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Trading strategy for April 25, 2001

BSE Sensex: Although IT stocks showed a smart rally during the second half, the index gained marginally. ITC, HLL, Reliance and RPL affected the index. The level of 3526 points should be considered as an immediate support, whereas the level of 3650 points will act as the first resistance.

L&T: The stock managed to remain firm for a major part of the day and the uptrend is likely to gather momentum above Rs 230. The level of Rs 218 is the first support, whereas the final base is at Rs 207.

SSI: Unlike other software stocks, SSI remained under pressure throughout the day on Tuesday. The level of Rs 688 should be considered as an important base. The level of Rs 825 will act as a major hurdle.

HCL Tech: This counter also remained volatile and could not show a positive close. It has a strong hurdle at Rs 410 above which the position will improve. The level of Rs 354 should be used as a stop loss.

Tata Tea: The stock has shown a smart improvement and has formed higher bottoms. The position will improve further above Rs 230. The level of Rs 208 can be used as a stop loss for long positions.

Arc Investmensts & Consulting

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