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Trading strategy for May 2, 2000

Satyam Computer: The stock has made a triple bottom at Rs 3075 below which the position of the stock will deteriorate further. On the upper side, the first resistance is at Rs 3225 and then at Rs 3300.

NIIT: The stock has crossed the minor resistance of Rs 2000 and has closed above it. It has major support at Rs 1920 and long positions can be taken with this as a reference point. On the upper side, the stock has its next barrier at Rs 2200.

Reliance: The stock has been moving in a broad range of Rs 342 and Rs 356 and further direction is likely to be decided only after it breaks the levels on either side decisively. Above Rs 356, it has a minor resistance at Rs 366. Major support for the stock still lies at Rs 310.

Zee Tele: One can use Rs 680 as a reference point for long positions. On the upper side, the stock has its first barrier at Rs 740 and the rally is likely to accelerate above Rs 760. Long positions can be contemplated above Rs 760 with a stop loss of Rs 700.

Global Tele: The stock has posted a lower top and has closed on a weak note. Any long positions in the stock should be taken only after it crosses Rs 1280. The fall is likely to accelerate below Rs 1140.

Sterlite: The stock has posted a double top at Rs 760 above which long positions can be taken with a stop loss of Rs 730. On the upper side, it has a strong resistance at Rs 800. The position of the stock is likely to weaken below Rs 725.

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