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Trading strategy for July 17, 2000

Sensex: The Sensex closed on a negative note at its support level of 4850 points. Below this the next support lies at 4600 points. On the upper side immediate resistance lies at 4980 points and therafter at 5060 points.

Zee Tele: This stock showed a smart rally and in the first 15 minutes hit the upper circuit. It has a small base at Rs 505 which can be used as stop loss for long positions.

Pentamedia: Like other software stocks, this counter has also dipped below its major support level of Rs 580. The close has been very weak, and the downtrend may gather momentum. The level of Rs 630 will act as a major hurdle. Immediate resistance is at Rs 590.

Satyam: The close has been very weak as it is below all support levels. The next major base for the stock is only at around Rs 2700. Immediate resistance for the stock is at Rs 3060.

SSI: The stock has closed below its medium term supports. It has an immediate resistance at Rs 2900 and thereafter at Rs 3150. On the lower side it has a minor support at Rs 2670 and therafter at Rs 2430.

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