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Trading Strategy for January 12, 2000

BSE Sensex: It was clearly mentioned in weekly trading strategy that on upper side the Sensex can flare up to 5630 level and on downside it can slide to 5200 level. It had crossed the above level by 30 points to touch 5668 level and yesterday on downside it had touched a low of 5220 and closed at 5296 level. For today's trading keep an eye on 5335 level. On downside it can slide to 5260 or expect a fall to 5185. A crossover above 5335 will take it to 5390 or 5450 and thereafter expect a non-stop rally and real firework will start. The chances are very bright that the worst is over and it seems that yesterday's low or 5180 should be considered as rock bottom support.

S&P CNX Nifty: Nifty will have to cross 1586 to regain its lost glory. On downside it can slide to 1560 and thereafter expect a free fall to 1532. On upper side, a decisive crossover above 1586 will take it to 1605 or 1625.

Reliance: The scrip will have to cross Rs 294 to show strength. On downside it can slide to 276 if it breaks Rs 285. Below Rs 276 it can slide to Rs 271. On upper side it can flare upto Rs 299 or Rs 305.

SBI: Buy on every decline. It will have to cross Rs 255 to show strength. Above this level it can zoom to Rs 265 & thereafter don't remain short. On downside it can slide to Rs 237 if it starts trading below Rs 246.

TISCO: Buy on every decline. Buy with stop loss of Rs 160. It can flare upto Rs 171 or Rs 177. If it breaks Rs 160 it can slide to Rs 154.

MTNL: First upper target exists at Rs 310 and thereafter don't remain short. Buy on every decline. The level of Rs 276 and Rs 270 are support level. On upper side it can flare upto Rs 290 or Rs 303.

L&T: It looks that today it hit a bottom and should go up. Above Rs 501, it will favour bulls. For today's trading, it will favour bulls above Rs 500. On upper side it can flare up to Rs 523 or expect an upper freeze.

ITC: It will have to cross Rs 906 to give a buy signal. On downside it can slide to Rs 873 or Rs 850. A crossover above this level will take it to Rs 930.

Global Tele: Monthly chart is indicating that if it remains above Rs 1013 then it can flare upto Rs 1135, Rs 1220 or Rs 1305. Buy with stop loss of Rs 976. It can flare upto Rs 1070 or Rs 1090. For today's trading keep an eye on Rs 1023.

Himachal: It will have to cross Rs 802 then only it will show strength. It can slide to Rs 725 if it breaks Rs 763. A crossover above Rs 802 will take it to Rs 827.

Satyam: It will have to cross Rs 2405 to gain strength. On downside it can slide to Rs 2310 and thereafter don't remain short. On upper side it can flare upto Rs 2472.

Pentafour: Buy above or sell with a stop loss of Rs 1217. On downside it can slide to Rs 1158 or Rs 1110. Above Rs 1205 it can flare upto Rs 1240 or Rs 1275.

Zee: Considering Rs 988 and Rs 978 as crucial support, buy this stock. It can flare upto Rs 1076 or an upper freeze is possible.

Ranbaxy: Considering Rs 902 as crucial support, buy this stock. It will have to cross Rs 938 and Rs 947 for unexpected buying. It can flare upto Rs 964 or Rs 990.

ACC: Yesterday it had closed at a very crucial support level of Rs 219. The chances are very bright that from this level, it will take a U-turn. On downside it can slide to Rs 211 or Rs 207. Above Rs 225 it can flare upto Rs 232.

Infosys: Below Rs 12722 , it can slide to Rs 11758 or Rs 10795 in coming days. For today's trading it will have to cross Rs 13066 to show strength. On downside it can slide to Rs 12142 & thereafter expect a free fall to Rs 11910 or Rs 11680. Try to exit from this scrip.

Telco: Above Rs 225, it will favour bulls only. It can flare upto Rs 250 & thereafter the sky is the limit. Buy with stop loss of Rs 228. On upper side above Rs 238, it can flare upto Rs 247 and thereafter don't remain short.

BPL: The level of Rs 277 is a trend-decider. On upper side it can flare upto Rs 288 or expect an upper freeze. On downside it can slide to Rs 265 level. Buy on every decline.

ICICI: Grab it in morning session itself. Monthly charts indicate that above Rs 116 level expect a non-stop rally to Rs 128 or Rs 140.

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