COLUMNISTS
STOCKS
MUTUAL FUNDS
TAX
INTERVIEW
INSURANCE
INSURANCE
REAL ESTATE
GOLD
CURRENCY

Trading Strategy for January 4, 2000

BSE Sensex: Yesterday, the Sensex flared by 370 points to close at 5375 points. After crossing the 5444 level decisively, it can go to 5620 or 5680. If it breaks 5325 level, then expect a slide to 5260. Yesterday's rise is unreliable because stocks have shot up without volumes. It has formed a huge expanding triangle, which indicates some bad news in the near future. So be cautious.

Nifty: Above 1591 it can flare upto 1628,1657or 1666. On downside expect a slide to 1555 level and a free fall thereafter.

Reliance: The level of Rs 248 is a trend-decider. It can flare upto Rs 256 or Rs 260. A decisive crossover at Rs 257 with high volumes can take it to Rs 270 or Rs 285. Below Rs 248 it can slide to Rs 244 level.

ACC: Buy with stop loss of Rs 262. On upper side it can flare up to Rs 274 or Rs 280. A close above Rs 275 will take it above Rs 300. On downside it can slide to Rs 255.

L&T: Buy with stoploss of Rs 590; it can flare upto Rs 612 or Rs 621. A decisive crossover above Rs 612 will take it to Rs 640 or Rs 670. Buy this stock on every decline.

M&M: Above Rs 449, it will favour bulls only. On upper side it can go to Rs 477 and the sky is the limit beyond. Below Rs 448, it can slide to Rs 443.

Ranbaxy: Buy with stop loss of Rs 984. On upper side it can flare up to Rs 1010 or Rs 1025. It can even touch Rs 1042. Below Rs 984 it can slide to Rs 970.

Satyam: Buy with stop loss of Rs 2350. On upper side it can zoom to Rs 2425, Rs 2464 or Rs 2505. Above Rs 2500 level, it will try to touch Rs 2600.

Pentafour: Buy with stop loss of Rs 1428. It can flare up to Rs 1470 and thereafter don't remain short. Above Rs 1448, it can touch Rs 1650 level within hours. On downside it can slide to Rs 1415 and thereafter expect a free fall.

Zee: Buy with stop loss of Rs 1162. It can flare up to Rs 1200, Rs 1220 and the last major hurdle exists at Rs 1240 level. A decisive crossover above this level will take it to Rs 1315. Below Rs 1162 it can slide to Rs 1144.

Himachal: Monthly resistance and support - If it crosses Rs 685 scrip it can zoom up to Rs 775, Rs 823 or Rs 870.For today's trading consider Rs 720 as support.

Global Tele: Monthly resistance and support - Above Rs 1013, it can flare up to Rs 1135, Rs 1220 or Rs 1310.

Silverline: Buy with stoploss of Rs 867. On upper side it can flare up to Rs 885 or Rs 892. Buy on every decline.

DABUR : Buy with stop loss of Rs 1255. On upper side it can flare up to Rs 1296 or Rs 1320 level. It's ready to take off.

ITC : It's a hot buy. Buy with stop loss of Rs 704. On upper side, it can go to Rs 732 or Rs 745. Have an eye on Rs 745. A decisive crossover above this level will take it to Rs 785. Buy oon every decline.

Stocks

Tell us what you think of this feature