Trading Strategy for August 22, 2000

Sensex: After a struggle of almost 20 trading sessions, the Sensex crossed the barrier of 4380 points and has closed above it. The level of 4142 points can be used as a reference point with a medium term perspective. On the upper side, the Sensex would be creating fresh resistances as a one-way move towards its next major resistance of 5050 points appears unlikely.

Himachal: The stock has crossed a major barrier of Rs 1550 and has closed above that level. Next barrier for the stock lies at Rs 1680. On the lower side, it has an immediate support at Rs 1535 and the next major base lies at Rs 1500.

Satyam: The stock has made a strong base at Rs 545. This can be used as a stop loss for short-term long positions. It has made a minor resistance at Rs 565. Major base for the stock exists at Rs 485.

SSI: The stock has made small support at Rs 2500, which can be used a stop loss for short term positions. Major base for the stock lies at Rs 2200. On the upper side, it has a minor resisitance at Rs 2600.

Global Tele: The stock has made strong resistance at Rs 1090 and the outlook is likely to improve above this level. On the lower side, it has made a support at Rs 1050 and thereafter major base lies at Rs 1000.

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