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Stock picks of the day

July 23, 2008 09:47 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, Consumer Durables, Capital Goods & IT have ended positive in varying degrees while the Auto sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex

Last Close - 14104.20 | Support - 14046, 13872 | Resistance - 14431, 14732

Trading Range - The Sensex opened at 13837.64, moved up to an intra-day high of 14206.13, declined to an intra-day low of 13798.18 and closed at 14104.20.

Review/Outlook - The Sensex has had a mixed trading session, has had a neutral 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 higher volume. Volatility can be the order of the day; an intra-day upside (seems like a formality) could come in above the 14105 level while significant resistance at higher levels (14700) - 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 - 216.00 | Support - 199, 173 | Resistance - 237, 274

Trading Range - The scrip opened at 205.50, moved up to an intra-day high of 216.75, declined to an intra-day low of 205.50 and closed at 216.00.

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 - 116.80 | Support - 101, 084 | Resistance - 151, 170

Trading Range - The scrip opened at 111.00, moved up to an intra-day high of 116.85, declined to an intra-day low of 111.00 and closed at 116.80.

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 - 117.40 | Support - 096, 077 | Resistance - 119, 137

Trading Range - The scrip opened at 111.90, moved up to an intra-day high of 120.00, declined to an intra-day low of 108.00 and closed at 117.40.

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.

Kirl. Pneum

Last Close - 385.45 | Support - 357, 324 | Resistance - 399, 437

Trading Range - The scrip opened at 361.00, moved up to an intra-day high of 390.00, declined to an intra-day low of 361.00 and closed at 385.45.

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.

Daily Stock Track               

Scrip

Support

Last Close

Resistance

Trend

ACC

520, 484

564.50

573, 615

Tu

DR. REDDY

610, 579

627.70

645, 689

Sd

HUL

224, 216

232.55

240, 252

Tu

INFOSYS

1510, 1457

1578.95

1667, 1723

Sd

ITC

180, 169

189.90

193, 13

Up

RIL

2115, 2079

2154.30

2180, 2274

Tu

SATYAM

366, 338

368.35

385, 406

Dt

SBI

1381, 1302

1397.70

1418, 1472

Tu

T MOTORS

390, 367

411.90

422, 448

Tu

T STEEL

614, 586

624.35

642, 670

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