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June 25, 2001
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Money > Stocks > Technicals > Daily technicals June 25, 2001 |
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Trading strategy for June 26, 2001BSE Sensex: While the software stocks witnessed panic selling on Monday, the index lost only 63 points as Infosys did not participate in a major way. The index is close to its minor base of 3295 points. The next base for Sensex is at around 3096 points. Wipro: The stock was one of the worst hit. With a fall of more than 13 per cent, it is approaching its next support of Rs 1200. The hurdle continues to be at Rs 1590. Gujarat Ambuja: Unlike other cement stocks, Gujarat Ambuja has managed to remain firm in the last couple of days. The outlook for this stock will improve further above Rs 188, whereas the level of Rs 181 can be used as a stop loss for long positions. The next resistance for the stock is at around Rs 200. Dr Reddy: It is one of the few counters which managed to do well on Monday. The stock is above its medium-term hurdle and the outlook appears positive. The level of Rs 1450 can be used as a stop loss for long positions. The next major resistance for the stock is at around Rs 1790. Tisco: The stock showed a marginal fall on Monday. The stock is close to its base of Rs 113, but any rally should be considered as a corrective move. The level of Rs 130 will act as major hurdle for the counter. Arc Investments & Consulting
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