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Trading strategy for March 22, 2000

Himachal Futuristic: The stock has staged a sharp recovery. It has crossed its first major resistance of Rs 1,740 and the next hurdle exits at Rs 1,850. Thereafter, the resistance lies at Rs 1,900. On the lower side, the stock has its first support at Rs 1,642 and then at Rs 1,560.

BHEL: The stock has made a strong base at Rs 120. This can be taken as a reference point for all long positions. It has immediate minor support at Rs 125. On the upper side, the stock has its first resistance at Rs 136. After this the next resistance exits is at Rs 150.

Dr Reddy's: The outlook for this stock appears bright. On the upper side, resistance exists at Rs 1,600 and Rs 1,700, respectively. It has an immediate support at Rs 1,520, whereas major support lies at Rs 1,425.

HDFC: The stock has crossed its first minor resistance and has closed above it which is a strong sign .The stock has its first resistance at Rs 428 and, thereafter, at Rs 450. On the lower side, immediate support for the stock is at Rs 404 and it has a major support at Rs 390.

HCL Infosys: After some consolidation, the stock has closed on a strong note. The stock has a first minor resistance at Rs 645, and thereafter, at Rs 700. On the lower side, first support for the stock is at Rs 603. The next base for the stock exits at Rs 575.

TV 18: The stock has been consolidating and has made a good base at Rs 1,180, which can be used as a reference point for all long positions. On the upper side, the first resistance lies at Rs 1280. The next hurdle is at Rs 1,320.

By Arc Investments & Consulting

Stocks

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