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Trading strategy for August 2, 2001

BSE Sensex: Movement in the Sensex towards the second half of the day suggests that immediate outlook for the market is negative. Movements will be counter-specific, but the undertone is likely to remain bearish. Immediate resistance lies at 3350 points. Oultook will further deteriorate below 3250 points.

Infosys: The chart pattern of the stock suggests that outlook is further likely to deteriorate in the coming trading sessions. The level of Rs 3560 would act as the last immediate support for the counter. The outlook will further deteriorate below this. No long position should be taken in the stock. Level of Rs 3860 would act as a major hurdle.

Digital: The counter is likely to face an immediate resistance at Rs 475 level. On the lower side, it has an immediate base at Rs 448.

Zee: The counter has posted a sharp recovery from its low of Rs 68. Technically speaking, the counter is still in a downtrend, but the recovery suggests that it is likely to post a higher bottom. One could buy the stock at declines.

HLL: The stock has broken an immediate base of Rs 212 and has closed on a negative note. It was unable to cross its hurdle of Rs 225, which would act as a major resistance in the near future. The next base lies at Rs 194.

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