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Trading strategy for February 9, 2001

BSE Sensex: Thanks to a smart rally on old economy counters, the index has come close to its immediate hurdle of 4405 points. The level of 4290 points is a major reference point for long positions. The sentiment for old economy counters is likely to get a further boost.

Wipro: Wipro has closed on a very strong note. The uptrend is likely to gather momentum above Rs 2900. The level of Rs 2780 can be used as a stop-loss for long positions.

Digital Equipment: This counter has shown a sharp rally, and it has an immediate resistance at Rs 738. The level of Rs 665 should be considered as a major base.

Reliance Petro: The stock has shown a firm trend, and is above all short-term resistance levels. For long positions, the level of Rs 66 can be used as stop loss for long positions.

Tata Tea: Like other old economy stocks, Tata Tea is also above its short-term hurdles. The uptrend is likely to gather momentum above Rs 302.

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