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Trading strategy for May 16, 2002

BSE Sensex: Level of 3480 would act as a strong short-term resistance for the index. Major base continues to be at 3300, below which the outlook will further turn negative.

Satyam Comp: After openeing on a positive note the counter posted a substantial fall with high volumes and has closed on a negative note.

On the lower side there is a minor support at Rs 247. On the upper side major hurdle lies at Rs 261 level.

Unless this level is crossed in the short term no long positions are recommended.

Global Tele: The stock has fallen significantly from the 150 levels. Medium term long positions can be taken in the counter with a stop loss of Rs 110. On the whole position appears positive for the counter.

Sterlite Optical: The stock has an immediate resistance at Rs 136. Short positions can be taken in the stock at current levels with a stop loss of Rs 136. On the lower side next base is at Rs 110.

SBI: The stock has a major base at Rs 215. This level can be used as a stop loss for all long positions. On the upper side immediate hurdle for the counter lies at Rs 236.

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