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Trading strategy for January 1, 2001

BSE Sensex: For one more day, the index continued its corrective move. The level of 4000 points will continue to act as the first resistance. The second hurdle for the index lies at 4100 points. The level of 3900 points can be considered as an immediate support.

Pentamedia: The stock is yet to move above its first resistance of Rs 300. The outlook will weaken further below Rs 288.

Ranbaxy: The stock has a good base at Rs 650, which should be considered as stop loss for all long positions. A minor base also exists at Rs 660 and the immediate resistance lies at Rs 680.

Aptech: The stock is below its first resistance of Rs 380. It has support at Rs 360 below which the position will weaken further.

Hughes Software: The stock has shown a smart improvement in the last three trading sessions, and has come close to its major hurdle of Rs 900. It has a base at around Rs 760.

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