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Stock picks of the day

December 28, 2006 08:29 IST

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 increase (read as turnover) while the undertone seemed positive.

Sensex

Last Close - 13859.69 | Support - 13857, 13790 | Resistance - 13931, 14035

Trading Range - The Sensex opened at 13734.01, moved up to an intra-day high of 13911.59, declined to an intra-day low of 13734.01 and closed at 13859.69.

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 noticeable higher 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 13912 level) while late resistance can put a question mark over sustainability in the very near term.                    

Flex Ind

Last Close - 132.70 | Support - 120, 099 | Resistance - 150, 175

Trading Range - The scrip opened at 132.70, moved up to an intra-day high of 132.70, declined to an intra-day low of 131.80 and closed at 132.70.

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. 

Schenectady-Beck

Last Close - 415.15 | Support - 380, 350 | Resistance - 425, 450

Trading Range - The scrip opened at 390.00, moved up to an intra-day high of 415.15, declined to an intra-day low of 380.00 and closed at 415.15.

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.

Rel. Ind. Infr

Last Close - 549.00 | Support - 525, 484 | Resistance - 550, 575

Trading Range - The scrip opened at 503.90, moved up to an intra-day high of 549.00, declined to an intra-day low of 503.00 and closed at 549.00.

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.

Suashish Diamonds

Last Close - 181.30 | Support - 166, 153 | Resistance - 200, 250

Trading Range - The scrip opened at 171.00, moved up to an intra-day high of 181.30, declined to an intra-day low of 171.00 and closed at 181.30.

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.

Daily Stock Track               

Scrip

Support

Last Close

Resistance

Trend

ACC

1061, 1022

1073.00

1110, 1155

Sd

DR. REDDY

795, 757

807.55

840, 877

Up

HLL

216, 203

219.55

224, 240

Td

INFOSYS

2133, 2061

2253.30

2270, 2400

Tu

ITC

168, 155

176.40

180, 190

Sd

RIL

1241, 1195

1292.85

1293, 1350

Tu

SATYAM

475, 443

492.00

500, 538

Tu

SBI

1250, 1190

1250.85

1300, 1350

Sd

T MOTORS

888, 849

906.85

920, 944

Tu

TISCO

480, 466

481.30

500, 518

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.

Chat with market expert Pranav Sanghavi every Tuesday

Hemen Kapadia, Morpheus Inc