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August 31, 2001
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Money > Stocks > Technicals > Daily technicals August 31, 2001 |
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Trading strategy for September 3, 2001BSE Sensex: The index has broken a major base of 3270 points and has closed below it. The outlook is further likely to turn negative. Immediate hurdle is at 3310 and a major resistance continues to be at 3360 points. It has a minor base at 3240, below which the next major base lies only at 3096 points. NIIT: The position of the stock is getting worse. It has broken its immediate base of Rs 162. The next support lies only at Rs 150. There is an immediate hurdle at Rs 176. Telco: The stock has been consolidating at current levels. There is an immediate hurdle at Rs 78, above which the outlook will improve. Long positions can be taken above this level, with Rs 72 as a stop loss. Ranbaxy: The stock has made a good base at Rs 590. Immediate hurdle lies at Rs 608, above which long positions should be taken with a stop loss of Rs 590. A minor hurdle lies at Rs 620. The outlook in the counter is positive. Cipla: The stock has an immediate base at Rs 1216, which can be used as a stop loss for short-term long positions. Minor hurdle lies at Rs 1255. The counter is in a major uptrend. Arc Investments & Consulting
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