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Trading Strategy for 1st November 1999

Sensex: From the low of 2741 level, Index had already completed 227 days, and it looks that in coming 6 trading session Index will bottom out (Have a eye from 2nd To 9th November). Investors and traders are advised to consider 4158 & 1241 as Rock bottom support. My personal advise is don't panic, because any moment market will take U-turn. And chances are very bright that then it will give no chance.

Below 4272 level, it can slide to 4198 or to 4160 level. If it trades above 4273 level, then it can flare up to 4311 or up to 4349 level. Techncially market is weak only, expect a sharp relief rally. But have an eye on 4158 level; close below this level will create havoc in market.

Nifty: Consider 1241 as last major support for the coming month, in any circumstances it should not close below this level, to create havoc in market. For today's trading if starts trading below 1263 then it can slide to 1244 and there after expect a free fall to 1233 or to 1222 level. If it is able to stay above 1263, then it can flare up to 1274 or up to 1283.

Reliance: The level of Rs 217 is a last major monthly support. For todays trading it will have to cross Rs 224, then only think about buying this stock, otherwise on the downside it can slide to Rs 208. On the upper side if it is able to cross Rs 224 then it will go to Rs 232.

SBI: The level of Rs 227 is a trend decider, on upper side it will face resistance at Rs 235 and support exists at Rs 220 or there after it can slide to Rs 213.

Tisco: Buy above Rs 141 level only. On the downside it can slide to Rs 130 or to Rs 125. Above Rs 141 it can jump up to Rs 146.

ITC: Considering Rs 625 as rock bottom support for month buy this stock. If it trades above Rs 653 it can flare up to Rs 674 and it will face resistance at this level. If it trades above Rs 674 then it can flare up to Rs 699.

ACC: Sell if revives! On downside it can slide to Rs 179 or to Rs 172. The level of Rs 169 is a last major monthly support. On upper side it can flare up to Rs 192 level.

Ranbaxy: Buy above Rs 829 level. On the downside it can slide to Rs 770, Rs 755 or to Rs 740. If it crosses Rs 829 it can flare up to Rs 858 level.

L&T: Buy above Rs 377 only. On downside it can slide to Rs 354 or to Rs 343 level.

Satyam: Buy above Rs 1,216 level only. On the downside it can slide to Rs 1,134 or to Rs 1,090. Above Rs 1,216 it can flare up to Rs 1,238 or up to Rs 1,260 level.

Pentafour: Today it can slide up to Rs 534 or up to Rs 512. On upper side it can flare up to Rs 577 and this as last major resistance and there after dont remain short.

Silverline: Buy if it is able to cross Rs 363, for risk free trading. On downside it can slide to Rs 338 or to Rs 325 level. Above Rs 363 it can flare up to Rs 376 level.

Telco: Below Rs 220, it can slide to Rs 212 or to Rs 204 level. Consider Rs 195 as last major monthly support. On upper side if it trades above Rs 220 it will face resistance at Rs 228 and there after don't remain short.

Tata Tea: Sell with stoploss of Rs 516, on downside it can slide to Rs 485 or to Rs 470 level. On upper side after crossing Rs 516 it can flare up to Rs 531 level.

Global Tele: If it trades below Rs 488 it can slide to Rs 468 or to Rs 448 level. On upper side it can flare upto Rs 508 and there after it can flare up to Rs 528.

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