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Trading strategy for April 6, 2000

ACC: The stock has shown an extremely bullish close. It has an immediate support at Rs 149 and thereafter a major base lies at Rs 140. On the upper side, the resistance exists at Rs 180.

HDFC: This is the only counter in the specified list which is approaching a resistance-free area. This is an extremely bullish signal. The stock has immediate support at Rs 455. The next support is at Rs 440.

Reliance Industries: After posting a healthy correction the stock recovered sharply. It has an immediate resistance at Rs 307. Once this level is crossed, long positions can be taken with Rs 295 as a stop loss. Next resistance exists at Rs 315 and the last hurdle is at Rs 330. On the lower side, immediate support is at Rs 280.

Sterlite: This counter has showed a strong close. On the upper side, strong resistance exists at Rs 850. The base is at Rs 660 which can be used as a reference point for long positions.

Tisco: The stock has closed above its first major resistance and appears promising. The first resistance for the stock is at Rs 122 which once crossed is likely to give impetus to the rally. On the lower side, it has immediate support at Rs 112, and the next major support lies at Rs 110.

Dr. Reddy's: On Wednesday, the stock moved sideways, and in the process made a small base at Rs 1400. The immediate resistance for the stock is at Rs 1500 above which one can take long positions.

Arc Investments & Consulting

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