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July 19, 2001
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Money > Stocks > Technicals > Daily technicals July 19, 2001 |
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Trading strategy for July 20, 2001BSE Sensex: The fall showed a slowdown on Thursday as stocks like Bhel, Dr Reddy, Infosys and Satyam provided some help. While a minor base should be considered as 3350 points, strong support lies at 3260 points. The level of 3446 is an important hurdle. Satyam: The counter showed a good recovery during the second half of the day. The level of Rs 165 can be used as an immediate base whereas the level of Rs 185 will act as major resistance. Wipro: Although the counter showed a negative close, the performance was more or less encouraging. It has made a good base at Rs 1320, which can be used as stop loss for long positions. The next support for counter lies at Rs 1260. The position will improve further above Rs 1390. Sterlite Optical: It has taken a support at Rs 234, marginally above its April base. This should be considered as a double bottom and can be used as a stop loss for long positions. The level of Rs 287 is an important hurdle. HCL Tech: The stock has been moving in a band in the last few days. The level of Rs 270 can be considered as an important support, below which position will turn bearish. Immediate resistance for stock is at Rs 310. Arc Investments & Consulting
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