Trading Strategy for August 14, 2000

Sensex: On Friday, the Sensex witnessed a continuation of the downtrend, but did not break the support level of 4160. It has an immediate resistance at 4240 points, but the major resistance lies at 4380 and the overall outlook will improve only above this level.

Sterlite: The stock is yet to gather any strength and has an immediate resistance at Rs 640. Thereafter, the next resistance lies at Rs 730. The outlook will further deteriorate below Rs 600. Major base for the stock lies at Rs 500 levels.

Infosys: The stock has only corrected its rise marginally and has still not turned weak. It has an immediate resistance at Rs 7,500 and thereafter at Rs 7,800. It has made a minor support at Rs 7,150. This level can be used a stop loss for short term long positions.

Satyam: This stock too has only corrected its rise. The stock has a minor support at Rs 460. On the upper side first resistance lies at Rs 486 and thereafter at Rs 512. On the lower side it has a minor support at Rs 460 and thereafter the major base exists at Rs 420.

SBI: The stock has broken a major base of Rs 200 and has closed below this level. The stock has a major resistance at Rs 205 and the outlook will improve above this level. Next base lies at Rs 190.

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