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Stock picks of the day

September 13, 2007 09:38 IST

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

Sensex (Daily)

Last Close - 15505.36 | Support - 15440, 15341 | Resistance – 15773, 15812

Trading Range - The Sensex opened at 15608.50, moved up to an intra-day high of 15661.44, declined to an intra-day low of 15486.81 and closed at 15505.36.

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has depreciated after facing selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on mildly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 15486 level while support at lower levels (15350) - would limit the downside while a late recovery cannot be ruled out. The outlook seems to be turning bullish again while resistance comes in at the 16400+ level and support comes in at the 14005 level.

Birla Kenna. (Daily)

Last Close - 329.90 | Support - 295, 255 | Resistance - 345, 396

Trading Range - The scrip opened at 328.90, moved up to an intra-day high of 329.90, declined to an intra-day low of 300.00 and closed at 329.90.

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.

Jayant Agro. (Daily)

Last Close - 102.35 | Support - 091, 077 | Resistance - 112, 131

Trading Range - The scrip opened at 101.10, moved up to an intra-day high of 102.25, declined to an intra-day low of 099.15 and closed at 102.25.

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.

Tanla Sol. (Daily)

Last Close - 530.90 | Support - 525, 500 | Resistance - 550, 600

Trading Range - The scrip opened at 489.90, moved up to an intra-day high of 530.90, declined to an intra-day low of 485.00 and closed at 530.90.

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.(Daily)

Last Close - 077.00 | Support - 072, 056 | Resistance - 087, 100

Trading Range - The scrip opened at 071.00, moved up to an intra-day high of 077.00, declined to an intra-day low of 070.20 and closed at 077.00.

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

1099, 1075

1101.85

1155, 1192

Up

DR. REDDY

645, 610

646.35

669, 689

Sd

HUL

216, 203

217.10

224, 240

Up

INFOSYS

1785, 1723

1820.05

1834, 1878

Sd

ITC

180, 168

180.00

193, 213

Up

RIL

2000, 1948

2012.95

2050, 2100

Up

SATYAM

425, 406

428.80

443, 471

Sd

SBI

1608, 1591

1624.15

1652, 1726

Up

T MOTORS

670, 635

685.35

698, 722

Sd

TISCO

695, 670

711.30

731, 750

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 even be having contrary positions in the stocks mentioned above.

Hemen Kapadia, Morpheus Inc