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Trading strategy for June 29, 2000

Sensex: The sensex has managed to post a higher bottom and has crossed its first major resistance of 4740 point and has closed above it. The next resistance is at 4820 point. Immediate support is at 4640 point which can be regarded as a reference point for all long positions.

Satyam Computer: Immediate resistance lies at Rs 3000 and thereafter at Rs 3200. Last support for the stock exists at Rs 2750. This level can be used as a reference point for all long positions.

Global Tele: The level of Rs 1290 is a reference point for all long positions. This level can also be used as a stop loss for medium term players. On the upper side, it has an immediate resistance at Rs 1380 and there after at Rs 1450.

Pentamedia: In this stock, Rs 580 can be used as a stop loss for all long positions. The outlook for this counter will turn negative below this level. On the upper side, it has immediate resistance Rs 640 and thereafter at Rs 680.

HLL: The stock is much above its medium term supports and has a major support at Rs 2750. This can be used as a stop loss for short term long positions. On the upper side, it has an immediate resistance at Rs 3200.

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