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Trading Strategy for the week ending June 18, 2000

For the first time in the last two weeks, software stocks have shown signs of weakness. The chances of a corrective move on the downside appear bright. However, if these stocks do take an upward direction, the outlook will become extremely bullish once this week's tops are crossed. Above these levels, one should take long positions.

The resistance for these counters are mentioned below in the bracket. Pentamedia (Rs 670), Infosys (Rs 8200), Global Tele (Rs 1400), Zee Tele (Rs 660), DSQ Software (Rs 1030), Wipro (Rs 2500), SSI (Rs 2900), Digital Equipment (Rs 700), Hughes Software (Rs 3400), HCL Infosystems (Rs 390), HCL Technologies (Rs 1520) and Polaris (Rs 950).

By Arc Investments and Consulting

Stocks

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