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Stock picks of the day

July 09, 2008 09:11 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 negative territory. FMCG, Consumer Durables, IT, Realty, Healthcare, Oil & Auto have ended negative in varying degrees while Banks, Capital Goods, Metal & PSU's have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex

Last Close - 13349.65 | Support - 13146, 12899 | Resistance - 13406, 13554

Trading Range - The Sensex opened at 13292.80, moved up to an intra-day high of 13451.67, declined to an intra-day low of 13049.96 and closed at 13349.65.

Review/Outlook - The Sensex has had a mixed trading session, has had a negative opening, has moved both ways, has faced buying support at lower levels, has come off from its intra - day low and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 13354 level while significant resistance at higher levels (13526) - would limit the upside. 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 - 214.65 | Support - 198, 164 | Resistance - 240, 283

Trading Range - The scrip opened at 210.00, moved up to an intra-day high of 218.00, declined to an intra-day low of 199.25 and closed at 214.65.

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.

Walchand Ind

Last Close - 234.30 | Support - 215, 184 | Resistance - 244, 283

Trading Range - The scrip opened at 221.00, moved up to an intra-day high of 234.30, declined to an intra-day low of 215.00 and closed at 234.30.

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.

Zylog Sys

Last Close - 254.45 | Support - 253, 228 | Resistance - 279, 321

Trading Range - The scrip opened at 247.00, moved up to an intra-day high of 256.80, declined to an intra-day low of 244.00 and closed at 254.45.

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.

Radhe Develop

Last Close - 076.90 | Support - 069, 045 | Resistance - 095, 128

Trading Range - The scrip opened at 075.80, moved up to an intra-day high of 076.90, declined to an intra-day low of 072.00 and closed at 076.90.

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.

Daily Stock Track               

Scrip

Support

Last Close

Resistance

Trend

ACC

520, 484

527.00

573, 615

Sd

DR. REDDY

610, 579

644.05

645, 689

Dt

HUL

203, 192

209.60

216, 224

Dt

INFOSYS

1723, 1667

1736.00

1785, 1834

Sd

ITC

169, 155

171.85

180, 193

Dt

RIL

1915, 1842

1978.60

1999, 2079

Dt

SATYAM

443, 425

467.55

475, 493

Dt

SBI

1202, 1146

1204.45

1258, 1302

Dt

T MOTORS

367, 326

376.35

390, 422

Dt

T STEEL

614, 586

651.40

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