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Trading strategy for May 30, 2000

Himachal Futuristic: The stock has once again crossed another top of Rs 820 and has closed above it. This is a good indication. The next major resistance is at around Rs 1150. On the lower side, it has an immediate support at Rs 785 and thereafter at Rs 750.

Infosys: The stock has posted a double bottom at Rs 5600, which can be used as a stop loss for all long positions. On the upper side, it has an immediate resistance at Rs 5950 and thereafter at Rs 6100. After this major resistance lies at Rs 6300.

ITC: The stock has made a strong resistance at Rs 680. Immedaite support lies at Rs 665 and thereafter major base lies at Rs 630. The position is likely to weaken below these levels.

Zee Tele: The stock has crossed its first minor resistance of Rs 435. Futher, it has closed near its major resistance of Rs 450. Above this level it has no hurdle till Rs 510. On the lower side, the stock has immediate support at Rs 415 and then at Rs 380.

Sterlite: The stock has crossed its first resistance of Rs 572 and has closed above it. Immediate resistance lies at Rs 590 and thereafter at Rs 700 levels. Immediate support exists at Rs 565 and thereafter at Rs 530.

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