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Stock picks for today

August 02, 2007 09:31 IST

The market has remained in a negative state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, FMCG, PSU, Capital Goods, Consumer Durables, Metal, Healthcare, Auto, Oil & IT have ended positive in varying degrees while no sector has ended in negative territory.

Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex (Daily)

Last Close -- 14935.77; Support -- 14830, 14723; Resistance -- 14964, 15115

Trading Range: The Sensex opened at 15344.02, moved up to an intra-day high of 15344.02, declined to an intra-day low of 14910.52 and closed at 14935.77.

Review/Outlook: The Sensex has had a negative trading session, has had a weak opening, has depreciated after facing selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (is a possibility) could come in above the 15020 level while some support at lower levels (14805) -- could limit the downside. The outlook seems to have turned negative again while resistance comes in at the 16000+ level and support comes in at the 14800 level.

Hardcastle Waud (Daily)

Last Close -- 206.15; Support -- 196, 171; Resistance -- 223, 245

Trading Range: The scrip opened at 201.00, moved up to an intra-day high of 206.15, declined to an intra-day low of 201.00 and closed at 206.15.

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.

Mount Shivalik (Daily)

Last Close -- 086.00; Support -- 080, 067; Resistance -- 088, 100

Trading Range: The scrip opened at 086.00, moved up to an intra-day high of 086.00, declined to an intra-day low of 082.35 and closed at 086.00.

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.

Kanoi Paper (Daily)

Last Close -- 022.70; Support -- 019, 014; Resistance -- 025, 032

Trading Range: The scrip opened at 020.00, moved up to an intra-day high of 022.70, declined to an intra-day low of 020.00 and closed at 022.70.

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.

Sulzer India (Daily)

Last Close -- 466.40; Support -- 448, 414; Resistance -- 475, 500

Trading Range: The scrip opened at 435.95, moved up to an intra-day high of 466.40, declined to an intra-day low of 435.95 and closed at 466.40.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

965, 924

965.90

994, 1057

Td

DR. REDDY

610, 579

622.45

645, 669

Td

HUL

192, 183

201.70

203, 216

Tu

INFOSYS

1883, 1812

1929.60

1962, 2009

Td

ITC

155, 144

167.10

168, 180

Up

RIL

1785, 1737

1798.00

1834, 1878

Sd

SATYAM

443, 425

469.70

471, 496

Sd

SBI

1531, 1500

1548.25

1591, 1625

Sd

T MOTORS

670, 635

667.10

698, 722

Sd

TISCO

617, 593

622.40

646, 670

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.

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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