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November 15, 2001
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Money > Stocks > Technicals > Daily Technicals November 15, 2001 |
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Trading strategy for November 20, 2001BSE Sensex:Index is approaching its hurdle of 3350. The force in the market is strong and this level could be breached. Immediate support lies at 3270 points and thereafter at 3235 points. At this stage fresh long positions should be added with due care. Many counters have had substantial run and long positions should be taken only after a corrective move.Reliance:The stock is approaching its resistance area of Rs 320. It is likley to further consolidate at this level before any further upmove. On the lower side level of Rs 293 can be used as a stop loss for all short-term positions. Ranbaxy:The stock is in the consolidation mode and has yet to post any upmove. It continues to be in an uptrend. Fresh long positions can be taken above Rs 700 with a stop loss of Rs 678. Grasim:The counter has absorbed substantial selling and the level of Rs 260 would act as strong support level, which can be used as a stop loss for all long positions. Next major support lies only at Rs 235. SBI:The stock has consolidated itself at around these levels. Fresh long positions can be taken at these levels with a Rs 195 as a stop loss. On the upper side major hurdle lies at Rs 225. Arc Investments & Consulting |
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