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Trading strategy for April 20, 2000

Satyam Computer: The stock has posted a double bottom with high volumes in daily charts. This bottom of Rs 3181 can be used as a reference point for all long positions. On the upper side, the stock has its first resistance at Rs 3750 and thereafter at Rs 4100.

L&T: The stock is ruling close to its medium term support of Rs 248. Below this level, the fall is likely to accelerate. Immediate resistance for the stock is at Rs 265.

Reliance: It has managed to move above its immediate resistance besides posting a higher bottom. First support is at Rs 302, and the next base is at Rs 292. On the upper side, resistance is at around Rs 360.

NIIT: It was the strongest counter on Wednesday. The stock has immediate support at Rs 1980 which can be used as stop loss. On the upper side, minor hurdle is at Rs 2170.

Aptech: Besides NIIT, Aptech was also strong on Wednesday. This stock is above its short-term resistance levels, and appears promising. Immediate support is at Rs 1940. The next base is at Rs 1850.

MTNL: This stock has made a small base at Rs 215 which can be used a reference point for short-term long positions. On the upper side, the first hurdle exists at Rs 230.

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