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Trading strategy for June 6, 2000

Satyam Computer: The fall in this counter was so steep that it created panic in other software stocks on Monday. The position will further weaken if it dips below Rs 2400. The next major support for the stock is at around Rs 2000.

Reliance: It showed a rally but failed to sustain it. The immediate base for the stock is at Rs 335 and below this the position will weaken. On the upper side the move will accelerate above Rs 355.

Zee Tele: This stock did well on Monday and has made a small base at Rs 580 which can be used as a stop loss. The next important base for the stock is at Rs 500.

HLL: It has formed a strong resistance at Rs 2650 level, above which the outlook will turn bullish. Long positions should be taken above this level. On the downside, it has a good base at Rs 2480 which can be used as a stop loss for long positions. Below this level the position would weaken further.

L&T: The stock has posted a double top at Rs 200 above which the position would improve. On the downside the immediate base is at Rs 180 below which the position will weaken.

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