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Money > Stocks > Technicals > Daily technicals March 17, 2001 |
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Trading strategy for March 19, 2001BSE Sensex: The corrective move terminated during the second half of Friday. While the main base for index is at 3436 points, the level of 3866 points is the first major resistance. Unless this level is crossed, the outlook will remain negative. Reliance: The stock broke its immediate support of Rs 391, which is not a positive sign for its technical health. The level of Rs 400 is a major hurdle and long positions should be avoided unless this level is crossed. Infosys: The stock showed a sharp fall from the peak of the day. With the latest fall, the level of Rs 5000 is the first major hurdle. It has a major base only at Rs 3740. IPCL: The stock has a base at Rs 48.50 below which the position will weaken further. The level of Rs 55 is an immediate hurdle. ACC: For those who hold a long position on this counter, the level of Rs 166 can be used as stop loss. It has a major resistance at Rs 183. Arc Investments & Consulting
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