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Stock picks of the day

April 25, 2006 10:04 IST

The market has had a smart opening but hasn't been able to sustain itself at higher levels to end the day in negative territory. Capital Goods, Consumer Durables, FMCG, Metals and Oil have ended positive in varying degrees while Banks, Pharma, IT, Auto and PSU's have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed cautious.

Sensex (Daily)

Last Close - 11915.24 | Support - 11826, 11707 | Resistance - 11931, 12000

Trading Range - The Sensex opened at 12063.73, moved up to an intra-day high of 12071.07, declined to an intra-day low of 11882.48 and closed at 11915.24.

Review/Outlook - The Sensex has shown some amount of intra-day weakness by closing in negative territory but surprisingly enough on lower volume. The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day movement can remain range bound with mild downward bias, in case of an early decline a late recovery can not be ruled out.

Goldiam Int. (Daily)

Last Close - 154.90 | Support - 139, 126 | Resistance - 171, 199

Trading Range - The scrip opened at 148.50, moved up to an intra-day high of 154.90, declined to an intra-day low of 148.50 and closed at 154.90.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Murud. Ceram. (Daily)

Last Close - 127.85 | Support - 117, 088 | Resistance - 131, 149

Trading Range - The scrip opened at 125.00, moved up to an intra-day high of 127.85, declined to an intra-day low of 122.75 and closed at 127.85.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Dharni Sug. (Daily)

Last Close - 061.05 | Support - 059, 042 | Resistance - 064, 090

Trading Range - The scrip opened at 059.45, moved up to an intra-day high of 061.05, declined to an intra-day low of 059.15 and closed at 061.05.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Rel. Ind. Infra. (Daily)

Last Close - 507.15 | Support  - 484, 415 | Resistance - 525, 550 

Trading Range - The scrip opened at 474.40, moved up to an intra-day high of 507.15, declined to an intra-day low of 465.90 and closed at 507.15.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

950, 900

956.65

1000, 1100

Up 

DR. REDDY

1400, 1342

1461.85

1466, 1500

Sd

HLL

281, 266

285.45

295, 305

Up 

INFOSYS

3155, 3074

3203.90

3250, 3453

Sd 

ITC

190, 180

203.00

210, 225

Sd

RIL

950, 900

976.55

1000, 1050

Up

SATYAM

770, 752

773.45

810, 830

Sd

SBI

900, 871

914.85

926, 950

Td

T MOTORS

950, 900

957.55

999, 1050

Sd

TISCO

605, 550

653.10

700, 800

Up 

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, 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, Ob -- Overbought, Os - Oversold.

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 is an active market participant and could be having positions in the stocks mentioned above.

Hemen Kapadia, Morpheus Inc