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July 27, 2000
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Money > Daily Technicals July 27, 2000 |
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Trading Strategy for July 28, 2000Sensex: The Sensex did not break the 4050 points level--an immediate support. A good indication. The level of 4100 points can be used as reference point for long positions. On the upper side, it has a resistance at 4370 points. Zee Tele: This stock did not break its Tuesday low. Besides forming a higher bottom, it has also crossed its immediate resistance of Rs 450. It has made a good base at Rs 400 and the next major resistance is at Rs 490. Rolta: Like few other software stocks, this counter has also formed a higher bottom at Rs 255 which can be used as stop loss for long positions. The first hurdle for the stock is at Rs 310. Global Tele: This stock has also formed a double bottom at Rs 892. The stock is close to its first resistance and the next major hurdle is only at Rs 1100. Sterlite: It has taken a support at Rs 790 where it has a good base. This level can be used as stop loss for long positions. The uptrend will gather momentum above Rs 900.
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