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Trading Strategy for 29th October 1999

Sensex: The level of 4632 is a trend decider, on upper side it can flare up to 4687 and there after don't remain short in any sensex stocks. On downside it can slide to 4543 or to 4488 level. Chances are very bright that, Index will take U-turn from today itself. Already sensex has fallen by 573 points in just 13 trading sessions, and from last 15 days, I had mentioned to sell Sensex, software & Pharma stocks and traders could see what had happened to them. Maximum from Thursday close Index can slide another 100 point, and that too in worst condition.

Note: If Index doesn't breaks the low of 4577 level, then after crossing 4613 level, expect a non stop journey up to 4720, 4756, 4863 or up to 4899 level in the coming days. Traders can expect a very fast revival in coming days and this should be considered as relief rally only.

Nifty: The level of 1377 is a trend decider, on upper side it can flare up to 1393, if it crosses 1385 level. On the downside it can slide to 1351 level. There after expect a free fall.

NOTE: If Nifty does not breaks low of Thursday (1361) and crosses 1373 level decisively then it can flare up to 1400, 1410 or up to 1440 level. Any revival in Nifty based stocks should be considered as best opportunity to exit.

Reliance: The level of Rs 244 is trend is a trend decider, on downside it can slide to Rs 237 or to Rs 233. On upper side after crossing Rs 244 it can flare up to Rs 248 and there after don't remain short.

SBI: Sell with stoploss of Rs 247 level, on downside it can slide to Rs 236 or to Rs 229. Above Rs 247 it can flare up to Rs 254 level.

ITC: Sell with stoploss of Rs 751, on downside it can slide to Rs 715 or to Rs 691 level. Don't remain short above Rs 751 level.

Ranbaxy: The level of Rs 938 is a trend decider, on downside it can slide to Rs 891 or to Rs 872 or Rs 853 is also possible. Any revival should be considered as best oportunity to exit only.

Satyam: The level of Rs 1,318 is a trend decider, on downside it can slide to Rs 1,262 or to Rs 1,224. On upper side if it is able to cross Rs 1,318 then it can flare up to Rs 1,356.

Pentafour: The level of Rs 664 is a trend decider, on downside it can slide to Rs 624 or to Rs 604. Above Rs 664 it can flare up to Rs 684.

Global Tele: Buy this scrip above Rs 589 level, on downside it can slide to Rs 556 or to Rs 546. On upperside it can flare up to Rs 609.

Silverline: The level of Rs 418 is a trend decider, on upperside it can flare up to Rs 431. On downside it can flare to Rs 401 or to Rs 388 level.

Tisco: The level of Rs 154 is a trend decider, on downside it can slide to Rs 147 or to Rs 143. On upperside after crossing Rs 154 it can flare up to Rs 158 level.

ACC: Buy above Rs 210 only. On downside it can slide to Rs 202 or to Rs 198. Sell if revives.

L&T: The level of Rs 403 is a trend decider, on upperside it can flare up to Rs 411 level. On downside it can slide to Rs 391 or to Rs 383 level.

Zee Tele: The level of Rs 4,783 is a trend decider, on downside it can slide to Rs 4,644 and there after expect a free fall. On upperside it can flare up to Rs 4,862 or up to Rs 4,922 level.

Himachal Fut: The level of Rs 308 is a trend decider, on downside it can slide to Rs 286. Above Rs 308 it can flare up to Rs 329 level.

NIIT: Buy this scrip above Rs 2,120 level. On downside it can slide to Rs 2013 level. On upper side after crossing Rs 2,120 it can flare up to Rs 2189.

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