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Trading Strategy for the week ending June 11, 2000

For the first time in the last four months, software and pharma stocks showed signs of revival. Most of these stocks have crossed their first major resistance levels. This is the first sign of a reversal.

For this reason, after a period of nearly five months for the first time we feel that, one can start taking serious long positions in certian software as well as select pharma counters.

While a major part of the correction has taken place in software stocks a large number of pharma stocks appear attractive for long positions at this juncture.

Below mentioned stocks can be bought with their respective stop losses as mentioned in the bracket.

Among the pharma stock the more attractive one are
German Remedies (Rs 620) Glaxo (Rs 330), Pfizer (Rs 1040), Sun Pharma (Rs 425), Fulford (Rs 210), Glenmark Pharma (Rs 250), Hoechst Mar (Rs 430), E Merck (Rs 325), Parke Davis (Rs 260), Smithkline Pharma (Rs 142).

Among the software stocks the more attractive ones are
Silverline (Rs 450), Satyam Computers (Rs 2450), Global Tele (Rs 1000), Wipro (Rs 1750), Pentamedia (Rs 430), Moser Baer (Rs 270), HCL Tech (Rs 1100).

By Arc Investments and Consulting

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