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Trading strategy for August 27, 2002

BSE Sensex: The index has an immediate base at Rs 3110, below which the short-term outlook is likely to turn negative. On the upper side, the rally can continue till 3180 levels.

Infosys: The stock has made an intra-day double top of Rs 3550. This level is likely to act as an immediate hurdle. Correction in the counter can take it to Rs 3200.

Global Tele: The stock has been firm and has corrected in the sideways format. The correction can come to Rs 82 levels, where one can take long positions with a stop loss of Rs 79.

BPCL: The stock posted a sharp correction after crossing its immediate hurdle of Rs 297. The corrective phase is likely to continue, more in a sideways fashion. Long positions should be taken only above Rs 298, with a stop loss of Rs 285.

Tata Power: The stock has a strong reference level at Rs 98. One can start accumulating at these prices with this level as a stop loss. On the upper side, the immediate target is at Rs 114-118 levels.

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