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Home  » Business » Stock picks of the day

Stock picks of the day

By Morpheus Inc, Hemen Kapadia
June 01, 2006 10:18 IST
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The market has remained under significant amount of pressure, couldn't sustain itself at higher levels and has ended the day clearly in negative territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Pharma, Oil, Consumer Durables and IT have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 10398.61 | Support - 10305, 10192 | Resistance - 10424, 10556

Trading Range - The Sensex opened at 10679.49, moved up to an intra-day high of 10679.49, declined to an intra-day low of 10111.96 and closed at 10398.61.

Review/Outlook - The Sensex has once again reflected weakness by posting a seven trading session low to end sharply in negative territory and this time around on clearly higher volume.  The outlook has turned hazy because of the extreme volatility, a range bound picture is envisaged due to the sharp intra-day movements witnessed yesterday while the downward bias could still persist.      

Indiabulls. (Daily)

Last Close - 294.45 | Support - 291, 263 | Resistance - 297, 341

Trading Range - The scrip opened at 271.00, moved up to an intra-day high of 302.70, declined to an intra-day low of 263.00 and closed at 294.45.

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. 

Rajapal Mill. (Daily)

Last Close - 612.05 | Support - 605, 561 | Resistance - 634, 693

Trading Range - The scrip opened at 558.00, moved up to an intra-day high of 612.85, declined to an intra-day low of 520.00 and closed at 612.05.

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.

Aarti Ind. (Daily)

Last Close - 067.45 | Support - 066, 052 | Resistance - 072, 087

Trading Range - The scrip opened at 059.00, moved up to an intra-day high of 072.50, declined to an intra-day low of 056.00 and closed at 067.45.

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. 

Praj Ind. (Daily)

Last Close - 180.65 | Support - 170, 151 | Resistance - 187, 212 

Trading Range - The scrip opened at 170.15, moved up to an intra-day high of 185.55, declined to an intra-day low of 167.95 and closed at 180.65.

Review/Outlook  - The scrip has reflected strength by moving up virtually from open to close 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

750, 700

762.35

800, 850

Sd

DR. REDDY

1342, 1282

1357.40

1400, 1466

Td

HLL

224, 216

233.70

240, 252

Td 

INFOSYS

2813, 2769

2908.05

2938, 3074

Td 

ITC

155, 144

165.10

168, 180

Td

RIL

950, 900

953.25

1000, 1050

Sd

SATYAM

678, 645

691.15

705, 730

Sd

SBI

830, 800

831.00

850, 871

Td

T MOTORS

750, 700

789.70

800, 850

Td

TISCO

500, 466

516.70

550, 605

Sd 

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 be having positions in the stocks mentioned above.

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