Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks

Trading strategy for May 15, 2000

ITC: The stock has crossed its minor resistance at Rs 545 and has closed above this. It has another major resistance at Rs 570 and then at Rs 590. Unless these resistances are decisively crossed, no long positions are advisable. On the lower side, it has an immediate support at Rs 530 and thereafter at Rs 520.

Sterlite: The stock has broken all medium term support and has closed on a very weak note. There are no immediate support for the stock until Rs 350. On the upper side, it has an immediate resistance at Rs 640 levels and a major resistance at Rs 740.

Rolta: The stock has broken all support levels and has closed below it. On this counter too, there are no immediate supports in sight. On the upper side, it has an immediate resistance at Rs 320 and major resistance at Rs 360.

SBI: This stock has also closed below another major support of Rs 190 and has a minor support at Rs 185. Below this level, the fall is likely to accelerate. On the upper side, it has an immediate resistance at Rs 193 and thereafter at Rs 202.

Reliance Petro: This stock is close to its medium term support at Rs 50 and the fall is likely to accelerate below this level. It has an immediate support at Rs 53. On the upper side, first resistance lies at Rs 55 and thereafter at Rs 58.

ICICI: The stock has broken first medium term resistance of Rs 114. Next medium term support is at Rs 85 and thereafter at Rs 70. On the upper side, it has an immediate resistance at Rs 111 and then at Rs 120.

Arc Investments & Consulting

Stocks

Tell us what you think of this feature