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Stock picks of the day

March 13, 2008 09:52 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 positive territory. Banks, Capital Goods, Oil, Realty & Healthcare have ended positive in varying degrees while Consumer Durables, FMCG, IT, Auto, Metal & PSU's has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky

Sensex (Daily)                                                                               

Last Close - 16127.98 | Support - 15956, 15734  | Resistance - 16165, 16308

Trading Range - The Sensex opened at 16541.14, moved up to an intra-day high of 16683.37, declined to an intra-day low of 16064.09 and closed at 16127.98. 

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 16119 level while significant support at lower levels (15809) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Radha Madhav. (Daily)  

Last Close - 076.65 | Support - 060, 047 | Resistance - 079, 093

Trading Range - The scrip opened at 074.95, moved up to an intra-day high of 076.65, declined to an intra-day low of 074.95 and closed at 076.65.

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.   

Modern India. (Daily)                                               

Last Close - 205.05 | Support - 185, 151 |   Resistance - 216, 274

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 205.05, declined to an intra-day low of 178.40 and closed at 205.05.

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.   

Shiv Vani Oil. (Daily)                                       

Last Close - 568.65 | Support - 543, 510 | Resistance - 597, 649

Trading Range - The scrip opened at 559.70, moved up to an intra-day high of 580.00, declined to an intra-day low of 542.00 and closed at 568.65.

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.        

Spanco Tele. (Daily)                                              

Last Close - 191.40 | Support - 185, 156 | Resistance - 201, 230

Trading Range - The scrip opened at 186.00, moved up to an intra-day high of 191.40, declined to an intra-day low of 176.35 and closed at 191.40.

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

778, 750

807.25

829, 856

Tu

DR. REDDY

530, 487

552.80

579, 610

Sd

HUL

216, 203

221.75

224, 240

Sd

INFOSYS

1325, 1273

1384.05

1385, 1425

Sd

ITC

180, 169

190.35

193, 213

Sd

RIL

2309, 2274

2376.20

2426, 2539

Tu

SATYAM

366, 338

379.25

385, 406

Sd

SBI

1802, 1760

1807.90

1960, 2010

Sd

T MOTORS

635, 600

644.90

670, 698

Sd

T STEEL

762, 731

766.45

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