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Stock picks of the day

May 03, 2006 10:56 IST

The market once again shown fine momentum to move up but has run into resistance at higher levels to end the day in positive territory. Banks, Metals, Pharma, Capital Goods, FMCG, Auto, Oil and PSU's have ended positive in varying degrees while Consumer Durables and IT have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 12218.78 | Support - 12200, 12100 | Resistance - 12300, 12400

Trading Range - The Sensex opened at 12103.78, moved up to an intra-day high of 12288.51, declined to an intra-day low of 12103.78 and closed at 12218.78.

Review/Outlook - The Sensex has once again created history to not only post a fresh all time high but has also given an all time high closing on reasonable amount of volume.  The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture seems to be improving again while an intra-day upside above the 12289 level can not be ruled out.  

Sterling Hol. (Daily)

Last Close - 103.35 | Support - 102, 096 | Resistance - 135, 160

Trading Range - The scrip opened at 101.50, moved up to an intra-day high of 103.35, declined to an intra-day low of 101.50 and closed at 103.35.

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. 

Kirloskar Pneum. (Daily) 

Last Close - 434.40 | Support - 400, 350 | Resistance - 450, 500

Trading Range - The scrip opened at 415.50, moved up to an intra-day high of 434.40, declined to an intra-day low of 415.50 and closed at 434.40.

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.

JL Morison. (Daily)

Last Close - 397.95 | Support - 376, 352 | Resistance - 425, 450

Trading Range - The scrip opened at 380.00, moved up to an intra-day high of 397.95, declined to an intra-day low of 375.00 and closed at 397.95.

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. 

Disa India. (Daily)

Last Close - 1289.90 | Support - 1176, 1039 | Resistance - 1300, 1400 

Trading Range - The scrip opened at 1202.00, moved up to an intra-day high of 1289.90, declined to an intra-day low of 1202.00 and closed at 1289.90.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

950, 900

989.40

1000, 1100

Tu 

DR. REDDY

1600, 1500

1681.95

1700, 1800

Tu

HLL

281, 266

292.60

295, 305

Tu

INFOSYS

3155, 3074

3161.30

3250, 3543

Sd

ITC

190, 180

207.40

210, 225

Tu

RIL

1000, 950

1031.45

1050, 1100

Up

SATYAM

750, 730

752.40

770, 810

Os

SBI

926, 900

937.00

950, 1000

Tu

T MOTORS

950, 900

953.60

999, 1050

Sd

TISCO

605, 550

670.65

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