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Trading strategy for April 23, 2001

BSE Sensex: With a support from stocks like HLL, Infosys, ITC and MTNL, the index managed to add another 9 points on Friday. Sustaining itself at higher levels is a good indication for its technical health. While the resistance will continue to be at around 3655 points, the level of 3525 points can be used as a fresh reference point for long positions.

Digital: The stock showed a mixed trend on Friday. After dipping during the mid-session, it managed to recover sharply during the second half of the day. The level of Rs 412 can be used as a stop loss for long positions. The level of Rs 452 is the first resistance.

Wipro: The performance of Wipro was comparitively better. The stock has made a base at Rs 1300 which can be used as a stop loss for long positions. The level of Rs 1425 is the first hurdle for this stock.

IPCL: The stock remained in a narrow range and has a resistance at Rs 57, above which the position will improve smartly. The resistance thereafter is at around Rs 62. The level of Rs 53.70 can be used as a stop loss for long positions.

ICICI Bank: The latest crisis in the market could not affect the stock which has remained firm. The outlook remains positive and the uptrend may gather momentum above Rs 190. The level of Rs 178 is the first base and the next support is at around Rs 164.

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