems to have set in. However, it is likely to test
the 2060 level, if it moves and sustains above the psychologically important
2000 level. On the downside, the 1786 level is likely to act as a crucial
support level. |
 |
|
|
| Scrip |
Current Signal
|
Last Signal
|
Open |
Rise / Profit |
Stop |
Remark |
| |
Date |
Price |
Indicator |
Date |
Price |
Indicator |
Position |
(%) |
Loss
|
|
|
Indices
|
|
|
|
|
|
|
|
|
|
|
|
BSE SENSEX
|
11/7/03
|
4971.57
|
|
5/27/03
|
3081.94
|
BUY
|
1889.63
|
61.31
|
4858.54
|
®®®®®®
|
|
S&P CNX NIFTY
|
11/7/03
|
1592.05
|
|
5/26/03
|
982.45
|
BUY
|
609.6
|
62.05
|
1530.92
|
®®®®®®
|
|
NASDAQ
|
11/6/03
|
1976.37
|
|
3/21/03
|
1421.84
|
BUY
|
554.53
|
39
|
1900.28
|
®®®
|
|
Infotech Stocks
|
|
|
|
|
|
|
|
|
|
|
|
CMC
|
11/7/03
|
490.2
|
|
10/30/03
|
466.4
|
BUY
|
23.8
|
|
463.47
|
|
|
DIGITAL EQUIPMENT
|
11/7/03
|
566.85
|
|
10/31/03
|
550.85
|
BUY
|
16
|
|
541.85
|
|
|
DLINK
|
11/7/03
|
123.65
|
|
7/22/03
|
54.1
|
BUY
|
69.55
|
128.56
|
108.79
|
**********
|
|
HCL INFOSYSTEMS
|
11/7/03
|
357.05
|
|
10/29/03
|
330.35
|
BUY
|
26.7
|
|
342.63
|
|
|
HCL TECHNOLOGIES
|
11/7/03
|
244.5
|
|
7/8/03
|
155.5
|
BUY
|
89
|
57.23
|
188.43
|
®®®®®
|
|
HUGHES SOFTWARE
|
11/7/03
|
451.95
|
|
6/6/03
|
224
|
BUY
|
227.95
|
101.76
|
405.71
|
**********
|
|
IFLEX SOLUTIONS
|
11/7/03
|
693.05
|
|
10/21/03
|
704.4
|
SELL
|
11.35
|
|
734.37
|
|
|
INFOSYS TECH
|
11/7/03
|
4962.65
|
|
6/11/03
|
2934.65
|
BUY
|
2028
|
69.11
|
4540.05
|
®®®®®®
|
|
MASTEK
|
11/7/03
|
242.6
|
SELL
|
11/6/03
|
248.15
|
BUY
|
-5.55
|
|
245.09
|
Whipsaw
|
|
NIIT
|
11/7/03
|
186.9
|
|
10/24/03
|
154.5
|
BUY
|
32.4
|
20.97
|
162.04
|
®®
|
|
PENTAFOUR SOFTWARE
|
11/7/03
|
7.73
|
|
11/5/03
|
7.21
|
BUY
|
0.52
|
|
6.98
|
|
|
POLARIS SOFTWARE
|
11/7/03
|
162.05
|
|
10/31/03
|
147.55
|
BUY
|
14.5
|
|
148.13
|
|
|
PSI DATASYSTEMS
|
11/7/03
|
70.1
|
|
11/6/03
|
70.9
|
BUY
|
-0.8
|
|
69.53
|
|
|
ROLTA
|
11/7/03
|
79.9
|
|
10/31/03
|
72.7
|
BUY
|
7.2
|
|
71.76
|
|
|
SATYAM COMPUTER
|
11/7/03
|
328.3
|
|
7/25/03
|
193.35
|
BUY
|
134.95
|
69.8
|
295.58
|
®®®®®®
|
|
SILVERLINE INDUSTRIES
|
11/7/03
|
6.56
|
|
11/6/03
|
6.48
|
BUY
|
0.08
|
|
5.05
|
|
|
SONATA SOFTWARE
|
11/7/03
|
12.57
|
|
10/13/03
|
12.07
|
SELL
|
-0.5
|
|
13.16
|
|
|
SSI
|
11/7/03
|
134.2
|
|
6/2/03
|
70.95
|
BUY
|
63.25
|
89.15
|
119.37
|
®®®®®®®®
|
|
TATA ELXSI
|
11/7/03
|
94.35
|
|
10/24/03
|
87.55
|
BUY
|
6.8
|
|
87.96
|
|
|
TATA INFOTECH
|
11/7/03
|
334.1
|
|
6/12/03
|
139.55
|
BUY
|
194.55
|
139.41
|
329.99
|
**********
|
|
WIPRO
|
11/7/03
|
1425.75
|
|
8/20/03
|
953.6
|
BUY
|
472.15
|
49.51
|
1273.49
|
®®®®
|
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.
For further information or clarification call 5633 2834
in Mumbai or e-mail info@stratstar.com
|
