Trading Strategy for August 2, 2000

BSE Sensex: Immediate resistance for the Sensex lies at 4300 points and the outlook will improve only once this level is crossed. On the lower side, immediate support lies at 4220 points and thereafter at 4110 points.

Satyam: The stock has broken its first minor support of Rs 2400 and has closed on a weak note. The next support is at Rs 2320. On the upper side, the outlook would improve only after it crosses its major hurdle of Rs 2500.

Sterlite: The stock has broken an important base of Rs 840 and has closed on a negative note. It has its medium term support at Rs 790 below which the outlook will deteriorate further. On the upper side, it has immediate resistance at Rs 827 and thereafter the next hurdle lies at Rs 865.

Zee Tele: This stock too has broken a minor support and has closed below it. The next support lies only at Rs 400, below which the medium term outlook for the stock will become negative. On the upper side, it has an immediate resistance at Rs 442 and thereafter at Rs 465.

NIIT: The stock has posted a double top at Rs 1670 which would act as a major hurdle and it has also broken a major base of Rs 1620. Further down, it has a minor support at Rs 1550 and the next support lies at Rs 1500.

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