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Trading strategy for June 27, 2000

Sensex: The Sensex has crossed a minor top and has closed near it. But, major resisitance yet lies at 4840 point and the outlook is likely to improve only above this. On the lower side, immediate support exists at 4600 points and thereafter at 4550 points.

Wipro: The stock has crossed its minor resisitances and has closed on a strong note. Major resistance is at Rs 3050 and the outlook will further improve above this level. Immediate support exists at Rs 2730 and major support is at Rs 2460.

Sterlite: The stock has crossed first resistance of Rs 820 and has closed above it. Next resistance exists at Rs 840 and the rally is likely to accelerate above this level. One can take long positions above this level with a stop loss of Rs 815. On the lower side it has immediate support at Rs 815 and major support at Rs 770.

Zee Tele: This stock has made strong base of Rs 460 and this level can be used as a stop loss for all long positions. Immediate resistance lies at Rs 515 and thereafter at Rs 530.

Satyam Computer: The stock has broken major support levels and has closed near them. At this stage, it does not seem encouraging on the upper side. It has major resistance at Rs 3200 and thereafter at Rs 3500. On the lower side, it has an immediate support at Rs 2750 level.

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