Search the Internet          Tips  Sites: Finance, Investment

Trading strategy for November 13, 2002

Hemen Kapadia/Morpheus Inc

Sensex
Last Close: 2961.24
Support: 2922, 2826
Resistance: 3007, 3101

Trading Range: The Sensex opened at 2941.54, moved up to an intra-day high of 2963.83, declined to an intra-day low of 2935.97 and closed at 2961.24.

Review/Outlook: The Sensex has recovered sharply from lower levels and closed in positive territory. It has also closed above the 2955 level (minor resistance level) indicating scope for intra-day appreciation while resistance comes in at the 2979 and the 2995 levels.

ACC

Last Close: 144.00
Support: 143, 135
Resistance: 148, 153

Trading Range: The scrip opened at 141.00, moved up to an intra-day high of 144.50, declined to an intra-day low of 140.10 and closed at 144.00.

Review/Outlook: The scrip has managed to overcome the 142 level on the daily chart and a supply line at the same time. ACC has taken support on the 55 day average and further appreciation seems to be a distinct possibility.

E Merck
Last Close: 231.00
Support: 228, 223
Resistance: 235, 248

Trading Range: The scrip opened at 228.70, moved up to an intra-day high of 231.00, declined to an intra-day low of 228.25 and closed at 231.00.

Review/Outlook:The scrip has bounced back smartly from its intra-day lows to finally finish in positive territory. E Merck is recovering from an oversold situation and the oscillators seem to suggest further progress.

Indian Hotels

Last Close: 140.55
Support: 138, 128
Resistance: 144, 155

Trading Range: The scrip opened at 142.00, moved up to an intra-day high of 143.00, declined to an intra-day low of 140.10 and closed at 140.55.

Review/Outlook: The scrip continues to post newer lows on a regular basis and has closed below the last 5 weeks' lows (read as bottom). Indian Hotels is reflecting weakness and further depreciation seems to be on the cards.

NIIT
Last Close: 128.45
Support: 126, 116
Resistance: 140, 155

Trading Range: The scrip opened at 128.00, moved up to an intra-day high of 129.45, declined to an intra-day low of 126.10 and closed at 128.45.

Review/Outlook: The scrip has finally managed to close above the 126 level after 9 trading sessions and numerous minor attempts. NIIT is facing some selling pressure from the 10 day average and could appreciate further once this is overcome.

Stock Track

Scrip Support Last Close Resistance Trend ACC 143, 135 144.00 148, 153 Tu HLL 155, 141 160.20 163, 172 Sd INFOSYS 3468, 2985 3938.55 3977, 4360 Sd ITC 592, 541 613.10 665, 729 Sd MTNL 95, 85 95.35 103, 115 Sd RIL 242, 217 260.95 269, 298 Sd SATYAM 224, 200 242.05 253, 301 Sd SBI 235, 223 236.85 248, 258 Sd TELCO 135, 121 146.20 148, 166 Sd TISCO 125, 118 125.25 131, 139 Sd GLOSSARY : CMP - Current Market Price, MACD - Moving Average Convergence Divergence, RMI - Relative Momentum Index, RSI - Relative Strength Index, ROC - Rate of Change, EMA - Exponential Moving Average, CMP - Current Market Price, Cls - Closing Price, Support - Level where buying can be expected, Resistance - Level where selling can be expected, Tu - Turning Upwards, Td - Turning Downwards, Sd - Sideways, Up - Uptrend, Dt -Downtrend. DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

ALSO READ:
More Money Headlines