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Trading Strategy for the week ending March 12, 2000

State Bank of India: The stock is extremely weak as it has broken its four-month support level of Rs 220. The first major resistance is at Rs 240 and then at Rs 270. One can take long positions only after it crosses these levels. On the lower side, the stock has its next support at Rs 200.

Pentamedia (Pentafour Software): The stock has made a double top at Rs 1900 and this would act as a major hurdle. Long positions are advisable only after these levels are crossed. Immediate support for the stock is at Rs 1780 and then at Rs 1600.

DSQ Software: The stock has retraced almost 80 per cent of its fall. The only resistance for the stock is at Rs 2220. On the lower side, the stock has its first support at Rs 2000 and then at Rs 1920.

Sterlite: The stock has closed near a resistance which is at Rs 960. This uptrend started from Rs 700 and the stock is likely to take a pause around these levels. On the lower side, the stock has an immediate support at Rs 900. It has a good base at Rs 840.

Hughes Software: The stock has crossed its first major hurdle of Rs 3800 and closed above this level. Immediate supports for the stock are at Rs 3500 and Rs 3200. On the upper side, the stock faces resistance at Rs 4400.

Rolta: The stock is rolling on a major uptrend. It faces its first resistance at Rs 920 and then at Rs 1000. It has an immediate support at Rs 800 and then at Rs 705.

By Arc Investments & Consulting

Stocks

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