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Trading strategy for May 16, 2000

Satyam Computer: The stock has crossed its first minor resistance of Rs 2900 and has closed near it. Next resistance is at Rs 3050 and thereafter at Rs 3400. On the lower side, it has made a double bottom at Rs 2500 which can be treated as a stop loss for all long positions.

Silverline: The stock is close to its first major resistance of Rs 400. Once this is crossed decisively the position of the stock could improve. Major barrier after this is at Rs 460. On the lower side, it has an immediate support at Rs 370 and major support still exists at Rs 325.

HDFC: The stock is close to its first resistance of Rs 480. It has an immediate support at RS 450 and major support lies at Rs 415 which can be used as a stop loss for medium term players.

BSES: The stock has broken its first major support of Rs 245. Immediate resistance lies at Rs 262 and thereafter at Rs 275. The fall is likely to accelerate below Rs 240.

Telco: The stock has an immediate resistance at Rs 142 and thereafter at Rs 152. On the lower side immediate support is at Rs 124 and final support at Rs 118. Below these levels, the fall is likely to accelerate.

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