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Trading strategy for July 10, 2001

BSE Sensex: It was yet another flat closing for the Sensex which doesn't take the market index anywhere. There is a minor hurdle at 3364 points. Volumes in the market suggest that the sentiment would remain subdued for some more time and big movements would be largely stock-specific.

Satyam: The stock has once again taken support at Rs 160 levels. It has been moving sideways since a couple of trading sessions. The outlook continues to be negative and the counter will face hurdle at around Rs 172-175 levels.

Tata Power: After entering the rolling mode, the stock has become extremely illiquid. The counter has made a double bottom at Rs 115, which could be used as a stop loss for medium term positions. It has a major hurdle at Rs 155.

HPCL: The level of Rs 170 would act as a major barrier and unless this level is not crossed, long positons are not advisable. On the lower side it has a strong base at Rs 145.

Pritish Nandy Communication: The stock has posted an impressive close and has crossed a major barrier of Rs 45 with good volumes. Long positions can be taken in the counter with a stop loss of Rs 40. It has a major base at Rs 34. The next hurdle lies at Rs 55.

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