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August 30, 2001
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Money > Stocks > Technicals > Daily technicals August 30, 2001 |
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Trading strategy for August 31, 2001BSE Sensex: The index has further shown weakness and is approaching its major base of 3270 points. Outlook remains negative and the level of 3340 points continues to be a major hurdle. Infosys: The stock has once again shown tremendous weakness in the second half. Immediate hurdle lies at Rs 3830 and a major resistance is at Rs 3955. The outlook continues to be negative and long positions should be avoided. The next base is at Rs 3580. Zee Telefilms: The counter has had a good run and is close to its hurdle of Rs 125. Major base lies at Rs 115, which can be used as a stop loss for all long positions. At this stage long positions are not recommended. Digital: The stock has a good base at Rs 488, below which outlook will turn negative. This should be used as a stop loss for all long positions. Fresh short positions can also be initiated with a stop loss of Rs 504. Balaji Tele: This is one of the few counters which remains in an uptrend. It has an immediate resistance at Rs 215, above which long positions can be taken with Rs 202 as a stop loss. Arc Investments & Consulting
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