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July 31, 2001
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Money > Stocks > Technicals > Daily technicals July 31, 2001 |
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Trading strategy for August 1, 2001BSE Sensex: The index has taken support at 3240 points, which can be used as an immediate reference point. On the upper side it has an immediate resistance at 3400 and then at 3520 points. Satyam: The stock has been showing sustained weakness and the outlook is likely to deteriorate further below Rs 145. On the upper side it is likely to face a hurdle at Rs 155. Only short positions are recommended in the stock. Reliance: The stock has taken support close to its previous base of Rs 290. This can be used as a stop loss for all long positions. On the upper side it continues to have a hurdle at every level. Immediate resistance lies at Rs 335. Dr Reddy's: The stock continues to do well and is close to its minor hurdle of Rs 1720. The outlook for the counter remains positive and medium term players should hold on to their long positions. It has a good base at Rs 1550, which can be used as a stop loss for all long positions. L&T: The counter is close to its immediate hurdle of Rs 215. The outlook continues to be bearish and no long positions are recommended. It has an immediate base at Rs 202. Arc Investments & Consulting
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