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Stock picks for September 5
Hemen Kapadia/ Morpheus Inc |
September 04, 2003 22:19 IST
The market remained range bound but came off its low to end in positive territory.
Banks, consumer durables, FMCG, and capital goods all ended quite negative in varying degrees while IT, pharma and PSUs ended on a positive note.
Volume registered an increase (read as turnover) while the undertone was better.
Sensex --Last Close: 4310.51 | Support: 4166, 4028 | Resistance: 4328, 4554
Trading Range -- The Sensex opened at 4276.40, moved up to an intra-day high of 4328.37, declined to an intra-day low of 4257.41 and closed at 4310.51.
Review/Outlook -- The Sensex reflected indecision by staying within the previous day's trading range but recovered from its intra-day low to end in positive territory on higher volume. An intra-day upside above the 4328 level seems like a possibility.
Sterlite Optical --Last Close: 62.55 | Support: 48, 39 | Resistance: 63, 80
Trading Range -- The scrip opened at 55.90, moved up to an intra-day high of 63.40, declined to an intra-day low of 55.05 and closed at 62.55.
Review/Outlook -- The scrip reflected strength by giving an upward breakout from a consolidation pattern and with the indicators looking up, a further upside seems to be on the cards.
GlaxoSmthKline Consumer --Last Close: 302.50 | Support: 250, 198 | Resistance: 306, 340
Trading Range -- The scrip opened at 297.95, moved up to an intra-day high of 320.00, declined to an intra-day low of 291.05 and closed at 302.50.
Review/Outlook -- The scrip is in the midst of an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.
Siemens --Last Close: 435.65 | Support: 397, 344 | Resistance: 445, 500
Trading Range -- The scrip opened at 437.00, moved up to an intra-day high of 443.00, declined to an intra-day low of 434.00 and closed at 435.65.
Review/Outlook -- The scrip has reflected strength by posting a 43-month high and with the oscillators looking positive, further appreciation seems to be on the cards.
Digital --Last Close: 532.75 | Support: 494, 451 | Resistance: 536, 575
Trading Range -- The scrip opened at 510.00, moved up to an intra-day high of 535.00, declined to an intra-day low of 509.00 and closed at 532.75.
Review/Outlook -- The scrip has reflected strength by posting a 6-month high and with the indicators looking strong, a further upside seems to be on the cards.
| Scrip | Support | Last Close | Resistance | Trend | | ACC | 203, 188 | 212.55 | 219, 243 | Sd | | HLL | 183, 172 | 187.05 | 192, 203 | Sd | | INFOSYS | 3977, 3468 | 4219.00 | 4360, 4816 | Up | | ITC | 802, 729 | 812.60 | 882, 963 | Sd | | MTNL | 115, 103 | 120.35 | 124, 139 | Sd | | RIL | 407, 374 | 410.50 | 452, 500 | Up | | SATYAM | 224, 199 | 251.35 | 253, 301 | Up | | SBI | 415, 380 | 430.10 | 450, 488 | Sd | | TELCO | 260, 232 | 274.55 | 284, 302 | Up | | TISCO | 231, 220 | 258.30 | 260, 295 | 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, CMP - Current Market Price, 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. | 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 has no positions in the stocks mentioned above |
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