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Trading strategy for February 24, 2000

Satyam Computer: The stock has closed near its short term support level which stands at Rs 4800. Once it breaks this, the next support lies at Rs 3950. The counter will show strength only above Rs 5200.

Dr. Reddy's: Even when the market dipped sharply, the stock managed to remain firm throughout the day, suggesting a strong underlying strength. Long positions can be taken at the current level with an immediate stop loss of Rs 1580. The next support for the stock is at Rs 1480.

HDFC: The stock has gathered momentum after falling continuously for the last six days. Immediate support for the stock lies at Rs 330 and then at Rs 310. On the upper side, the stock has a minor resistance at Rs 370.

Aptech: Technically, the stock looks impressive. A crossover above Rs 2800 is likely to result in a new rally. The stock has good support at Rs 2600. One can take positions keeping these two levels as the reference points.

ICICI: The stock has been gradually showing strength and has crossed its resistance levels. One can take a long position with a stop loss of Rs 150. The stock has a major support at Rs 140. Its position would weaken below this.

Infosys: Infosys has broken its immediate support levels. The stock has its next support at Rs 8620 and then at Rs 7200. The stock has its first resistance at Rs 10,200 and the final resistance at Rs 10,600.

By Arc Investments & Consulting

Stocks

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