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May 18, 2001
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Money > Stocks > Technicals > Daily technicals May 18, 2001 |
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Trading strategy for May 21, 2001BSE Sensex: As a result of profit booking at higher levels, the Sensex turned from the level of 3700 points on Friday. This makes the level of 3700 as an immediate resistance. A minor base for the index is at around 3600 points. Wipro: The stock remained in negative territory but the fall was not significant. The outlook for the stock will improve above Rs 1700. It has a base at around Rs 1500. Global: This was one of the few software stocks which attracted buying interest on Friday. The level of Rs 195 can be used as a stop loss for long positions. It has a strong hurdle at around Rs 212 and the next resistance lies at Rs 220. Sterlite: The stock has shown a steady improvement in the last few trading sessions and has come close to its hurdle of Rs 142. It has a major base at Rs 118, below which the outlook will turn negative. SBI: The stock has moved in a narrow range for the last few trading sessions. While the base for this stock lies at Rs 230, outlook will improve above Rs 246. Arc Investments & Consulting |
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