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May 22, 2001
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Money > Stocks > Technicals > Daily technicals May 22, 2001 |
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Trading strategy for May 23, 2001BSE Sensex: The index continued to move in a narrow range. It has an immediate hurdle at 3680 and thereafter at 3700 points. On the lower side, it has an immediate base at 3580 points. Wipro: The stock is close to its major hurdle of 1780, above which the outlook is further likely to improve. On the lower side, it has an immediate base at Rs 1720 and thereafter at Rs 1615. Digital: The stock has a major base at Rs 500, which should be used as a stop loss for long positions. On the upper side, it has a hurdle at Rs 530 and a major resistance at Rs 555. Cipla: The stock has been trading close to the area of strong resistance between Rs 1150 and Rs 1175. Immediate base for the stock is at Rs 1110 and thereafter at Rs 1050. The counter is in uptrend and the position is further likely to improve above Rs 1150. Ranbaxy: The stock has made a major base at Rs 450, which should be used as a stop loss for medium-term investors. The stock is in sideways trend and any long positions should be taken with Rs 450 as a stop loss. On the upper side, the next hurdle is at Rs 550. Arc Investments & Consulting |
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