Trading Strategy for August 30, 2000

BSE Sensex: The Sensex has made a minor support at 4370, but has yet to cross any resistance. Any improvement in the Sensex is likely to come from technology stocks. Immediate resistance lies at 4500 points.

Wipro: The stock has closed above its major resistance of Rs 3150 and appears bullish. One can take long positions with a stop loss of Rs 3060. Below this level, the next base lies at Rs 3010.

Digital Equipment: The stock has crossed a major resistance of Rs 512 and has closed on a very positive note. On the lower side it has an immediate support at Rs 505 and a major base lies at Rs 490. On the upper side, it has a minor resistance at Rs 630.

Satyam Computer: The stock has crossed as a minor intra-day resistance. Immediate resistance lies at Rs 565 and a major barrier is at Rs 585. On the lower side, it has support at Rs 545.

Global Tele: The stock has been moving in a band and has a major support at Rs 1050. This level can be used as a stop loss for short-term long positions. On the upper side, the position is likely to improve above Rs 1080. The next barrier lies at Rs 1120.

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