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Hot stocks of the day

August 30, 2007 10:02 IST

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

Sensex

Last Close - 14993.04 | Support - 14964, 14830 | Resistance - 15115, 15216

Trading Range - The Sensex opened at 14651.49, moved up to an intra-day high of 15029.53, declined to an intra-day low of 14592.11 and closed at 14993.04.

Review/Outlook - The Sensex has had a volatile trading session, has had a weak opening, has appreciated after receiving buying support at lower levels, has come off from its intra - day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a formality) could come in above the 15029 level while resistance at higher levels (15215) - would limit the upside. The outlook seems to be turning stable again while resistance comes in at the 15550+ level and support comes in at the 14005 level.

Paradyne Inf

Last Close - 210.50 | Support - 200, 184 | Resistance - 228, 250

Trading Range - The scrip opened at 206.90, moved up to an intra-day high of 215.00, declined to an intra-day low of 205.00 and closed at 210.50.

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

Jmc Projects

Last Close - 299.80 | Support - 278, 249 | Resistance - 310, 340

Trading Range - The scrip opened at 285.00, moved up to an intra-day high of 302.00, declined to an intra-day low of 283.50 and closed at 299.80.

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

Radha Madhav

Last Close - 071.30 | Support - 067, 056 | Resistance - 072, 087

Trading Range - The scrip opened at 068.50, moved up to an intra-day high of 073.35, declined to an intra-day low of 068.50 and closed at 071.30.

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

Swan Mills

Last Close - 088.95 | Support - 071, 042 | Resistance - 095, 108

Trading Range - The scrip opened at 084.80, moved up to an intra-day high of 089.00, declined to an intra-day low of 083.70 and closed at 088.95.

Review/Outlook - The scrip has reflected strength by appreciating 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

1025, 994

1041.15

1057, 1075

Up

DR. REDDY

610, 579

630.20

645, 669

Sd

HUL

192, 183

202.00

203, 216

Tu

INFOSYS

1834, 1785

1834.00

1878, 1910

Sd

ITC

168, 155

168.55

180, 193

Tu

RIL

1877, 1835

1889.80

1911, 1948

Tu

SATYAM

443, 425

445.30

471, 496

Tu

SBI

1509, 1470

1574.90

1591, 1636

Up

T MOTORS

635, 610

675.00

698, 722

Tu

TISCO

646, 617

659.85

670, 695

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.

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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