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Trading strategy for July 12, 2000

BSE Sensex: The index managed to remain firm because of stocks like Reliance and ITC. The first major resistance for the index is at 4950 points whereas the first support exists at 4840 points.

Infosys: The stock has posted a lower top at Rs 8550 which is a negative indication. The stock has also dipped below its first bottom of Rs 8345. The next major base for the stock is at around Rs 7500.

Zee Tele: The stock has steadily improved close to its major resistance of Rs 470. This level will continue to act as a major hurdle and the outlook should improve above this level. The last support for the stock is at Rs 420 below which the fall may gather momentum.

Satyam Computer: This stock has made a double top at Rs 3250 and unless this level is crossed, the short-term outlook will not improve. On the downside, support exists at Rs 3100. The next base is at around Rs 2900.

Himachal: The closing has been weak for the stock. It has a strong resistance at Rs 1350, and the outlook will improve only above this level. The next major hurdle for the stock is at Rs 1440.

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