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Trading strategy for February 18, 2000

Zee Telefilms: Zee Telefilms has been moving in a band for the past three days. The stock has a resistance at Rs 1400. One can take a long position above these levels with a stop loss of Rs 1360. Below this, the stock finds support at Rs 1300. The last support for the stock is at Rs 1200.

Global Tele: Global Tele has crossed major resistances and looks extremely bullish. One can take long positions with a stop loss of Rs 1880. The next support for the stock is at Rs 1835.

Himachal Futuristic: Himachal is yet to show signs of weakness. The stock has an immediate support at Rs 1325 which can be used an a reference point for an exit. The stock is likely to gather momentum above Rs 1375.

ITC: ITC has done well in the recent past. The stock has an immediate support at Rs 980 which can be used as a stop loss. Above Rs 1050, one can take fresh long positions.

HCL Infosystems: HCL Info also appears promising. One can build long position with Rs 905 as a stop loss. The support thereafter exits at Rs 880.

Pentamedia (Pentafour): Pentamedia has been moving sideways. The stock has an immediate resistance at Rs 1875 above which long positions can be taken. The stock has supports at Rs 1800 and Rs 1750 respectively.

By Arc Investments & Consulting

Stocks

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