Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article
Home > Business > Technicals


Stock picks for Monday

Hemen Kapadia / Morpheus Inc | July 19, 2003 17:01 IST

The market has come under pressure and slipped some more to end in negative territory.

Capital goods, consumer durables, FMCG, pharma, IT and PSUs all came under pressure to end on a negative note while it was the Banking sector which just about finished positive. Volume registered a decrease (read as turnover) while the undertone was shaky.

Sensex -- Last Close -- 3647.50 | Support -- 3545, 3467 | Resistance -- 3651, 3759

Trading Range -- The Sensex opened at 3651.39, moved up to an intra-day high of 3684.23, declined to an intra-day low of 3625.73 and closed at 3647.50.

Review/Outlook -- The Sensex has reflected weakness by closing below the intra-day lows of the previous 5 trading sessions (on lower volume) - while further weakness seems possible.

Hindalco -- Last Close -- 795.90 | Support -- 759, 741| Resistance -- 799, 865

Trading Range -- The scrip opened at 789.80, moved up to an intra-day high of 804.75, declined to an intra-day low of 780.30 and closed at 795.90.

Review/Outlook -- The scrip has reflected strength by giving an upward 'key' reversal (bullish intra-day pattern) and with the oscillators looking strong, further upside seems possible.

Hughes Soft -- Last Close -- 270.60 | Support -- 266, 248| Resistance -- 293, 320

Trading Range -- The scrip opened at 253.90, moved up to an intra-day high of 275.00, declined to an intra-day low of 250.00 and closed at 270.60.

Review/Outlook -- The scrip has reflected strength by giving an upward "key" reversal (bullish intra-day pattern) and with the oscillators signalling a buy, a further upside cannot be ruled out.

L&T -- Last Close -- 274.35 | Support -- 249, 231 | Resistance -- 279, 300

Trading Range -- The scrip opened at 268.95, moved up to an intra-day high of 277.30, declined to an intra-day low of 268.00 and closed at 274.35.

Review/Outlook -- The scrip has closed above a minor supply line and with the oscillators looking positive, further appreciation seems to be on the cards.

Oriental Bank -- Last Close -- 177.75 | Support -- 175, 150 | Resistance -- 200, 225

Trading Range -- The scrip opened at 177.00, moved up to an intra-day high of 180.40, declined to an intra-day low of 170.65 and closed at 177.75.

Review/Outlook -- The scrip has reflected strength by giving an upward 'key' reversal (bullish intra-day pattern) and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track
ScripSupportLast CloseResistanceTrend
ACC166, 155174.40175, 188Sd
HLL141, 127152.45155, 163Td
INFOSYS2985, 24053386.703468, 3977Sd
ITC729, 665744.35759, 802Td
MTNL103, 95105.05115, 124Td
RIL324, 302339.15345, 374Up
SATYAM173, 149173.45199, 224Td
SBI380, 358414.15415, 450Up
TELCO215, 199225.90232, 260Up
TISCO189, 175197.15207, 220Up
GLOSSARY : CMP - Current Market Price, MACD - Moving Average Convergence Divergence, RMI - Relative Momentum Index, RSI - Relative Strength Index, ROC - Rate of Change, EMA - Exponential Moving Average, CMP - Current Market Price, Cls - Closing Price, Support - Level where buying can be expected, Resistance - Level where selling can be expected, Tu - Turning Upwards, Td - Turning Downwards, Sd - Sideways, Up - Uptrend, Dt -Downtrend.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author has no positions in the stocks mentioned above.




Share your comments


Advertisement






Copyright 2006 Rediff.com India Limited. All Rights Reserved.