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May 8, 2002
1645 IST
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Money > Stocks > Technicals > Daily Technicals May 8, 2002 1645 IST |
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Trading strategy for May 9, 2002BSE Sensex: A firm trend on IT related counters helped the index to gain 10 points on Wendesday. Although it has moved above its first resistance of 3425 points, the uptrend will be difficult to sustain at higher levels. The level of 3298 points is an important support. Zee Tele: The stock formed a good base at Rs 158 which can be used as stop loss for long positions. A sideways to positive move is likely. The stock has a resitance at around Rs 180. Visualsoft: The stock showed a firm trend on Wednesday, and the medium term outlook is still positive. The level of Rs 250 can be used as stop loss for long positions. HFCL: The stock is close to its first hurdle of Rs 75 but chances that it might surpass this level is quite high. The second resistance is likely at around Rs 85. An immediate support lies at Rs 62. MTNL: The medium term position of this stock is favourable, and major hurdle is expected only at around Rs 165. The level of Rs 133 is an important base, and long position should be offloaded below this base. Arc Investments & Consulting |
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