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Stock picks of the day

July 08, 2008 09:11 IST

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

Sensex

Last Close - 13525.99 | Support - 13406, 13146 | Resistance - 13554, 13780

Trading Range - The Sensex opened at 13561.92, moved up to an intra-day high of 13793.39, declined to an intra-day low of 13475.78 and closed at 13525.99.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended mildly in positive territory on higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 13518 level while significant support at lower levels (13335) - would limit the downside. The outlook has turned weak again while resistance comes in at the 14700+ level and support comes in at the 12800 level.

Gayatri Proj

Last Close - 209.60 | Support - 198, 164 | Resistance - 240, 283

Trading Range - The scrip opened at 197.70, moved up to an intra-day high of 209.65, declined to an intra-day low of 197.70 and closed at 209.60.

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.

Jhun. Vanaspati

Last Close - 126.05 | Support - 108, 089 | Resistance - 127, 149

Trading Range - The scrip opened at 125.00, moved up to an intra-day high of 132.40, declined to an intra-day low of 125.00 and closed at 126.05.

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.

Zylog Sys

Last Close - 252.65 | Support - 228, 204 | Resistance - 253, 279

Trading Range - The scrip opened at 248.75, moved up to an intra-day high of 256.90, declined to an intra-day low of 247.00 and closed at 252.65.

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.

Shreeram Ltd

Last Close - 115.25 | Support - 101, 087 | Resistance - 128, 151

Trading Range - The scrip opened at 115.00, moved up to an intra-day high of 115.25, declined to an intra-day low of 108.10 and closed at 115.25.

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.

Daily Stock Track               

Scrip

Support

Last Close

Resistance

Trend

ACC

484, 460

496.20

520, 573

Dt

DR. REDDY

610, 579

539.40

645, 689

Dt

HUL

203, 192

209.45

216, 224

Dt

INFOSYS

1785, 1723

1801.20

1834, 1917

Sd

ITC

169, 155

177.60

180, 193

Dt

RIL

1999, 1915

2028.15

2079, 2115

Dt

SATYAM

475, 443

481.95

493, 522

Dt

SBI

1146, 1101

1171.75

1202, 1258

Dt

T MOTORS

390, 367

392.55

422, 448

Dt

T STEEL

614, 586

651.75

652, 670

Dt

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