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Trading strategy for July 6, 2000

BSE Sensex: The index is above its major resistance of 4900 points but the momentum is not very strong which is an unhealthy indication. On the downside, major base exists at 4600 points.

Zee Tele: The stock has consolidated itself at current levels and the momentum is likely to pick up above Rs 470. It has a strong base at Rs 440 which can be used as a stop loss for long positions. Above Rs 470, the next resistance lies at Rs 510.

Pentamedia: The stock has broken its first support of Rs 630 and has closed below it. The next support lies at Rs 605 and a major base is at Rs 575. On the upper side, it has an immediate resistance at Rs 638 and thereafter at Rs 650.

Infosys: Although the counter has shown a decline, the fall was not very sharp. Minor support exists at Rs 8500. On the upper side, the outlook will turn bullish above Rs 8800.

Satyam Computer: The stock has a minor support at Rs 3200. On the upper side, the short-term outlook will improve above Rs 3275 and the position will get better above Rs 3400.

Arc Investments & Consulting

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