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Trading strategy for June 15, 2000

Sensex: On Wednesday, it broke its intra-day base. On the upper side, the outlook will be good above 4680 points and on the downside base exists at 4555 points. A fall below this would weaken the position.

SSI: It recorded an all-time high volume on Wednesday and was the strongest counter. It is above its medium term resistance and appears extremely bullish. The level of Rs 2950 should be used as a stop loss for all long positions.

Zee Tele: It has broken its short-term supports and has shown a weak close. The next major base for the stock is at around Rs 400. On the upper side the first hurdle is at Rs 505 and the next hurdle is at Rs 540.

Reliance: For the first time in the last eight days it has shown a close below Rs 338 which is a negative signal. The downtrend may accelerate below Rs 335. On the upper side the outlook will be good above Rs 352.

Wipro: The stock is close to its medium term resistance which is at Rs 2500. Above this the outlook will be extremely bullish and one should take long positions.

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