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Rediff.com  » Business » Nelco, Ansal, Swan Mills worth looking at

Nelco, Ansal, Swan Mills worth looking at

February 08, 2007 09:28 IST

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory.

Consumer Durables, Metals, PSU, Banks, Capital Goods, Auto, IT & Healthcare have ended positive in varying degrees while FMCG & Oil have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 14643.13; Support -- 14600, 14524; Resistance -- 14700, 14800

Trading Range: The Sensex opened at 14493.56, moved up to an intra-day high of 14663.26, declined to an intra-day low of 14478.45, and closed at 14643.13.

Review/Outlook: The Sensex has reflected significant amount of strength by not only posting an all time high but has also closed at an all time high, has remained positive to come off from its intra-day low and has finally ended in positive territory on distinctly lower volume. Volatility can be the order of the day, the positives of the last trading session might just spill over to today's trading session indicating the possibility of an intra-day upside especially above the 14663 level while strong support at lower levels (14478) could mean a rather limited downside.

Nelco Limited (Daily)

Last Close -- 118.70; Support -- 109, 086; Resistance -- 130, 164

Trading Range: The scrip opened at 108.50, moved up to an intra-day high of 118.70, declined to an intra-day low of 108.00 and closed at 118.70.

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.

Ansal Infra (Daily)

Last Close -- 868.00; Support -- 850, 800; Resistance -- 900, 950

Trading Range: The scrip opened at 870.00, moved up to an intra-day high of 879.55, declined to an intra-day low of 818.05 and closed at 868.00.

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.

Aarvee Denim (Daily)

Last Close -- 117.10; Support -- 103, 075; Resistance -- 119, 145

Trading Range: The scrip opened at 114.70, moved up to an intra-day high of 117.10, declined to an intra-day low of 112.60 and closed at 117.10.

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.

Swan Mills (Daily)

Last Close -- 108.20; Support -- 108, 095; Resistance -- 126, 150

Trading Range: The scrip opened at 107.70, moved up to an intra-day high of 108.20, declined to an intra-day low of 104.00 and closed at 108.20.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

1061, 1022

1062.80

1110, 1155

Sd

DR. REDDY

733, 700

746.15

757, 795

Td

HLL

203, 192

207.50

216, 224

Td

INFOSYS

2325, 2270

2358.75

2400, 2500

Up

ITC

168, 155

175.65

180, 190

Up

RIL

1373, 1342

1394.35

1409, 1450

Up

SATYAM

475, 443

490.25

500, 538

Sd

SBI

1190, 1166

1196.70

1225, 1250

Up

T MOTORS

888, 849

902.05

920, 944

Td

TISCO

452, 437

464.30

466, 480

Sd

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 even be having contrary positions in the stocks mentioned above.

Hemen Kapadia / Morpheus Inc in Mumbai