Search the Internet          Tips  Sites: Finance, Investment

Trading strategy for May 22, 2001

BSE Sensex: The fall on HLL counter had a negative impact on Sensex and the index lost 15 points. The level of 3700 points will continue to be its first major resistance. The immediate base for this stock is at 3590 points and the next support is at around 3460 points.

Himachal: Although the stock gained more than 3 per cent, it failed to cross the first hurdle of Rs 164 on Monday. The level of Rs 150 can be used as a stop loss for long positions.

SSI: The stock managed to remain firm but has a major hurdle at Rs 580, above which the position will improve. The downtrend may accelerate below Rs 540. The next base for this stock is at around Rs 520.

HPCL: The stock has done well in the last couple of days but has a major hurdle at around Rs 182, above which the position will improve smartly. The level of Rs 165 can be used as a stop loss for long positions.

SBI: Like other pivotals, SBI too remained under pressure and has come closer to its first major base of Rs 228. While support is likely around these levels, the position will turn positive above Rs 247.

Arc Investments & Consulting

Money

Daily technicals

Tell us what you think of this report