Trading Strategy for September 12, 2000

Sensex: The pattern in the sensex is the one of a short term reversal and 4750 points would act as a resistance in the short term. On the lower side, it has a support at 4580 points.

Wipro: The stock has broken yet another major support and has closed on a weak note. On the upper side, it has a major resistance at Rs 3400 and therafter at Rs 3475. On the lower side, the next support is at Rs 3150.

Sterlite: Immediate support for the stock lies at Rs 1160 which can be used as a stop loss for long positions. On the upper side, the stock is in a resistance free zone.

Global Tele: Immediate support for the stock lies at Rs 1520 and therafter at Rs 1480. On the upper side, it has a minor resistance at Rs 1600.

Reliance: The stock has a good support at Rs 380 which can be used as a stop loss for short term traders. Below this level, the next support lies at Rs 360. On the upper side, the stock is in a resistance-free area.

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