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Trading strategy for April 19, 2000

NIIT: The stock has broken its immediate support level of Rs 1980 and has closed below it. The stock has a minor support at Rs 1880. Below this level there is no support in sight till Rs 1480. On the upper side, the stock has its immediate hurdle at Rs 2025 and then at Rs 2100. Short term outlook will improve only once these levels are crossed.

BSES: The stock has managed to cross its first resistance of Rs 225 and has closed on a firm note. It has an immediate support at Rs 215 which can be used as a stop loss for long positions. Fresh long positions can be built once it crosses Rs 227 decisively, with a stop loss of Rs 220. On the upper side, it has a minor resistance at Rs 240 and major barrier lies at Rs 255.

Sterlite: This is one of the few counters which has decisively crossed its major resistance. Immediate support for the stock is at Rs 810 and then major support lie at Rs 800, below which long positions can be liquidated.

ACC: The stock has been in a mixed trend. It has an immediate resistance at Rs 156, above which long positions can be taken with a stop loss of Rs 150. Major resistance for the stock lies at Rs 170 levels. Immediate support for the stock is at Rs 145 and then at Rs 140.

Wipro: The stock has broken its medium term support levels of Rs 4375 and has closed on a very weak note. Immediate resistance lies at Rs 4300 and Rs 4500. Stock does not have any major support till Rs 2800.

ICICI: The stock has shown tremendous strength in an otherwise weak market and has closed on a strong note. The stock has immediate support at Rs 128 which can be used as a stop loss for short term positions. On the upper side, the next barrier is at Rs 142 and then at Rs 148

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