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July 30, 2001
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Money > Stocks > Technicals > Daily technicals July 30, 2001 |
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Trading strategy for July 31, 2001BSE Sensex: Helped by RPL, RIL, Bhel and ITC, the index gained nearly one per cent on Monday. While the outlook still remains negative, the level of 3242 points can be used as a reference point for long positions. A resistance is expected at around 3335 points. SSI: The stock has made a strong hurdle at Rs 189 and the short-term position should improve only above this level. A support for the stock is at around Rs 142. Balaji Telefilms: The stock has shown a smart rally in the last three days. There is a hurdle at around Rs 200, whereas the next major resistance is at Rs 230. Traders should wait before taking long positions at this level. HFCL: The stock showed a sharp fall and the outlook continues to remain negative. The level of Rs 62 is a major hurdle and the short-term position will start improving only above this level. Ranbaxy: The stock has remained firm in the last few trading sessions. It will find a major hurdle at around Rs 550. The level of Rs 500 can be used as a stop loss for long positions. Arc Investments & Consulting
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