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June 29, 2001
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Money > Stocks > Technicals > Daily technicals June 29, 2001 |
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Trading strategy for July 2, 2001BSE Sensex: Immediate support continues to be at 3370 points and a major base lies at 3290 points. These would broadly act as reference points for the short-term. On the upper side, it has crossed an immediate resistance of 3430 points. Major hurdle lies at 3525 points and the medium-term outlook is likely to improve above this level. Infosys: The stock is approaching its immediate resistance level of Rs 3900. Immediate support lies at Rs 3640. Wipro: The stock has failed to recover and continues to be weak. It has an immediate base at Rs 1320, below which the outlook is likley to turn negative. On the upper side, immediate hurdle lies at Rs 1480. Cipla: The counter has shown significant strength and is further likley to gather momentum. It has already crossed its immediate hurdle of Rs 1150 and has closed near it. A major base continues to be at Rs 1080. Next resistance lies at Rs 1220. Bhel: Extreme volatility was witnessed in the stock. Major base lies at Rs 163, which can be used as a stop loss for all long positions. The counter looks attractive at this level. Immediate resistance lies at Rs 195. Arc Investments & Consulting
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