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Stock picks of the day

December 19, 2007 08:50 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. Capital Goods, FMCG, Oil, Metals, Banks, IT, Auto, Realty, & Tech have ended negative in varying degrees while Consumer Durables, Healthcare & PSU's have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed sombre.

Sensex (Daily)                                                                     

Last Close - 19079.64 | Support - 18833, 18327 | Resistance - 19276, 19621

Trading Range - The Sensex opened at 19339.14, moved up to an intra-day high of 19375.07, declined to an intra-day low of 19009.35 and closed at 19079.64. 

Review/Outlook - The Sensex has had a mixed trading session, has had a good opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 19028 level while resistance at higher levels (19206) – would limit the upside. The outlook has turned positive again while resistance comes in at the 21200+ level and support comes in at the 18833 level.  

Abg Heavy Ind. (Daily)                                               

Last Close - 611.95 | Support - 544, 492 | Resistance - 632, 700

Trading Range - The scrip opened at 580.00, moved up to an intra-day high of 611.95, declined to an intra-day low of 560.00 and closed at 611.95.

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.   

Radha Madhav (Daily)                                               

Last Close - 119.35 | Support - 104, 081 | Resistance - 123, 151

Trading Range - The scrip opened at 109.50, moved up to an intra-day high of 119.35, declined to an intra-day low of 109.00 and closed at 119.35.

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.   

Sanwaria Agro. (Daily)                                       

Last Close - 115.60 | Support - 107, 086 | Resistance - 125, 150

Trading Range - The scrip opened at 111.00, moved up to an intra-day high of 116.05, declined to an intra-day low of 111.00 and closed at 115.60.

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.        

Essar Shipp. (Daily)                                                 

Last Close - 112.70 | Support - 102, 086 | Resistance - 125, 175

Trading Range - The scrip opened at 110.90, moved up to an intra-day high of 112.70, declined to an intra-day low of 109.00 and closed at 112.70.

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

1066.95

1099, 1155

Tu

DR. REDDY

712, 689

717.45

733, 774

Up

HUL

203, 192

211.20

216, 224

Tu

INFOSYS

1510, 1457

1620.50

1667, 1723

Sd

ITC

193, 180

197.85

213, 240

Up

RIL

2724, 2682

2728.85

2805, 2929

Tu

SATYAM

385, 367

404.85

406, 425

Sd

SBI

2279, 2180

2303.70

2331, 2383

Sd

T MOTORS

698, 670

702.25

722, 749

Up

TISCO

762, 731

816.35

820, 858

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.  

Hemen Kapadia, Morpheus Inc