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August 2, 2001
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Money > Stocks > Technicals > Daily technicals August 2, 2001 |
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Trading strategy for August 3, 2001BSE Sensex: The index has moved in a narrow range and the level of 3350 points continues to act as an immediate resistance. On the lower side, the outlook will turn negative below 3250. Global Tele: The counter has seen high volatility in the form of intra-day movement. It has an immediate base at Rs 105, below which the short-term outlook will deteriorate. The level of Rs 112 will act as a minor hurdle. ACC: The stock continues to move in a sideways fashion. It has a major base at Rs 130, which can be used as a stop loss for all long positions. It has a major resistance at Rs 151. No speculative positions are recommended. ITC: The counter has managed to hold on in this bear market. It has a major hurdle at Rs 800, above which medium term players can take long positions. It has an immediate base at Rs 740 and then at Rs 700. These levels can be used as stop loss for all long positions. Cipla: The stock has been moving sideways for a long period. The amount of activity in the stock has reduced drastically. The level of Rs 1050 can be used as a stop loss for all positions. It has an immediate resistance at Rs 1100. Arc Investments & Consulting
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