Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks

Trading strategy for July 13, 2000

After a correction, most of the top traded technology stocks rallied sharply. Today's low in stocks like Satyam, Himachal, Infosys, Wipro, Pentamedia, Silverline, DSQ Soft and Rolta can be used as a stop loss for medium term positions.

Sensex: This time the sensex has crossed its barrier smartly and the level of 4850 can be treated as a strong support level. Further boost to the index is likely to be provided by the technology stocks. On the upper side next resistance is only at 5600 points.

Satyam: The stock has crossed a major resistance of Rs 3250 and has closed on a strong note. Next resistance exists at Rs 3400 and thereafter at Rs 3500. On the lower side Rs 3100 can be treated a stop loss for all long positions.

SSI: This stock too has crossed its first major resistance of Rs 2980 and has closed above it. Next resistance for the stock is at Rs 3200. On the lower side Rs 2880 can be treated as a stop loss for all long positions.

Infosys: The stock is yet to cross its major barrier of Rs 8600. Above this it has a resistance at Rs 8800. On the lower side it has an immediate support at Rs 8100 which can be used as a stop loss for all long positions.

Himachal: The stock crossed its first resisitance and has closed near its next resisitance of Rs 1450. Further it has major resisitance at Rs 1500. On the lower side Rs 1290 can used as a reference point for all long positons.

Arc Investments & Consulting

Daily Technicals

Tell us what you think of this feature