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Trading strategy for June 16, 2000

Sensex: Sensex has posted a higher bottom and the level of 4560 still holds true for long positions. On the upper side it has a resisitance at 4720 and thereafter at 4780.

Satyam Computer: The stock has crossed a major resistance of 3150 and the outlook will improve once it crosses Rs 3180. Long positions can be taken above this level with stop loss of Rs 2970. On the upper side it has next resistance at Rs 3300 levels.

Infosys: The stock has crossed its major resistance and has closed on a very strong note. On the upper side it has an immediate minor resisitance at Rs 8700. Above this there are no barriers untill Rs 11,000.

Sterlite: The stock has minor resistance at Rs 770 levels and once this is crossed the momentum in this stock is likely to increase. On the lower side it has an immediate support at Rs 740 level which can be used as a stop loss for long positions.

Pentamedia: The stock has closed near its resisitance level of Rs 625. Once these levels are decisively crossed, long positions can be taken in this counter. Further on the upper side it has resistance at Rs 660 levels. On the lower side it has support at Rs 590.

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