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Trading Strategy for the week ending February 20, 2000

BSE Sensex: It has shown a steady improvement from a level of 5134 points. Since the Sensex has moved up one way, the medium term reference point is 5134 points. Unless it breaks this level, the outlook remains positive.

Zee Telefilms: The scrip is firm. It has formed good bases at both Rs 1200 and Rs 1300. One can take a position considering these two levels as stop losses. Above Rs 1395, the move will accelerate.

Reliance: It is still strong. The stock has made a good base at Rs 335 which could be used as the stop loss. Above Rs 370, the move will accelerate. The last support for the stock is at Rs 310.

Pentamedia (Pentafour): The level of Rs 1750 is a good base and can be used as the stop loss for long positions. The last support for the stock is at Rs 1650. On the upper side, there is resistance at Rs 1950.

Global Tele: It has mode a strong base at Rs 1750 and below this it would be weak. The stock is good above Rs 1900.

NIIT: It has formed the first support at Rs 2950 which can be used as a stop loss. The position would improve above Rs 3200.

Ranbaxy: This scrip has been moving sideways and has made a good base at Rs 900. The position would strengthen above Rs 960. The next resistance levels are at Rs 1040 and Rs 1080.

Digital Equipment: It is not very strong. The stock has immediate support at Rs 1370 whereas the last base exits at Rs 1250. Above Rs 1465, the position would improve.

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