Equity Alert: Kernex up 1% as co wins bid for order; may end down
MUMBAI--2:25PM--Shares of Kernex Microsystems were up 1% at 109
rupees on
news the company has won a bid for a $16.05 mln contract from Egyptian
National
Railways, dealers said.
The stock touched an intraday high of 113.95 rupees before selling
pressure
eroded some of the early gains.
According to a dealer at a domestic brokerage, investors who had
bought the
stock Thursday were selling at higher levels today. Also, as markets
are weak
the stock may close in the negative, he said.
"The chart for the counter is pretty weak and volumes are also
thin," said
Kiran Suvarna, technical analyst, Finquest Securities.
The stock has resistance at 118 rupees, and then at 121 rupees,
while
support is seen at 100 rupees, and then at 95 rupees, Suvarna said.
So far today, 16,994 Kernex Microsystems shares have been traded
on NSE.
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