Trading Strategy for August 31, 2000

Sensex: The rally in the Sensex failed to sustain and the market appears weak at this stage. The euphoria in the software stocks failed to sustain at higher levels which is not a good sign. On the lower side, the next support lies at 4380 points and the resistance stands at 4500 points.

Satyam: The stock failed to cross its major resistance of Rs 585. It has an immediate support at Rs 555. Major base for the stock lies at Rs 545 below which the outlook is likely to turn negative.

Pentamedia: The stock has already broken its first support of Rs 460 and has closed below it. Next support lies at Rs 430, below which the position would weaken further. On the upper side, it has an immediate resistance at Rs 480.

DSQ Software: The stock has not broken its support level of Rs 700. It has an immediate resistance at Rs 740 and thereafter at Rs 775.

L&T: The stock has been range bound between Rs 200 and Rs 212. A break-out on either side will determine its short-term direction.

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