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Stock picks of the day

July 24, 2008 09:25 IST

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day sharply in positive territory. Auto, FMCG, Healthcare, Oil, PSU, Banks, Metals, Realty, Consumer Durables, Capital Goods & IT have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex

Last Close - 14942.28 | Support - 14732, 14431 | Resistance - 15037, 15330

Trading Range - The Sensex opened at 14568.22, moved up to an intra-day high of 14979.90, declined to an intra-day low of 14568.22 and closed at 14942.28.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14954 level while significant resistance at higher levels (15300) - would limit the upside. The outlook has turned positive again while resistance comes in at the 15300+ level and support comes in at the 12780 level.

Webel Sl Ener

Last Close - 226.80 | Support - 199, 173 | Resistance - 237, 274

Trading Range - The scrip opened at 226.80, moved up to an intra-day high of 226.80, declined to an intra-day low of 211.00 and closed at 226.80.

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.

Lkp Mer. Fin

Last Close - 122.50 | Support - 101, 084 | Resistance - 151, 170

Trading Range - The scrip opened at 122.45, moved up to an intra-day high of 122.60, declined to an intra-day low of 118.00 and closed at 112.50.

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 - 123.05 | Support - 119, 096 | Resistance - 137, 171

Trading Range - The scrip opened at 120.00, moved up to an intra-day high of 123.25, declined to an intra-day low of 117.30 and closed at 123.05.

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.

Kirl. Pneum

Last Close - 410.70 | Support - 399, 357 | Resistance - 437, 489

Trading Range - The scrip opened at 395.00, moved up to an intra-day high of 415.00, declined to an intra-day low of 386.60 and closed at 410.75.

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

573, 520

591.10

615, 656

Up

DR. REDDY

610, 579

632.60

645, 689

Sd

HUL

224, 216

231.05

240, 252

Tu

INFOSYS

1510, 1457

1603.70

1667, 1723

Sd

ITC

180, 169

191.70

193, 13

Up

RIL

2180, 2115

2265.50

2274, 2309

Up

SATYAM

366, 338

377.70

385, 406

Sd

SBI

1539, 1472

1543.80

1564,1 624

Up

T MOTORS

422, 390

437.55

448, 472

Tu

T STEEL

642, 614

667.00

670, 695

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