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Money > Stocks > Technicals > Daily technicals February 28, 2001 |
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Trading strategy for March 1, 2001BSE Sensex: The Sensex did not break a major base of 4006 points and has shown a bounce from there. From a purely Sensex perspective, the position will continue to remain positive as long as this support of 4006 is not broken. On the upper side, it will face hurdle at 4400 points. Infosys: The stock has taken support at 5500 level for the third time in the last year. This level should be used as a stop loss by medium term players. In the short-term, the stock has an immediate support at Rs 6100. It has an immediate hurdle at Rs 6500. SSI: On the daily charts the stock has made a double bottom of Rs 1070, which should be used as a stop loss for all long positions. In the medium term, the outlook will improve only above Rs 1600. In the short term, it has an immediate hurdle at Rs 1460 and an immediate support at Rs 1200. ITC: The stock has broken a support level of Rs 765 and has closed on a weak note. The position will weaken further below Rs 760. Short-term players can take a short position, below this level with Rs 780 as a stop loss. Grasim: The stock has made a medium term base at Rs 287. This level can be used as a stop loss by medium term players. On the upper side, the stock is likely to face a hurdle at Rs 345. Arc Investments & Consulting
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