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Trading strategy for February 22, 2000

Zee Telefims: After a period of three weeks, the stock has shown some strength. One can take long position with Rs 1465 as immediate stop loss. The next support exists at Rs 1420.

Infosys: The technical position is strong in this counter. The stock will gather momentum above Rs 10,600. One can take long position above this level with a stop loss of Rs 10,200. Next support is at Rs 9200.

NIIT: The stock has been showing sustained weakness and long positions are advisable only above Rs 2820. It has a minor support at Rs 2600. Below this, the position would weaken futher.

ITC: The stock is in good condition and has a minor resistance at Rs 1020 above which long positions can be taken. The stop loss in that case would be Rs 970. The next support for the stock is at Rs 920.

HCL Infosystems: The stock has taken resistance at Rs 960 for the third time. Keeping this as a reference point any crossover above this level can be taken as an entry point with stop loss of Rs 930. Immediate support is at Rs 920.

Global Tele: Global is still continuing with its bull trend. Immediate support for the stock is at Rs 2000 and then at Rs 1820.

By Arc Investments & Consulting

Stocks

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