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Home  » Business » Stock picks of the day

Stock picks of the day

By Hemen Kapadia, Morpheus Inc
July 03, 2006 09:29 IST
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The market has had a volatile trading session to move up from open to close and has finally ended the day in positive territory. Banks, Consumer Durables, Pharma, PSU, Capital Goods, FMCG, IT, Auto, Oil, FMCG and Metals have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close - 10609.25 | Support - 10556, 10424 | Resistance - 10662, 10740

Trading Range - The Sensex opened at 10316.12, moved up to an intra-day high of 10626.84, declined to an intra-day low of 10316.12 and closed at 10609.25.

Review/Outlook - The Sensex has once again reflected a surprising amount of strength to stage a smart upmove and has also managed to close above the 10500 mark on noticeably higher volume. The outlook remains hazy and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in only below the 10627 level while intra-day support comes in at the 10530 level.                             

Binani Ind. (Daily)

Last Close - 141.30 | Support - 125, 092 | Resistance - 162, 200

Trading Range - The scrip opened at 139.80, moved up to an intra-day high of 141.30, declined to an intra-day low of 137.50 and closed at 141.30.

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. 

Foseco India. (Daily)

Last Close - 340.10 | Support - 333, 302 | Resistance - 352, 380

Trading Range - The scrip opened at 328.95, moved up to an intra-day high of 340.10, declined to an intra-day low of 324.00 and closed at 340.10.

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.      

Himad. Chem. (Daily)

Last Close - 147.30 | Support - 136, 119 | Resistance - 168, 181

Trading Range - The scrip opened at 147.00, moved up to an intra-day high of 147.70, declined to an intra-day low of 142.20 and closed at 147.30.

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.      

Thomas Cook. (Daily)

Last Close - 516.00 | Support - 501, 413 | Resistance - 523, 611 

Trading Range - The scrip opened at 501.00, moved up to an intra-day high of 516.00, declined to an intra-day low of 501.00 and closed at 516.00.

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

750, 724

783.90

793, 829

Sd

DR. REDDY

1225, 1150

1274.00

1282, 1342

Tu

HLL

224, 216

229.10

240, 252

Tu

INFOSYS

3074, 2938

3077.55

3155, 3250

Tu

ITC

180, 168

182.25

190, 210

Tu

RIL

1041, 1001

1058.75

1083, 1109

Tu

SATYAM

705, 678

711.40

730, 752

Tu

SBI

725, 695

727.40

784, 809

Td

T MOTORS

771, 749

794.45

811, 849

Tu

TISCO

500, 480

533.30

550, 593

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 be having positions in the stocks mentioned above.  

 

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Hemen Kapadia, Morpheus Inc
 

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