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Trading strategy for September 20, 2002

BSE Sensex: For the second consecutive day, the sentiment remained weak for the software sector. The Index lost 29 points and may get support at around 3000 points. If a bounce occurs, it will face strong hurdle at around 3080 points.

Visualsoft: It has been moving in a broad range and the chances of negative move are quite high. Hence, the stop loss for long position should be Rs 180. On the upper side, strength will emerge above Rs 200.

Wipro: The performance of this stock has been relatively good, and the level of Rs 1280 can be considered as an important base. On the upper side, the outlook will imporove smartly above Rs 1380.

United Phosphorus: The counter is in corrective mode, and the move can last till a level of Rs 145. The level of Rs 130 is an important support for the counter. On the upper side, the outlook will turn extremely bullish above Rs 173.

Ranbaxy: The stock is thinly traded but the medium term outlook for the stock remains positive. The weakness will start below Rs 870, and the medium term outlook will turn negative below Rs 835. On the upper side, position will strengthen further above Rs 930.

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