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May 28, 2001
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Money > Stocks > Technicals > Daily technicals May 28, 2001 |
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Trading strategy for May 29, 2001BSE Sensex: The significance of the level of 3620 points as a support reference point has further increased. The position is likely to turn negative only below this level. On the upper side, it has managed to cross the immediate hurdle of 3720 points. SSI: The stock has a good base at Rs 545, below which the outlook is likely to turn negative. On the upper side, immediate resistance lies at Rs 570 and the short-term outlook is likely to improve above this level. Reliance: Though the counter is in a medium-term uptrend, it is close to its strong hurdle of Rs 410. Long positions should be taken with caution. It has an immediate support at Rs 390 and thereafter at Rs 375. ITC: The stock has made a strong base at Rs 760, below which the outlook is likely to turn negative. On the upper side, it has an immediate hurdle at Rs 795. BSES: The stock has crossed its first major resistance of Rs 200 and has closed above it. It has a major base at Rs 180, which can be used a stop loss for all long positions. Arc Investments & Consulting |
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