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Trading strategy for July 7, 2000

Sensex: Immediate support for the sensex is at 4840 points and therafter at 4780 points. On the upper side, it will face resistance at 4940 points.

Reliance: The stock has closed above its last resisitance and has entered in resisitance-free area. It has an immediate support at Rs 352 and thereafter at Rs 345. These levels can be used as a stop loss for long positions.

Himachal: It has been showing signs of consolidation. While the first resistance is at Rs 1480, it has a good base at Rs 1360 which can be used as a stop loss for long positions.

Satyam: It has made a minor base at Rs 3120 which can be used as stop loss for long positions. On the upper side, the level of Rs 3400 continues to as act as a resistance.

MTNL: This stock moved in a narrow range for the last four days, and has a made a good base at Rs 212 which can be used as stop loss for long position. On the upper side, position will improve above Rs 225.

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