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Trading strategy for May 14, 2002

BSE Sensex: It showed a firm trend on Monday as the performance of heavyweights counters was favourable. While the level of 3470 points is an immediate resistance, a minor base for the index lies at around 3400 points. A consolidation is likely in the current range.

NIIT: It was in a corrective mode on Monday, and managed to gain more than 4 per cent. In the process, the level of Rs 240 becomes an important reference point for long position. On the upper side, the level of Rs 270 is an immediate hurdle.

VisualSoft: Although the medium term position for this stock is favourable, it has made a strong hurdle at Rs 307. On the downside, weakness will start below Rs 275.

Polaris: This stock has also formed a double-top at Rs 272, and strength will emerge above this level. On the downside, the level of Rs 244 is an important support.

ACC: In the last five trading sessions, the stock has shown a steady improvement. For the medium term players, the level of Rs 145 should be used as stop loss for long position. It has a strong hurdle at Rs 180 above which the outlook will improve further.

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