Trading strategy for October 19, 2000

Sensex: The Sensex has seen an unabated fall. Though there is no support in sight, a corrective rally cannot be ruled out. On the upper side, the level of 3900 would act as a major resistance level.

Global Tele: The stock has support at Rs 1040, below which one can initiate fresh short positions with a stop loss of Rs 1120. After Rs 1040, the last support for the stock is at Rs 1000. On the upper side, Rs 1120 would act as a strong resistance level and thereafter the next hurdle is at Rs 1180.

Pentamedia: The stock has an immediate support at Rs 375. On the upper side, the stock will face strong resistance at Rs 396 and thereafter at Rs 420.

SSI: The stock has broken an important support level of Rs 2100 and has closed way below it. Next major support for the stock lies at Rs 1500. On the upper side it faces an immediate resistance at Rs 2200 and therafter at Rs 2500.

Raymond: The stock has posted a lower top and the level of Rs 105 would act as a strong resistance level. On the lower side, level of Rs 98 is a major support below which the outlook will turn negative.

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