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

Trading strategy for May 22, 2000

Infosys: For the first time the stock has closed below its recent support of Rs 6700, which is a negative sign. Immediate resistance lies at Rs 7000 and thereafter at Rs 7400. On the lower side it has no immediate support until Rs 5500, which too is a minor support level.

Global Tele: The stock has crossed its first resistance of Rs 1025 and has closed near it. Immediate support lies at Rs 970 and major base is at Rs 850. These levels can be used as a stop loss for short term and medium term traders respectively. On upper side the rally is likely to accelerate above Rs 1050.

DSQ Software: The stock has managed to cross its first major top and has closed on a strong note. If it manages to stay above Rs 660 levels then one can take long positions with Rs 600 as stop loss. On the upper side next resistance is at Rs 750 and thereafter at Rs 850.

Digital Equipment: The stock has posted a double top at Rs 735 which would serve as a major resistance. Any crossover above this level can be used as a buy opportunity with a stop loss of Rs 640. On the lower side it has an immediate support at Rs 640 and thereafter minor support lies at Rs 580.

ITC: The stock has posted a rounding bottom at Rs 595 which could be used as a stop loss for short term long positions. On the upper side it has an immediate resistance at Rs 635 and thereafter only at Rs 700 levels.

Arc Investments & Consulting

Stocks

Tell us what you think of this feature