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Trading strategy for March 3, 2000

Pentamedia (Pentafour Software): The stock has closed near its first major resistance at Rs 1915. The next resistance is at Rs 2050. On the lower side, the stock has immediate supports at Rs 1850 and Rs 1720.

Digital Equipment: The stock has an immediate support at Rs 1340 and then at Rs 1280. On the upper side, it has immediate resistance at Rs 1400 and Rs 1420.

MTNL: The stock has made a double bottom at Rs 280, which is a strong support level. Below this, the next base is at Rs 255. On the upper side, it has an immediate resistance at Rs 326 and the rally is likely to accelerate above this level. Long positions can be taken above this level with Rs 310 as stop loss.

Silverline: The stock has closed above its first major resistance and has an immediate support at Rs 1130. On the upper side, the stock faces its first resistance at Rs 1210 and then at Rs 1270.

Sterlite: The stock has shown strength in the last two trading sessions. The stock has a short term support at Rs 850 and then at Rs 827. On the upper side, the first resistance is at Rs 900 and then at Rs 960.

NIIT: The stock is on a downtrend. First resistance is at Rs 2600 and a major resistance exists at Rs 2800. Long positions are advisable only above these levels. On the lower side, the stock has immediate support at Rs 2480 and Rs 2360.

By Arc Investments & Consulting

Stocks

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