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Trading strategy for June 30 Hemen Kapadia/ Morpheus Inc | June 28, 2003 14:21 IST The market has continued its winning spree to end on an extremely positive note at the end of the week. Banks and pharma were the clear winners of the day closely followed by IT while capital goods, consumer durables, and PSUs also gained ground. It was the FMCG sector, which came under pressure to end on a sour note. Volume was even higher (read as turnover) while the undertone was solid. Sensex -- Last Close: 3583.06 | Support: 3545, 3467 | Resistance: 3651, 3759 Trading Range -- The Sensex opened at 3577.96, moved up to an intra-day high of 3589.54, declined to an intra-day low of 3532.52 and closed at 3583.06. Review/Outlook -- The Sensex has forged ahead on higher volume and shows no signs of weakness as yet while the uptrend continues and a further upside seems to be on the cards. Adani Exports -- Last Close: 197.00 | Support: 195, 184 | Resistance: 223, 260 Trading Range -- The scrip opened at 195.00, moved up to an intra-day high of 201.40, declined to an intra-day low of 194.50 and closed at 197.00. Review/Outlook -- The scrip has reflected strength by posting a 13 month high and with the oscillators looking strong, a further upside seems possible. Dr Reddy's Lab -- Last Close: 1060.50 | Support: 998, 919 | Resistance: 1089, 1150 Trading Range -- The scrip opened at 1049.90, moved up to an intra-day high of 1076.00, declined to an intra-day low of 1046.00 and closed at 1060.50. Review/Outlook -- The scrip has given an upward breakout from a consolidation pattern and with the oscillators signalling a buy, a further upside cannot be ruled out. SBI -- Last Close: 375.45 | Support: 358, 333 | Resistance: 380, 415 Trading Range -- The scrip opened at 375.00, moved up to an intra-day high of 379.00, declined to an intra-day low of 365.70 and closed at 375.45. Review/Outlook -- The scrip has given an upward "bar" reversal (bullish intra-day pattern) and with the oscillators looking positive, further appreciation seems to be on the cards. TVS Motor -- Last Close: 574.20 | Support: 570, 514 | Resistance: 625, 660 Trading Range -- The scrip opened at 552.35, moved up to an intra-day high of 576.00, declined to an intra-day low of 551.00 and closed at 574.20. Review/Outlook -- The scrip has given an upward "bar" reversal (bullish intra-day pattern) and with the indicators looking firm, a further upside seems to be on the cards.
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