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Trading strategy for March 14, 2000

Satyam Computer: The stock has broken one major support of Rs 6040 and has closed below it. Immediate resistance for the stock lies at Rs 6255 and then at Rs 6600. Long positions are advisable only once these resistance levels are crossed. On the lower side, the stock has major support at Rs 4900.

Digtal Equipment: After a fall of almost Rs 650 (45%), the stock is likely to consolidate itself. It has made a fresh minor support at Rs 820. On the upper side, it has its first major resistance at Rs 950. Long positions can be contemplated only above these levels.

HDFC Bank: This stock appears extremely bullish and has recorded an all-time high. It has an immediate minor support at Rs 265 and has its major supports at Rs 250. On the upper side, the stock does not have any resistance.

ITC: After showing strength initially, the stock failed to sustain at higher levels. On the lower side, the stock has its first support at Rs 815 and a major support at Rs 780. On the upper side, the rally is likely to accelerate once it crosses Rs 905.

Wipro: The stock has broken some major support levels and has closed below it. The next support for the stock is at Rs 4825. For any sustained upmove, the stock will have to cross Rs 6750. Unless this happens, long positions are not advisable. The stock has major resistance at Rs 7525.

Ranbaxy: The stock has been posting minor higher tops and bottom though it is still on a major downtrend. It has a strong resistance at Rs 752 and long positions should be taken only if this level is crossed. On the lower side, the stock has an immediate base at Rs 675. Last support for the stock is at Rs 635.

By Arc Investments & Consulting

Stocks

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