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Trading strategy for March 29, 2000

Satyam Computer: The stock staged a strong comeback on heavy volumes and appears positive. On the upper side, it has its next resistance at Rs 5900. The stock has made a double bottom at Rs 4825 -- making it an important reference point. Immediate support lies at Rs 5215.

HCL Infosystems: The stock has remained firm and may show a rally. It has a major support at Rs 625 which can be used as a stop loss for short-term long positions. On the upper side the stock has its first and major resistance at Rs 670. Once this is crossed, the stock does not have too many hurdles upto a level of Rs 820.

ACC: The stock has been consolidating itself in the last ten trading sessions and is likely to move up gradually. One can take medium-term long positions with Rs 125 as a stop loss. The stock has its first major resistance at Rs 144 and then at Rs 160.

MTNL: Like many other pivotals, this stock is also in consolidation phase and is likely to show a recovery. However, long positions should be taken only once it crosses its first major resistance of Rs 254. Thereafter, the next resistance is at Rs 265. On the lower side, it has an immediate support at Rs 240 and then at Rs 230.

Rolta: The stock has decisively crossed its first major barrier and has closed above it. It has an immediate support at Rs 610 and the next major support lies at Rs 685. On the upper side, the next resistance lies at Rs 750.

Hughes Software: The stock has posted a lower top and is likely to post a correction from its current value. The fall is likely to accelerate below Rs 3585. On the upper side, it has a resistance at Rs 3820.

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