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Trading strategy for March 9, 2000

DSQ Software: After showing initial weakness in the morning session on Wednesday, the stock recovered smartly during the latter half of the day and has closed firm. It has an immediate support at Rs 2350 and then at Rs 2210. On the upper side, the stock does not have any resistance.

Pentamedia: The stock has not yet broken its support level and appears strong. Immediate support for the stock is at Rs 1850 and then at Rs 1800. The rally is likely to accelerate above Rs 2050.

Wipro: The stock has closed near its medium term support levels. It has its immediate base at Rs 6550 and then at Rs 6400. On the upper side, the stock has resistance at Rs 7100.

SSI: The stock has broken its first short term support level. The next support for the stock exits at Rs 5600. On the upper side, it faces resistance at Rs 7000 and then at Rs 7200. Long positions are advisable only above these levels.

Zee Telefilms: The stock looks weak at this stage and has closed near its support level. Long positions should be taken only after it crosses the first resistance at Rs 1520. Next resistance is at Rs 1560. The stock has an immediate support at Rs 1420.

MTNL: This counter appears strong and long positions can be taken with an immediate stop loss of Rs 344. Below this, the next support is at Rs 324. The rally is likely to accelerate above Rs 370.

By Arc Investments & Consulting

Stocks

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