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October 4, 2000
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Money > Stocks > Technicals > Daily Technicals October 4, 2000 |
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Trading strategy for October 5, 2000Sensex: The Sensex moved in a narrow range for yet another day, but closed on a positive note. One needs to be careful on the upper side especially in the software stocks. The Sensex is yet to cross 4200 points on the uper side. On the lower side 4030 remains a good support level. Global Tele: It has made a double bottom at Rs 1095 which can be used as stop loss for all long positions. On the upper side it has crossed its immediate resistance of Rs 1025. Next hurdle for the stock lies at Rs 1180. SSI: This stock too has crossed its first hurdle of Rs 2450 and has its next minor resistance at Rs 2500 and therafter at Rs 2750. On the lower side immediate support is at Rs 2350. DSQ Soft: The stock has an immediate resistance at Rs 545 which would serve as a major hurdle. On the lower side it has an immediate support at Rs 515 and the next major base is at Rs 500. Bajaj Auto: The stock has broken its six month support level of Rs 330 and has closed on a negative note. From the medium term perspective the stock has turned weak. On the upper side it has an immediate resistance 370. Arc Investments
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