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Stock picks of the day

Last updated on: November 25, 2005 10:33 IST

The market has staged a smart rally to move up virtually from open to close to end sharply in positive territory. Banks, Capital Goods, Consumer Durables, FMCG, Pharma, IT and PSU have all ended positive in varying degrees while no sector has ended in negative territory. Volume registered a mild decrease (read as turnover) while the undertone seemed optimistic.

Sensex (Daily)

Last Close - 8744.04 | Support - 8726, 8648 | Resistance - 8772, 8822

Trading Range - The Sensex opened at 8655.14, moved up to an intra-day high of 8765.71, declined to an intra-day low of 8655.14 and closed at 8744.04.

Review/Outlook - The Sensex's has continued with its merry ways and has gone ahead to post a strong rally yesterday to once again end sharply in positive territory while the disconcerting factor is the lower volume accompanying the rise for the 2nd session in a row. Resistance can be expected at the all time high level of 8822.         

Shriram Invest. (Daily)

Last Close - 101.25 | Support - 099, 094 | Resistance - 111, 127 

Trading Range - The scrip opened at 098.90, moved up to an intra-day high of 101.25, declined to an intra-day low of 098.05 and closed at 101.25.

Review/Outlook - The scrip has reflected strength by closing above the 55 Day Moving Average and with the indicators looking positive, a further upside seems to be on the cards. 

Taneja Aero. (Daily)

Last Close - 139.25 | Support - 135, 120 | Resistance - 144, 169

Trading Range - The scrip opened at 135.00, moved up to an intra-day high of 139.25, declined to an intra-day low of 135.00 and closed at 139.25.

Review/Outlook - The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards. 

Wipro (Daily)

Last Close - 437.70 | Support - 414, 388 | Resistance - 439, 464

Trading Range - The scrip opened at 434.80, moved up to an intra-day high of 440.00, declined to an intra-day low of 431.50 and closed at 437.70.

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.  

Vid. Int'nl (Daily)

Last Close - 088.15 | Support - 080, 070 | Resistance - 100, 119 

Trading Range - The scrip opened at 087.70, moved up to an intra-day high of 089.00, declined to an intra-day low of 086.75 and closed at 088.15.

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

500, 477

507.10

550, 600

Up

DR. REDDY

879, 850

922.65

934, 998

Up 

HLL

172, 163

176.75

183, 192

Tu 

INFOSYS

2650, 2537

2700.90

2769, 2813

Up 

ITC

126, 117

134.65

136, 144

Tu 

RIL

810, 780

844.35

850, 900

Up 

SATYAM

616, 580

642.80

645, 700

Td

SBI

900, 850

900.50

950, 1000

Sd

T MOTORS

543, 518

555.70

568, 600

Up 

TISCO

331, 316

342.45

349, 361

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.

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Sebi Disclosure: The author is an active market participant and could be having positions in the stocks mentioned above.

Hemen Kapadia, Morpheus Inc