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Stock picks of the day

By Hemen Kapadia, Morpheus Inc
December 27, 2006 08:06 IST
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The market has actually moved just one way, has come off its intra-day low and has finally ended the day in positive territory. FMCG, Banks, Capital Goods, IT, PSU, Auto, Consumer Durables, Healthcare, Metals & Oil have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 13708.34 | Support - 13652, 13576 | Resistance - 13723, 13790

Trading Range - The Sensex opened at 13501.44, moved up to an intra-day high of 13726.62, declined to an intra-day low of 13490.77 and closed at 13708.34.

Review/Outlook - The Sensex has finally reflected some amount of strength by coming off smartly from its intra-day low by moving in just one direction to end sharply in positive territory on extremely low volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day upside (especially above the 13727 level) while the 13200 level is expected to be the trend decider for the time being.                   

Flex Ind

Last Close - 126.40 | Support - 120, 099 | Resistance - 150, 175

Trading Range - The scrip opened at 122.00, moved up to an intra-day high of 126.40, declined to an intra-day low of 121.55 and closed at 126.40.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards. 

Schenectady-Beck

Last Close - 377.45 | Support - 350, 316 | Resistance - 380, 425

Trading Range - The scrip opened at 349.90, moved up to an intra-day high of 377.45, declined to an intra-day low of 349.90 and closed at 377.45.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Shreeram

Last Close - 560.20 | Support - 557, 479 | Resistance - 626, 700

Trading Range - The scrip opened at 540.00, moved up to an intra-day high of 560.20, declined to an intra-day low of 540.00 and closed at 560.20.

Review/Outlook - The scrip has reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Suashish Diamonds

Last Close - 164.85 | Support - 153, 135 | Resistance - 166, 200

Trading Range - The scrip opened at 151.00, moved up to an intra-day high of 164.85, declined to an intra-day low of 151.00 and closed at 164.85.

Review/Outlook - The scrip has reflected strength by recovering 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

1061, 1022

1063.20

1110, 1155

Sd

DR. REDDY

795, 757

802.15

840, 877

Up

HLL

216, 203

220.80

224, 240

Td

INFOSYS

2133, 2061

2219.65

2270, 2400

Tu

ITC

168, 155

174.55

180, 190

Td

RIL

1241, 1195

1276.75

1293, 1350

Tu

SATYAM

475, 443

476.55

500, 538

Tu

SBI

1190, 1100

1245.90

1250, 1300

Sd

T MOTORS

849, 811

884.40

888, 920

Tu

TISCO

466, 452

477.00

480, 500

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 even be having contrary positions in the stocks mentioned above.  

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Hemen Kapadia, Morpheus Inc
 

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