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Trading Strategy for 22nd October 1999

4730 IS ROCK BOTTOM FOR SENSEX and 1423 OR 1392 ARE ROCK BOTTOM FOR NIFTY

Sensex: The level of 4885 is strong resistance, on the downside it can slide to 4793 or expect a free fall to 4730.Read with your naked eyes, that what was mentioned in weekly trading strategy. Any revival in Sensex & Software stocks should be considered as best opportunity to exit. Expect a drastic fall in HLL, Hindalco, Infosys, Tisco, Bajaj Auto, Nestle, Cadbury, Reckitt & Col and in leading pharma stocks too Index has formed a expanding triangle & it looks that its real effect will start any moment.

Nifty: The level of 1463 is a trend decider, on upperside if crosses this level then only expect buying, other wise it can slide upto 1434 or upto 1419 level.

RIL: The level of Rs 261 is a trend decider, on downside it can slide to Rs 253 level. On the upper side it can flare up to Rs 269 or up to Rs 277 level.

ACC: Buy above 254 level, on the downside it can slide to Rs 241 or to Rs 234 level.

Ranbaxy: Buy above Rs 1,075 level, on downside it can slide to Rs 1,020 or to Rs 1,005 level.

Sterlite: Buy above Rs 452 level, on downside it can slide to Rs 433 or to Rs 423 level. On upperside it can flare up to Rs 462 level.

MTNL: Buy above Rs 214 level, on downside it can slide to Rs 204 or to Rs 198 level.

Digital Equip: Buy with stoploss of Rs 734, on downside it can slide to Rs 685 and there after expect a free fall.

Satyam: Buy above Rs 1,552 & it will face resistance at Rs 1,580 level. On the downside it can slide to Rs 1,441.

Global Tele: It will face resistance at Rs 675 or at Rs 686 level. On the downside it can slide to Rs 632 and there after expect a free fall.

Himachal Fut: Buy above Rs 360 level, on the downside it can slide to Rs 331 or to Rs 317 level. Above Rs 360 it can flare up to Rs 375.

Zee Tele: Buy above Rs 5,331 it can slide to Rs 5,207 or to Rs 5,083 level. If it crosses Rs 5,331 it can jump up to Rs 5,424 level.

Silverline: Buy above Rs 499 level, on the downside it can slide to Rs 472 and there after expect a free fall. After crossing Rs 499 it can zoom up to Rs 515 level.

L&T: Buy above Rs 432 level, on downside it can slide upto 419 or upto 412 level. On upperside it can flare upto 439 level.

SBI: Buy above 254 level, on the downside it can slide to Rs 246 or to Rs 242 level. Above Rs 254 it can zoom upto Rs 258 level.

Tisco: Buy above Rs 151 level, on downside it can slide to Rs 143 or to Rs 138 level. Above Rs 151 it can jump up to Rs 156 level.

Rolta: Buy above Rs 172 level, on downside it can slide to Rs 163 or to Rs 159 level. Above Rs 172 it can flare up to Rs 176 level.

NIIT: Buy above Rs 2,346 level, on downside it can slide to Rs 2,198 or up to Rs 2,148 level. Above Rs 2,346 it can zoom up to Rs 2,393 level.

ITC: Buy above Rs 774 level, on downside it can slide to Rs 754 or up to Rs 740 level. Above Rs 774 it can zoom up to Rs 788 level.

VSNL: Above Rs 1,655 level only, buy this scrip. On downside it can slide to Rs 1,510 or up to Rs 1,465.

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