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Trading strategy for September 30, 2002

BSE Sensex: For the second consecutive day, the market showed extremely dull trend. The outlook is yet to show major signs of improvement, and a sideways to negative move is likely. Be cautious of long positions.

Hinduja TMT: This counter has shown a steady improvement in the last four trading sessions and strong hurdle is likely only at around Rs 320. On the down side, the level of Rs 288 is an important support, and long position should be liquidated below this base.

Visualsoft: This counter has also shown a recovery in the recent past but will have a tough time in crossing its major resistance of Rs 198. One should be out of all long position below Rs 183.

Polaris: For this stock, the level of Rs 220 remains a major hurdle. While a sideways to negative move is likely, the stop loss for all long position should be Rs 198.

Reliance: The stock has been in a corrective mode for the last three weeks and seems to have made a minor base at Rs 250. The short-term position will weaken below this support whereas the outlook will turn positive above Rs 271.

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