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Stock picks of the day

July 22, 2008 10:07 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 positive territory. Auto, FMCG, Healthcare, Oil, PSU, Banks, Metals, Realty & Auto have ended positive in varying degrees while Consumer Durables, Capital Goods & IT have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed better.

Sensex

Last Close - 13850.04 | Support - 13780, 13554 | Resistance - 13872, 14046

Trading Range - The Sensex opened at 13782.13, moved up to an intra-day high of 13878.88, declined to an intra-day low of 13581.19 and closed at 13850.04.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 positive territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 13869 level while significant resistance at higher levels (14100) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 14700+ level and support comes in at the 12316 level.

Webel Sl Ener

Last Close - 213.05 | Support - 199, 173 | Resistance - 237, 274

Trading Range - The scrip opened at 213.00, moved up to an intra-day high of 217.00, declined to an intra-day low of 206.00 and closed at 213.05.

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.

Lkp Mer. Fin

Last Close - 111.30 | Support - 101, 084 | Resistance - 151, 170

Trading Range - The scrip opened at 109.90, moved up to an intra-day high of 111.30, declined to an intra-day low of 105.10 and closed at 111.30.

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.

Essar Shipp

Last Close - 110.20 | Support - 096, 077 | Resistance - 119, 137

Trading Range - The scrip opened at 116.20, moved up to an intra-day high of 116.20, declined to an intra-day low of 107.60 and closed at 110.20.

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.

Kirl. Pneum

Last Close - 341.90 | Support - 324, 289 | Resistance - 357, 399

Trading Range - The scrip opened at 310.00, moved up to an intra-day high of 341.90, declined to an intra-day low of 310.00 and closed at 341.90.

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

542.35

573, 615

Sd

DR. REDDY

645, 610

675.65

689, 712

Sd

HUL

224, 216

227.95

240, 252

Sd

INFOSYS

1510, 1457

1561.80

1667, 1723

Td

ITC

169, 155

179.15

180, 193

Tu

RIL

2115, 2079

2153.30

2180, 2274

Tu

SATYAM

366, 338

367.10

385, 406

Dt

SBI

1302, 1258

1347.45

1381, 1418

Tu

T MOTORS

390, 367

420.05

422, 448

Tu

T STEEL

586, 557

598.50

614, 642

Sd

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