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Trading strategy for March 28, 2000

Satyam Computer: After a strong opening, the stock could not sustain at higher levels. However, the short-term outlook remains positive. Any decisive crossover above Rs 5200 can accelerate the rally. The next resistance is at Rs 5400 and then at Rs 5800. It has an immediate support at Rs 5010 and then at Rs 4750.

Zee Telefilms: The stock has corrected itself during the course of the day and has closed on a firm note. It has an immediate resistance at Rs 1130 above which long positions can be contemplated. On the lower side, first support lies at Rs 1065 and then at Rs 1050.

ICICI: The stock has closed on a strong note near its major resistance. Five day long consolidation is over and the counter seems to be ready for an upmove. Immediate support for the stock is at Rs 138 and then at Rs 131. On the upper side, the stock has its first resistance at Rs 150 and then at Rs 165.

DSQ Software: The fall in this counter has slowed down and there seems to be a scope for a rally. It has an immediate support level at Rs 2050, which can be used as a stop loss for short-term positions. On the upper side, once the immediate resistance of Rs 2210 is crossed, a strong rally can be expected. After this the stock has a minor resistance at Rs 2650.

Digital Equipment: The stock is consolidating itself at a level almost 50 per cent from its all-time high. One can take a medium-term long position with Rs 750 as a stop loss. Even if the stock retraces 30 per cent from the low, it should see a price of Rs 950. On the upper side, it has an immediate major resistance at Rs 950 and then at Rs 1100. Very short-term support for the stock lies at Rs 790.

SSI: The stock is still in a major uptrend and has only corrected itself in the last three trading sessions. It has an immediate resistance at Rs 5685 and then at Rs 5885. Long positions should be taken only after it crosses the first resistance. It has made a double bottom at Rs 5300 which can be used as a stop loss for short term positions.

By Arc Investments & Consulting

Stocks

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