This article was first published 19 years ago

Stock picks of the day

April 11, 2007 09:42 IST

The market has remained in a mildly positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, FMCG, Auto, Banks, Metals, PSU, Oil, Capital Goods & Healthcare have ended positive in varying degrees while the IT sector has ended in negative territory. Volume registered a huge increase (read as turnover) while the undertone seemed mixed.

Sensex

Last Close - 13189.54 | Support - 13135, 13030 | Resistance - 13296, 13390

Trading Range - The Sensex opened at 13236.20, moved up to an intra-day high of 13236.20, declined to an intra-day low of 13075.48, and closed at 13189.54.

Review/Outlook - The Sensex has reflected some amount of strength by posting a 9 trading session high, has come off smartly from its intra-day low but has run into resistance from the 55 Day EMA on the daily chart on sharply higher volume. Volatility can be the order of the day; an intra-day upside above the 13244 level seems slightly difficult while the downside seems to be limited to the 13082 level indicating the possibility of a range bound movement. The outlook seems to be slightly better while resistance comes in at the 13400+ level and support comes in at the 12950 level.

Zuari Agro

Last Close - 156.15 | Support - 148, 138 | Resistance - 179, 215

Trading Range - The scrip opened at 153.30, moved up to an intra-day high of 156.15, declined to an intra-day low of 150.05 and closed at 156.15.

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.

Bayer Crop

Last Close - 245.85 | Support - 223, 185 | Resistance - 261, 288

Trading Range - The scrip opened at 242.00, moved up to an intra-day high of 246.10, declined to an intra-day low of 236.55 and closed at 245.85.

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

Ador Weld

Last Close - 196.75 | Support - 187, 163 | Resistance - 207, 231

Trading Range - The scrip opened at 184.20, moved up to an intra-day high of 196.75, declined to an intra-day low of 182.00 and closed at 196.75.

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

TV Today

Last Close - 134.95 | Support - 125, 108 | Resistance - 145, 168

Trading Range - The scrip opened at 128.80, moved up to an intra-day high of 134.95, declined to an intra-day low of 122.15 and closed at 134.95.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

724, 697

746.50

750, 796

Os

DR. REDDY

712, 689

719.90

733, 757

Tu

HLL

203, 192

208.85

216, 224

Tu

INFOSYS

1962, 1883

1998.10

2061, 2133

Os

ITC

155, 144

159.85

168, 180

Tu

RIL

1373, 1342

1381.85

1409, 1450

Sd

SATYAM

443, 425

445.35

475, 500

Td

SBI

973, 950

989.75

1000, 1050

Sd

T MOTORS

698, 670

720.55

722, 749

Tu

TISCO

480, 466

495.55

500, 518

Tu

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.  

 

Moneywiz Live!