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Trading strategy for May 10, 2000

Zee Telefilms: The stock has posted a higher bottom and has closed on a strong note. It has a major resistance at Rs 730 levels. It has a major support at Rs 600 which can be used as a reference point for mediumm term positions.

Satyam Computer: The stock has an immediate resistance at Rs 3550 and thereafter its position is likely to improve. It has an immediate support at Rs 3200 and a major base lies at around Rs 3000 levels. This can be used as a stop loss for long positions.

Infosys: It has made a double bottom at Rs 7000 levels below which the stock is likely to deteriorate. On the upper side, the stock has major resistance at Rs 8600, above which the stock should look good.

Silverline: If it manages to cross its first major barrier of Rs 460, the outlook will improve. On the lower side, it has an immediate support at around Rs 410 and major support lies at Rs 370.

Reliance: A triple bottom has been posted by the stock at Rs 315 levels and this can be used as a stop loss for short term as well as medium term position. On the upper side, it has major resistance at Rs 342.

L&T: The stock has done badly and the position is likely to deteriorate below Rs 210. On the upper side, it has major resistance at Rs 240 and unless this is crossed, no long positions should be committed.

Arc Investments & Consulting

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