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Trading Strategy for January 14, 2000

Buy Reliance and Apollo Tyres. Expect selling in MTNL and Hindustan Lever. Buy L&T and Infosys in panic.

BSE Sensex: The level of 5510 is a trend-decider. On upper side it can flare upto 5550 or 5590. On downside it can slide to 5365 or thereafter expect a free fall in all Sensex-based stocks and the index can slide to 5327 or 5290. The chances of the market being in bull grip are bright according to New Time Theory. From January 17 to 21, traders can expect a rocket-like movement in five trading sessions. But Fibonacci count indicates that the current rally will fizzle out in the next five trading session.

S&P CNX Nifty: The level of 1634 is a trend-decider. On upper side it can flare upto 1644 or 1654. On downside it can slide to 1598, 1587 or 1577 if it starts trading below 1615 level.

Reliance: The level of Rs 309 is a trend-decider. On upper side it can flare upto Rs 316 or upto Rs 320. On downside it can slide to Rs 304 or Rs 300.

L&T: Day count method is indicating that the worst is over and the scrip will take a U-turn from today. The box chart says above Rs 459, it will try to touch Rs 493 or Rs 504. For today's trading if it starts trading below Rs 451 then it can slide to Rs 435 or Rs 425. If it stays above Rs 454 then it can flare upto Rs 468 which will be the last hurdle. Without having second thoughts, grab this stock.

ITC: Sell if it revives with a stop loss of 895. On downside it can slide to Rs 855 or Rs 845 if it trades below Rs 875. Above Rs 895 it can jump to Rs 915.

HLL: Above Rs 2731 it will favour bulls. Upper targets are Rs 2940 or Rs 3150 by month end if it stays above Rs 2731. For today's trading consider Rs 2770 as trend-decider. On upper side it can flare up to Rs 2817 or Rs 2865. On downside it can slide to Rs 2725 or Rs 2680 and thereafter expect a free fall.

Infosys: Any rally should be considered as an opportunity to exit. For today's trading, buy with stop loss of Rs 11992. On downside it can fall to Rs 11590. On upper side it can flare upto Rs 12210 or Rs 12395.

Satyam: Buy with stop loss of Rs 2437 and Rs 2413. It can flare upto Rs 2525, Rs 2555 or Rs 2588.

Pentafour: The level of Rs 1219 is a trend-decider. On upper side it can flare upto Rs 1255 or Rs 1310. On downside it can slide to Rs 1165. Buy on every decline.

Zee: Buy with stop loss of Rs 987. On upper side if it trades above Rs 1013 it can flare upto Rs 1040 (consider this level as last resistance). Above Rs 1040 it can flare upto Rs 1055 or Rs 1070.

Ranbaxy: The stock is in a consolidation phase and explosive But buy only above Rs 1005. For today's trading, buy with stop loss of Rs 920. On upper side, it can flare upto Rs 950. Consider this as last hurdle and thereafter it can zoom upto Rs 965 or Rs 980. Buy on every decline.

Apollo Tyre: It is ready to explode heavily. Buy with stop loss of Rs 179. On upper side after crossing Rs 187, it can flare upto Rs 193 or Rs 200.

MTNL: It has started a correction and unless it crosses Rs 293, it will not show strength. On downside it can slide to Rs 270 or Rs 260.

Silverline: It will have to cross Rs 710 to regain strength. On downside it can slide to Rs 678 or expect a free fall to Rs 662. Above Rs 710, it can flare upto Rs 725.

Telco: The level of Rs 236 is a trend-decider. It can flare upto Rs 241 or Rs 250. On downside it can slide to Rs 227 or Rs 222.

Tisco: The level of Rs 161 is a trend-decider. It can flare upto Rs 165. On downside it can slide to Rs 153 or Rs 150 level. Buy on every decline.

SBI: Keep an eye on Rs 247. It can flare upto Rs 251 or expect a jump to Rs 259. On downside it can slide to Rs 239 or consider Rs 236 as a rock-bottom price.

Escorts and Sterlite: Looking very hot. Catch them if you can.

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