Trading Strategy for August 18, 2000

Sensex: Sensex could not cross its resistance of 4380 and this level has become even more significant now. Major support yet lies at 4140 points.

Sterlite: The stock has taken resistance close to its previous level of Rs 740 and the short term outlook would further deteriorate below Rs 690. Major resistance lies at Rs 740 and the outlook will improve only once this level is crossed.

Satyam: The stock failed to cross its major resistance of Rs 525. Next support lies only at Rs 450 and therafter at Rs 420. Outlook will improve only once it crosses Rs 525.

Infosys: The stock was unable to cross its resistance of Rs 7800. It broke its first support of Rs 7600 and the next support lies at Rs 7150. The outlook will improve only once the level of Rs 7800 is crossed.

Rolta: The stock did show some signs of strength, but failed to cross its barrier of Rs 280. Further, it has broken its first support of Rs 264 and has closed below it. Next support for the stock is at Rs 246.

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