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Trading strategy for November 27, 2002

Hemen Kapadia/Morpheus Inc

Sensex
Last Close: 3187.76
Support: 3101, 3007
Resistance: 3210, 3320

Trading Range: The Sensex opened at 3190.67, moved up to an intra-day high of 3210.68, declined to an intra-day low of 3181.25 and closed at 3187.76.

Review/Outlook: The Sensex has closed lower than the opening (though in positive territory) after 7 trading sessions. An intra-day decline below the 3186 level cannot be ruled out while it would be prudent to observe caution at higher levels.

Amara Raja
Last Close: 62.45
Support: 62, 58
Resistance: 67, 71

Trading Range: The scrip opened at 61.95, moved up to an intra-day high of 62.65, declined to an intra-day low of 61.10 and closed at 62.45.

Review/Outlook: The scrip has overcome the 62 level and the 10 day average at the same time indicating strength and its readiness to appreciate further from here.

Jaiprakash
Last Close: 32.05
Support: 30.90, 28.45
Resistance: 33.50, 35.20

Trading Range: The scrip opened at 30.90, moved up to an intra-day high of 32.25, declined to an intra-day low of 30.65 and closed at 32.05.

Review/Outlook: The scrip has surged ahead on significantly higher volume and closed above a supply line reflecting its intention at appreciate further.

Kesoram
Last Close: 26.80
Support: 25, 23
Resistance: 28, 31

Trading Range: The scrip opened at 25.70, moved up to an intra-day high of 27, declined to an intra-day low of 25.70 and closed at 26.80.

Review/Outlook: The scrip has bounced back smartly after taking support on the 55 day average while the volume is reassuring. Kesoram has posted a 2 month high indicating scope for further appreciation.

NIIT
Last Close: 153.10
Support: 140, 126
Resistance: 155, 161

Trading Range: The scrip opened at 148.00, moved up to an intra-day high of 155.65, declined to an intra-day low of 147.20 and closed at 123.10.

Review/Outlook: The scrip has been gaining ground by posting higher tops and bottoms ever since it overcame the 55 day average. It has posted a 3 month high while further progress seems to be a distinct possibility.

Stock Track

Scrip Support Last Close Resistance Trend ACC 153, 148 154.65 165, 175 Up HLL 163, 155 167 172, 183 Tu INFOSYS 4360, 3977 4485.75 4816, 5600 Sd ITC 592, 541 633.95 665, 729 Tu MTNL 103, 95 105.20 115, 124 Tu RIL 269, 242 292.05 298, 324 Up SATYAM 253, 224 274.50 301, 345 Tu SBI 248, 235 250.65 258, 276 Tu TELCO 166, 148 166.95 186, 199 Up TISCO 131, 125 137.65 139, 150 Up 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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