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Trading strategy for November 26, 2002

Hemen Kapadia/Morpheus Inc

Sensex
Last Close: 3175.56
Support: 3101, 3007
Resistance: 3210, 3320

Trading Range: The Sensex opened at 3146.93, moved up to an intra-day high of 3183.29, declined to an intra-day low of 3140.31 and closed at 3175.56.

Review/Outlook: The Sensex continues to forge ahead for the 9th consecutive trading session and further progress above the 3184 level cannot be ruled out.

Geometric
Last Close: 448.95
Support: 434, 413
Resistance: 451, 483

Trading Range: The scrip opened at 447.00, moved up to an intra-day high of 453.60, declined to an intra-day low of 435.00 and closed at 448.95.

Review/Outlook: The scrip has managed to overcome the 444 level after much ado and with the oscillators supporting the move, further progress is a distinct possibility.

Satyam
Last Close: 274.70
Support: 253, 224
Resistance: 301, 345

Trading Range: The scrip opened at 270.00, moved up to an intra-day high of 277.40, declined to an intra-day low of 267.50 and closed at 274.70.

Review/Outlook: The scrip has recovered smartly from lower levels to close in positive territory. Satyam is expected to appreciate further in intra-day movements once it crosses the 278 level.

Telco
Last Close: 161.70
Support: 148, 135
Resistance: 166, 186

Trading Range: The scrip opened at 161.50, moved up to an intra-day high of 163.50, declined to an intra-day low of 160.30 and closed at 161.70.

Review/Outlook: The scrip has taken support on the 160 level for the past couple of trading sessions making it a level to reckon with (albeit for the short term). Telco seems to have made a temporary halt to catch its breath and continuation of its uptrend cannot be ruled out.

Tata Tea
Last Close: 165.85
Support: 163, 158
Resistance: 170, 183

Trading Range: The scrip opened at 162.50, moved up to an intra-day high of 166.50, declined to an intra-day low of 162.50 and closed at 165.85.

Review/Outlook: The scrip has forged ahead on significantly higher volume indicating strength. Tata Tea seems to have commenced a short term rally and further appreciation seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 153, 148 155.35 165, 175 Up HLL 163, 155 164.40 172, 183 Tu INFOSYS 4360, 3977 4562.30 4816, 5600 Up ITC 592, 541 644.25 665, 729 Tu MTNL 103, 95 106.15 115, 124 Tu RIL 269, 242 287.00 298, 324 Up SATYAM 253, 224 274.70 301, 345 Tu SBI 248, 235 250.30 258, 276 Tu TELCO 148, 135 161.70 166, 186 Tu TISCO 131, 125 135.15 139, 150 Tu 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.

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