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Trading Strategy for April 3, 2000

TISCO: After much consolidation, the stock has crossed its first major resistance of Rs 112 and has closed above it. One can expect a good rally from this level which can take the stock to Rs 132. Above this, the next resistance is at Rs 143. It has an immediate support at Rs 111 which can be used as a stop loss. Major support for the stock lies at Rs 102.

ACC: The stock has closed on a strong note well above its first major resistance. It has an immediate support at Rs 136 and then at Rs 133. Major support lies at Rs 125. On the upper side, the stock has its first resistance at Rs 154 and then at around Rs 160.

ITC: The stock is making an attempt to move up. Any decisive crossover above Rs 740 is likely to spark a strong rally in the stocks. The stock has a strong support at Rs 710, which can be used as a stop loss for short-term positions. On the upper side, it has major resistance at Rs 860.

Dr. Reddy's: The stock is moving with the trend and has closed strong. One can expect a positive move in this counter. It has a strong resistance at Rs 1750 and above this, the upmove is likely to accelerate. On the downside, the level of Rs 1350 is a strong base. The immediate support exists at Rs 1550.

Padmini Polymers: The stock has crossed first major resistance of Rs 195 and has closed above it. It has major support at Rs 180 which can be used a stop loss for all long positions. The upmove is likely to accelerate above Rs 210.

Ranbaxy: The stock is making strong attempts to cross its major barrier of Rs 730. Once this is done, the stock is likely to rally. For short-term traders, Rs 690 can be used as a stop loss for long positions. The stock has very strong supports at Rs 670. On the upper side, the first major resistance after Rs 730 is at Rs 920.

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