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Trading Strategy for January 17, 2000

BSE Sensex: The level of 5430 is a trend decider. On upper side it can flare up to 5515, 5560 or 5620 is also posssible. For more details Read weekly trading strategy.

S&P CNX Nifty: The level of 1614 is a trend decider. On upper side it can flare up to 1639, 1652 or 1668 is also possible.

Reliance: The level of Rs 315 is a trend decider. On upper side it can flare up to Rs 321, Rs 326 & there after it will try to touch Rs 331. For more details read weekly trading strategy. Below Rs 315 it can slide to Rs 310.

L&T: On Friday Box chart had given a powerful buy signal. Considering Rs 450 as crucial support level, buy this stock. Above Rs 463 it is risk free. On upper side today it can flare up to Rs 481, Rs 490 or Rs 498 is also possible. Consider this rally as relief rally only and it may fizzle out on Wednesday. For more details read weekly trading strategy.

MTNL: Buy with stop loss of Rs 298 and Rs 295. On upper side it can flare up to Rs 313 or Rs 324 is also possible. Buy on every decline.

ICICI: Buy with stop loss of Rs 133. On upper side it can flare up to Rs 144 or expect a jump up to upper freeze level. Above Rs 141 it can easily flare up to Rs 163 or Rs 185 by this month end. Buy on every decline.

Global Tele: The levels of Rs 1,030 and Rs 1,044 are trend deciders. On upper side the scrip will try to touch Rs 1055, Rs 1,073 or Rs 1,092 is also possible. Buy this stock on every decline. Major hurdle exists at Rs 1,133.

Himachal Fut: The level of Rs 800 is a trend decider. On upper side it can flare up to Rs 827 or expect a jump up to Rs 838 or Rs 850 is also possible. Scrip is ready to explode very heavily in coming days. If it trades below Rs 800 it can slide to Rs 780.

Satyam: The level of Rs 2,550 is a trend decider. On upper side it can flare up to Rs 2,588, Rs 2,625, Rs 2,664 or Rs 2,702 is also possible. Above Rs 2,600 it can go to Rs 2,850 or to Rs 3,100. Scrip will explode very heavily in coming days. Below Rs 2,550 it can slide to Rs 2,510.

Zee Tele: Above Rs 1,002 level it can flare up to Rs 1,022 or expect a jump up to Rs 1,050 and there after don't remain short. On the downside it can slide to Rs 975 level. Buy this stock on every decline.

Hughes Soft: Consider Rs 3,230 as last major Monthly support level. Below this level it can fall to Rs 2,816 or expect a free fall to Rs 2,370. Any revival in the scrip should be considered as best opportunity to exit. It will have to cross Rs 3,376 and Rs 3,410 level to get buy signal. On the downside it can slide to Rs 3,232 and there after expect free fall. Above Rs 3,410 it can flare up to Rs 3,460.

Ranbaxy: Scrip has formed Inverse Head & Shoulder and heavy acclumation is going on and it is on the edge to explode very heavily. Have some patience and get unexpected return. Buy with stop loss of Rs 937 or Rs 927. On upper side it can flare up to Rs 952, 962 and there after it can zoom up to Rs 974 or to Rs 990.

HLL: Scrip will have to cross Rs 2,733 or Rs 2,760 level to regain strength. On the downside it can slide to Rs 2616 level.

ITC: The level of Rs 886 and Rs 877 are support levels. On upper side it can flare up to Rs 910 or to Rs 935.

Gramaphone: Buy with stop loss of Rs 717. On upper side it can flare up to Rs 760 or up to Rs 785 or expect upper freeze. In the coming days scrip will cross Rs 1,000 level.

Glaxo: Buy with stop loss of Rs 745. On upper side it can flare up to Rs 795 or up to Rs 810. Major hurdle exists at Rs 850.

Infosys: It will not show its strength unless it crosses Rs 12,722 level with high volumes. On the downside it can slide to Rs 10,795 if it breaks and starts trading below Rs 11,758. Try to exit on upper levels. For today's trading it will have to cross Rs 12,110 level then only it will show its strength. On the downside it can slide to Rs 11,905, Rs 11,456 or Rs 11,010 is also possible.

Silverline: Buy with stop loss of Rs 648. On upper side it can flare up to Rs 682, if it crosses Rs 668. Above Rs 682 it will try to touch Rs 696. Below Rs 648 it can slide to Rs 630.

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