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Home  » Business » Stock picks of the day

Stock picks of the day

By Hemen Kapadia, Morpheus Inc
June 15, 2006 10:28 IST
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The market hasn't been able to sustain itself at higher levels and has ended the day clearly in negative territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Pharma, Consumer Durables and IT have ended negative in varying degrees while the Oil sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed weak.

Sensex (Daily) 

Last Close - 8929.44 | Support - 8822, 8772 | Resistance - 8960, 9034

Trading Range - The Sensex opened at 9156.97, moved up to an intra-day high of 9387.06, declined to an intra-day low of 8799.01 and closed at 8929.44.

Review/Outlook - The Sensex has continued to reflect weakness while it hasn't be able to sustain itself at higher levels to end once again in negative territory but on clearly higher volume. The outlook remains negative and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day downside could come in only below the 8799 level.                 

Hind Sanitary. (Daily)

Last Close - 089.75 | Support - 069, 048 | Resistance - 098, 117

Trading Range - The scrip opened at 094.50, moved up to an intra-day high of 102.50, declined to an intra-day low of 089.35 and closed at 089.75.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

Binani Ind. (Daily)

Last Close - 122.20 | Support - 095, 077 | Resistance - 125, 162

Trading Range - The scrip opened at 122.20, moved up to an intra-day high of 126.00, declined to an intra-day low of 122.20 and closed at 122.20.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Kalyani Stl. (Daily)

Last Close - 197.10 | Support - 166, 127 | Resistance - 202, 264

Trading Range - The scrip opened at 215.15, moved up to an intra-day high of 233.25, declined to an intra-day low of 195.80 and closed at 197.10.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Kirl. Oil. Eng. (Daily) 

Last Close - 156.80 | Support - 121, 093 | Resistance - 158, 179 

Trading Range - The scrip opened at 173.00, moved up to an intra-day high of 184.90, declined to an intra-day low of 154.00 and closed at 156.80.

Review/Outlook -  The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

668, 639

696.30

697, 724

Sd

DR. REDDY

1150, 1089

1164.45

1225, 1282

Os

HLL

183, 172

186.15

192, 203

Dt

INFOSYS

2460, 2363

2483.50

2537, 2650

Dt 

ITC

144, 136

147.65

155, 168

Dt

RIL

858, 820

859.35

897, 925

Dt

SATYAM

560, 531

574.00

580, 594

Dt

SBI

725, 695

741.05

784, 809

Dt

T MOTORS

635, 600

659.90

670, 698

Dt

TISCO

381, 373

384.95

390, 411

Dt

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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Hemen Kapadia, Morpheus Inc
 

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