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August 3, 2001
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Money > Stocks > Technicals > Daily technicals August 3, 2001 |
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Trading strategy for August 6, 2001BSE Sensex: Though the undertone has remained bullish, it has not reflected much on the Sensex. The level of 3350 points continues to remain as an immediate resistance. On the lower side, immediate support lies at 3310 and thereafter at 3280 points. Satyam: The stock has shown a sharp recovery after breaking major supports. The counter is likely to post a higher bottom. Long positions can be contemplated on declines. It is likley to face a hurdle at Rs 170 levels. Reliance: The stock has been fluctuating between Rs 308 and Rs 322 levels. Either side break would determine the short-term direction of the stock. The counter continues to be in the downtrend, but a bounce cannot be ruled out. BSES: The stock has been moving in a sideways direction for over six months. It has an immediate base at Rs 185, which can be used as a stop loss. The outlook is likely to improve above Rs 210. Hindalco: The stock has broken a major support level of Rs 720 and has closed on an extremely negative note. Any bounce should be used as an exit. The next major support lies at Rs 600. Arc Investments & Consulting
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