Search the Internet          Tips  Sites: Finance, Investment

Trading strategy for May 16, 2001

The lows made by most of the stocks in the technology sector on Tuesday would serve as strong reference points in the medium-term. The outlook will deteriorate below these levels.

BSE Sensex: The level of 3460 points would act as a good support for the Sensex. On the upper side, it will continue to face a hurdle at 3640 points. Any outlook is likely to improve above this level.

Infosys: The stock has a strong resistance at Rs 4100, above which medium-term players can take long positions. Strong base for the stock lies at Rs 3750 which should be used as a stop loss for all long positions.

DSQ Software: The stock has a major hurdle at Rs 103 and any position is likely to improve above this level. Immediate base lies at Rs 84 and the position will further deteriorate below this level.

Zee: The stock is close to its first major medium-term barrier of Rs 120. The position of the stock is likely to improve above this level. Next major barrier for the stock is at Rs 150. Immediate base lies at Rs 100.

Nestle: The stock has crossed its major resistance of Rs 560. It has its first major base at Rs 514 and thereafter at Rs 460.

Arc Investments & Consulting

Money

Daily technicals

Tell us what you think of this report