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June 15, 2001
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Money > Stocks > Technicals > Daily technicals June 15, 2001 |
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Trading strategy for June 18, 2001BSE Sensex: Since there was no bounceback in the index, this should be construed as a change in the trend. The main trend of the market continues to be bearish. Though the index has a minor support at 3357, the main reference point lies only at 3096 points. On the upper side, an immediate hurdle is at 3520 points. Infosys: As expected there were no takers for the stock below Rs 3730. It has further broken another minor support of Rs 3560 and the next support is at Rs 3200. Wipro: This is the only stock that has not yet broken its medium-term level of Rs 1516. Immediate resistance lies at Rs 1600. Aksh Optifibre: The stock is in an uptrend and has taken fresh support close to its previous level of Rs 133. This level should be used as a stop loss for all long positions. On the upper side, the level of Rs 160 serves as a major hurdle. ICICI Bank: The stock continues to be in a down trend and has a strong resistance at Rs 155. Unless this level is crossed, no long positions are recommended. Arc Investments & Consulting
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