Books
Budget Special
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks

Trading strategy for March 1, 2000

Satyam Computer: The stock has remained firm despite an overall selling in software sector. The stock has a support at Rs 4800. On the upper side the stock has a minor resistance at Rs 5320 and Rs 5460. Above Rs 5,300, one can take a long position.

Himachal Futuristic: This stock too has not yet broken any major support levels and appears strong. It has an immediate support at Rs 1710 and then at Rs 1640. On the upper side, it has a minor resistance at Rs 1840 above which one can fresh long positions.

Ranbaxy: After a long time, Ranbaxy has closed below its major support levels. If it continues to trade below Rs 880, the outlook would weaken further. The stock has support at Rs 745. On the upper side, the first hurdle is at Rs 1020 and the next resistance is at Rs 1060.

Global Tele: Global has closed its near term support at Rs 2050. Below this, the next base is at Rs 1850. On the upper side, the stock has an immediate resistance at Rs 2215. It has made a triple top at Rs 2410 and the stock is likely to accelerate only after this level is crossed.

Infosys: This stock has displayed consistent strength throughout the day. Long positions can be taken above Rs 9100 with Rs 8700 as a stop loss. On the lower side the stock has its first support at Rs 8400 and then at Rs 8000. On the upper side, above Rs 9100 the next resistance is at Rs 9600. The last resistance is at Rs 10,200.

SBI: The stock has closed near Rs 220 which is an important base. Below this, the next support exists at Rs 200. On the upper side, the stock faces the first resistance at Rs 240. The next hurdle is at Rs 263.

By Arc Investments & Consulting

Stocks

Tell us what you think of this feature