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May 9, 2001
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Money > Stocks > Technicals > Daily technicals May 9, 2001 |
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Trading strategy for May 10, 2001With respect to technology stocks, today's high would act as a major barrier and no long positions are recommended unless these levels are crossed. Even in pivotals, long positions should be taken with due care. The outlook can further turn negative. BSE Sensex: The level of 3650 would act as a strong resistance in the near future. Immediate support for the index is at 3540 points. Satyam: The level of Rs 255 would act as a major hurdle for the stock. Immediate support lies at Rs 230 and thereafter at Rs 219. Infosys: The stock has made a double top at Rs 4100, which would act as a strong resistance. The outlook will further deteriorate below Rs 3650. BPCL: The stock has a good base at Rs 192, below which the outlook is likely to deteriorate. Medium-term players can use this level as a stop loss. Cipla: The stock has made a good base at Rs 1060. Immediate hurdle for the stock is at Rs 1175, above which the outlook is further likely to improve. Arc Investments & Consulting |
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