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Trading Strategy for January 6, 2000

BSE Sensex: It was clearly mentioned to remain cautious on the upper side for the last two days and yesterday the expanding triangle favouring bears was mentioned. For today, the level of 5333 is a trend-decider. The Sensex can flare upto 5407 or 5482. On downside it can slide to 5267 and thereafter expect a free fall to 5200 or 5126. There are bright chances that we see a U-turn from 12:05 or 12:15.

S&P CNX Nifty: The level of 1596 is a trend-decider. It can flare upto 1616 or 1637. Thereafter don't remain short in any Nifty based stocks. On downside it can slide to 1576 or 1557.

Reliance: Buy Reliance Industries and get Reliance Petroleum free! Reliance Industries' investment holdings in companies like Reliance Petroleum, L&T, BSES and cash/bank balance is worth a mindboggling Rs 24,200 crore. While its market cap is only Rs 25,300 crore. RIL is available free as its current market value is worth its investments.
For today's trading, buy with a stop loss of Rs 275. Above Rs 285 it will favour bulls only. On upper side it can flare upto Rs 296, Rs 301 or upper freeze too. (Monthly resistance: Above Rs 284 it will flare upto Rs 311 or Rs 338 level.

SBI: The level of Rs 250 is a trend-decider. On upper side it can flare upto Rs 260 or Rs 270. On downside it can slide to Rs 240.

ITC: Refresh your memory for the last two days. It was clearly mentioned to catch this scrip. For today's trading buy with stop loss of Rs 721. It can flare upto Rs 742 or Rs 763. On downside it can slide to Rs 690. (Above Rs 745 it will favour bulls only.)

L&T: Sell with stop loss of Rs 590. On downside it can slide to Rs 560 or Rs 545. On upper side it can flare upto Rs 605 level. (Buy on every decline.)

ACC: The level of Rs 252 is a trend-decider. It can flare upto Rs 265. On downside it can slide to Rs 239.

Global Tele: The level of Rs 1082 is a trend-decider. It can slide to Rs 1048 or Rs 1015. On upper side it can touch Rs 1110, Rs 1136 or expect an upper freeze. Buy on every decline.

Himachal: The level of Rs 753 is a trend-decider. On upper side it can flare upto Rs 766 or Rs 780. On downside it can slide to Rs 712 (if it breaks Rs 732) or upto 699 level and there will be a downward freeze.

Zee: The level of Rs 1181 and Rs 1170 are crucial support. On upper side it can flare upto Rs 1225 and thereafter expect a price of Rs 1250. Below Rs 1170 it can slide to Rs 1140 level. Buy on every decline.

Sterlite: The level of Rs 440 and Rs 476 are crucial resistance levels for January 2000. For today's trading have a stop loss of Rs 400. On upper side it can flare upto Rs 437 and thereafter it can flare upto Rs 452 level. Below Rs 400 expect a fall to Rs 380.

Silverline: The level of Rs 860 is a trend-decider. On upper side it will have to cross Rs 882 then only it will show strength. On downside it can slide to Rs 840 and thereafter expect a free fall. Above Rs 882 it can flare upto Rs 905.

Satyam: The level of Rs 2458 and Rs 2482 are crucial resistance levels. On downside it can slide to Rs 2340 if it breaks Rs 2399. Above Rs 2482 it can flare upto Rs 2507 or Rs 2556.

Tisco: Buy with stop loss of Rs 154. It can flare upto Rs 165 or Rs 170. On downside it can slide to Rs 150.

Ranbaxy: Buy above Rs 1005 level only. On downside it can slide to Rs 959 and thereafter expect vertical fall if it breaks Rs 982. Above Rs 1005 it can flare upto Rs 1030.

M&M: Buy with stop loss of Rs 500. On upper side it can flare upto Rs 549 or expect an upper freeze. On downside it can slide to Rs 485. Buy on every decline.

Digital: The level of Rs 1292 is a trend-decider. On upper side it can flare upto Rs 1337 or expect a jump to Rs 1382. On downside it can slide to Rs 1243 or Rs 1195.

MTNL: The last and major hurdle for this scrip exists at Rs 254 level. Thereafter it will try to touch Rs 282 or Rs 310. For today's trading buy with stop loss of Rs 233. It can flare up to Rs 254 or Rs 264.

Hindalco: The level of Rs 930 is a trend-decider. On upper side it can flare upto Rs 1015, Rs 1036 or Rs 1057. Buy on every decline.

Gramophone: The last major monthly hurdle exists at Rs 684. If it crosses and closes above this level then by month it will touch Rs 788, Rs 895 or Rs 1000.

DSQ Software: The level of Rs 966 is a trend-decider. On upper side it can flare upto Rs 1002 or Rs 1038. On downside it can slide to Rs 930 and thereafter expect a free fall.

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