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January 1, 2001 		Feedback  
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Trading Strategy for January 2, 2001

BSE Sensex: On the first trading day of 2001, the index crossed the 4000-mark but failed to sustain at higher levels. For the time being, the level of 4022 points is the fresh resistance point. A minor base exists at 3900 points.

Global Tele: In a dramatic move, the stock recovered sharply from Rs 757 to Rs 810 within half an hour. The outlook will improve further above Rs 820. A minor base exists at Rs 780.

SSI: The stock was one of the prominent losers in the top traded counters. The stock has a strong resistance at Rs 1440, and its position will improve only above this level. It has an immediate support at Rs 1360.

MTNL: The stock has made a strong resistance at Rs 186 above which the position will improve. It has a support at Rs 172 which should be used as stop loss.

Wockhardt: The stock has managed to move above its medium-term resistance of Rs 460 which is positive. The level of Rs 417 should be used as stop loss for medium term positions.

Arc Investment & Consulting

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Daily technicals

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