Trading Strategy for August 4, 2000

BSE Sensex: The level of 4300 still acts as a major barrier and the sentiment is likely to improve only if it is crossed. It has an immediate support at 4190, below which the outlook will deteriorate. The next support for the Sensex is at 4120 points.

Himachal: The stock has made strong resistance at Rs 1390 and the outlook could improve above this level. On the lower side, it has last short-term support at Rs 1325 below which the outlook will be negative. The next support lies only at Rs 1140.

Zee Tele: The stock has failed to cross its resistance of Rs 442 and has closed below its support level of Rs 425. The overall outlook will improve only above Rs 442. Its last support is at Rs 400.

Global Tele: The stock has broken its first major support of Rs 1150 and has closed below this level. The next support is at Rs 1100. On the upper side it has a major resistance at Rs 1200 and the outlook will improve only above this level.

Reliance: The stock has closed below its first base of Rs 336 and appears weak. On the upper side, it has an immediate resistance at Rs 344. On the lower side, the last support lies at Rs 320 which can be used as a medium-term stop loss for all long positions.

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