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Trading strategy for April 26, 2000

Reliance Industries: The stock has made a bottom at Rs 310, which can be used as a reference point for all long positions. On the upper side, the next resistance is at Rs 355.

MTNL: The stock has crossed its first barrier of Rs 218 and has closed on a strong note. Immediate support for the stock is at Rs 211 and thereafter at Rs 202. On the upper side, the stock has next resistance at Rs 230 and thereafter major resistance lies at Rs 245.

BSES: The stock has posted a double bottom at Rs 215, which can be used as a stop loss for all long positions. At the same time, it has closed above its first major resistance of Rs 233, which is a very positive sign. The next hurdle for the stock is at Rs 255. Immediate support for the stock lies at Rs 226.

HLL: The stock is ruling close to its medium term support level of Rs 2400. The next base is at Rs 2300. On the upper side, the stock has major resistance at Rs 2600.

Infosys: The stock has posted a double bottom at Rs 6700 which can be used as a stop loss for all long positions. It has an immediate resistance at Rs 7800, and long positons can be contemplated only above this level.

Sterlite: This stock too has posted a double bottom of Rs 630, which can be treated as a stop loss for all long positons. On the upper side, the stock has a minor resistance at Rs 760 and thereafter major resistance lies at Rs 860.

Arc Investments & Consulting

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