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Trading strategy for July 18, 2000

Sensex: After the break of 4860 points, the sensex did not look up at all. The next important level for the index is at 4600 points which can be considered as a last support for the sensex. On the upper side, immediate resisitance lies at 4950 points and therafter at 5060.

Satyam: The stock has broken yet another bottom and has closed below its next support level. Last support exists at Rs 2735 which can be considered as a medium term support level. Immediate resistance lies at Rs 2990 and therafter at Rs 3050.

Infosys: Technically speaking, the stock has broken all support levels and has closed below them. It has its next base only at Rs 5500. On the upper side, the resistance is at Rs 7800 and thereafter at Rs 8500.

Zee Tele: The stock has strong resistance at Rs 530 and the counter will improve only above this level. On the lower side, it has a major base at Rs 510 which can be used as a stop loss for long positions.

Himachal: The stock has broken a minor support level and has closed below it. On the lower side, it has its first support at Rs 1340 and therafter at Rs 1300. On the upper side, the level of Rs 1425 would act as a strong resistance.

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