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Trading strategy for July 19, 2000

Sensex: The levels that were mentioned yesterday still hold true. The level of 4600 points is main base, and on the upper side it has an immediate resistance at 4950 points and therafter at 5060 points.

Himachal: The stock has posted a double bottom at Rs 1340 which can be used as a stop loss for short term long positions. It has its first resistance at Rs 1385 and thereafter at Rs 1420. Below Rs 1340, the next and last support lies at Rs 1300.

Silverline: The stock has made a base at Rs 420 which can be used as a stop loss for all long positions. It has an immediate resistance at Rs 436 and thereafter at Rs 455.

ITC: The stock has broken its first support and is yet below it. It has an immediate resistance at Rs 825 and therafter at Rs 880. It has an immediate support at Rs 765 and therafter at Rs 720.

SBI: The stock is around a major resistance level of Rs 236 and once this level is decisisvely crossed the outlook will improve. On the lower side, it has an immediate support at Rs 224.

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