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Trading strategy for June 1, 2000

Wipro: The stock has closed near its major resistance of Rs 1920 and the rally is likely to accelerate once this level is decisively crossed. On the lower side, it has an immedaite support at Rs 1820 and thereafter at Rs 1700. Above Rs 1920, it has its next resistance at Rs 2200 and thereafter at Rs 2700.

HLL: The stock has posted a double top at Rs 2650 which would act as a major hurdle. It has an immediate support at Rs 2550 and therafter at Rs 2500. These levels can be used a stop loss for short term long positions.

ITC: The stock has an immediate resistance at Rs 750 and thereafter a minor resistance exists at Rs 800. On the lower side, it has an immediate support at Rs 710 and thereafter at Rs 680.

L&T: The stock has broken its first support levels of Rs 192 and has closed below it. It also has a support at Rs 185 and then at Rs 175. On the upper side, it has resisitance at Rs 196.

TISCO: The stock has managed to cross major resisitance level of Rs 121 and has closed near it. On the lower side, it has major support at Rs 112 and immediate support lies at RS 118.

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