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Trading strategy for June 19, 2000

Sensex: The index is ruling close to its medium term resistance and it appears it will cross the level of 4800 points. It has a minor support at 4710 and major support lies at 4560. On the upper side, after 4800 points the next major hurdle is at around 5600 points.

Digital Equipment: The stock has made a strong resistance at RS 750 and once this level is decisively crossed the position of the stock would improve. One can take long positions with a stop loss of Rs 710.

SSI: It has been moving sideways for the last two trading sessions. The stock is still ruling above its medium term resistance and looks attractive. The position of the stock would improve further once the level of Rs 3230 is decisively crossed. And long positions can be taken with a stop loss of Rs 3070. Below this, the next support is at Rs 2930.

Zee Tele: The stock has made a good base at Rs 470. It has its first resistance at Rs 500 and thereafter at Rs 540. Once these levels are crossed, the outlook of the stock will improve.

Cipla: In the last two months this is the first time the stock has crossed its first barrier and has closed on a strong note. Immediate support for the stock is at Rs 780 and thereafter major base lies at Rs 725. On the upper side, it has resistance at Rs 1200.

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