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Trading strategy for May 25, 2000

Reliance: The stock has made a strong base at Rs 309. This can be used as a reference point for long positions. It has an immediate resisitance at Rs 317 and long positions can be taken once this is crossed. Above this next resistance is at Rs 328.

Infosys: The stock has immediate resistance at Rs 6150. Further resistance for the stock is at Rs 7000 and then Rs 7400. On the lower side, it has an immediate support at Rs 5750 and major support lies at Rs 5600.

Satyam Computer: The stock has posted triple top at Rs 2700. Long positions can be contemplated above this level with a stop loss of Rs 2550. On the lower side, Rs 2550 serves as immediate support.

Wipro: The stock has strong resistance at Rs 1850, which once crossed can improve the position of the stock marginally. On the lower side, it has an immediate support at Rs 1745 and thereafter at Rs 1700. Below these levels, the position will further deteriorate.

BHEL: The stock has crossed its first minor resisitance of Rs 103 and has closed above it, which is a good sign. It has strong support at Rs 100 levels which can be used as a stop loss for short term long positions. On the upper side, the next hurdle is at Rs 108.

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