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Trading strategy for May 5, 2000

Himachal Futuristic: The stock has closed above its first major resistance of Rs 860. On the upper side, the next hurdle is at Rs 1000. Immediate support for the stock lies at Rs 830.

Infosys: The stock has closed near its major resistance of Rs 8250. This stock appears better than any other software stock. It has its next resistance at Rs 10,200. Immediate support for the stock is at Rs 7940 and thereafter at Rs 7400.

HLL: The stock is yet to cross its major resistance of Rs 2500. Above this, the next resistance is at Rs 2600. The stock has an immediate support at Rs 2160 and then at Rs 2100.

Zee Telefilms: Any long position in the stock should be contemplated only once it crosses Rs 760. It has an immediate support of Rs 640. Below this level, it has a minor support at Rs 555.

MTNL: The stock has yet to show any signs of strength. It has its last support at Rs 200. Below this level, all long positions can be liquidated and fresh short positions can be taken with a stop loss of Rs 210.

Digital Equipment: The stock has already rallied 35 per cent from its low and has closed near its major resistance level of Rs 680. It has its next major resistance at Rs 760. On the lower side, immediate support for the stock is at Rs 645.

Arc Investments & Consulting

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