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Trading strategy for March 6, 2000

Zee Tele: The stock has retraced more than 50 per cent from its fall. On the upper side, the stock faces resistance at Rs 1530 and then at Rs 1570. Immediate support is at Rs 1440 and Rs 1380.

ICICI: The stock is on an uptrend. First major support is at Rs 160 and then at Rs 150. On the upper side, the stock has a hurdle at Rs 186 and then at Rs 193.

Silverline: The stock may consolidate itself at these levels. On the upper side, it faces resistance at Rs 1160 and Rs 1220. On the lower side, it has an immediate support at Rs 1085. Below this, the next major support is at Rs 980.

BSES: The stock has been scaling new highs and still looks very strong. It has an immediate support at Rs 370 and then at 360. Below these levels, the next support lies at Rs 330.

Digital: The stock is very weak and the fall is likely to accelerate below Rs 1200 which is the last support. On the upper side, the stock has its first hurdle at Rs 1280. Major resistance for the stock lies at Rs 1400. Long positions are advisable only once these hurdles are crossed.

Global Tele: The stock has done well in the past and the trend is likely to continue. On the lower side, the stock has an immediate support at Rs 2500. It does not face any resistance on the upper side.

By Arc Investments & Consulting

Stocks

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