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Trading strategy for May 3, 2000

Satyam Computer: The stock has broken yet another minor support and has closed below it on a very weak note. On the lower side there is no support in sight. On the upper side, it has a strong resistance at Rs 3400.

Infosys: The stock has broken its first support level of Rs 7975 and has closed below it. The fall is likely to accelerate below Rs 7725. On the upper side, the stock has an immediate resistance at Rs 8050 and thereafter at Rs 8400. Below Rs 7725, the next support for the stock is at Rs 6800.

NIIT: The stock has broken its first base of Rs 1950. On the upper side, it has its first resistane at Rs 2100, above which long positions should be contemplated. The fall is likely to accelerate below Rs 1865.

BSES: The stock has been moving in a band between Rs 250 and Rs 265. For long positons, Rs 255 can be used as a stop loss and the last support is at Rs 250.

Dr. Reddy's: The stock has broken its medium term support level of Rs 1200 and has closed below it. Medium term out look has turned negative. It has a resistance at Rs 1400. On the lower side, it has a minor support at Rs 1100 and thereafter at Rs 900.

Reliance Industries: The stock has broken a strong support level of Rs 343 and has closed on a very weak note. It has an immediate resistance at Rs 340 and major resistance is at Rs 356, above which long positions should be contemplated. On the lower side, it has its next major support at Rs 310.

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