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August 2, 2000
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Money > Daily Technicals August 2, 2000 |
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Trading Strategy for August 3, 2000Sensex: The sensex posted an intra-day higher bottom and made a base at 4190 points. The level of 4300 points still acts as a big hurdle and the short term outlook will improve only above this level. Next resistance lies at 4375 points. Satyam: The stock has its immediate resistance at Rs 2500, which once crossed decisively is likely to improve the counter's position. Next resistance lies at Rs 2600. On the lower side it has an immediate support at Rs 2350 which can be used as a stop loss for short term long positions. SSI: The stock has posted a double bottom at Rs 2175 and this can be used as a stop loss for long positions. The outlook for the counter will improve above Rs 2350. After this the next resistance lies at Rs 2550. DSQ Soft: The level of Rs 615 can be used as a stop loss for short-term positions. Below this the next support lies at Rs 580. On the upper side it has an immediate resistance at Rs 635 and thereafter at Rs 655. Sterlite: The stock has taken support near its previous base of Rs 790. This level should be used as a stop loss for medium term positions and short term traders can also take a short positions below this with a stop loss of Rs 818. Major resistance for the stock lies at Rs 865
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