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Trading Strategy for the week ending March 31, 2000

BHEL: Last week, in a process to consolidate itself, this counter managed to cross its first resistance level which was at Rs 135. It has also made a good base at Rs 120 which can be used as reference point for long positions. For those, who like to take a position close to the bottom, this stock appears very promising. The level of Rs 120 can be used as a stop loss.

Dr.Reddy's Lab: This counter has done exceedinly well, and the outlook remains extremely bullish. One can take long positions with Rs 1520 as a stop loss. The next base for the stock exists at Rs 1423.

Cipla: In the recent past, the stock has managed to show a good recovery. After the recovery, for the last three trading sessions, the stock has managed move sideways. If the stock manages to cross Rs 1185, one can take long positions. The stop loss in that case would be Rs 1050. The last base for the stock exists at Rs 870.

HDFC Bank: The outlook for the stock continues to remain positive. It has managed to cross its short-term resistance, and is all set to enter in resistance-free area. One can take long positions with stop loss of Rs 250. For extremely short-term player, the stop loss is Rs 265. On the upper side, the rally will accelerate above Rs 284.

Pfizer: After a recovery from the bottom, the stock has moved sideways, and appears ready for a fresh upmove. One can take long positions with stop loss of Rs 850. The upmove will gather momentum above Rs 1000. The next resistance for the stock exists at Rs 1150.

Cadbury: With a sharp rally, this counter managed to enter into resistance-free area in the previous week. This week, it showed correction but the outlook still remains positive. One can take long positions on every decline. Short-term players can have a stop loss of Rs 880. The medium term support for the stock exists at Rs 700.

By Arc Investments & Consulting

Stocks

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