Rediff.com« Back to articlePrint this article

Stock picks of the day

January 17, 2007 08:35 IST

The market has actually moved with an upward gap, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, Consumer Durables & Auto have ended positive in varying degrees while FMCG, Healthcare, IT Metals, Oil & PSU's have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex

Last Close - 14114.73 | Support - 14100, 14035 | Resistance - 14200, 14300

Trading Range - The Sensex opened at 14146.00, moved up to an intra-day high of 14211.15, declined to an intra-day low of 14070.65 and closed at 14114.73.

Review/Outlook - The Sensex has reflected some amount of strength by posting a fresh all time high in a lacklustre trading session with movement basically having a downward bias and has come off a bit from its intra-day high to finally end in negative territory on distinctly lower volume. Volatility can be the order of the day, the negatives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day downside especially below the 14070 level while support comes in at the 14013 level.        

Simplex Real

Last Close - 232.30 | Support - 224, 193 | Resistance - 260, 305

Trading Range - The scrip opened at 220.00, moved up to an intra-day high of 232.30, declined to an intra-day low of 220.00 and closed at 232.30.

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. 

Gmr Ind

Last Close - 369.65 | Support - 368, 310 | Resistance - 440, 490

Trading Range - The scrip opened at 364.00, moved up to an intra-day high of 371.25, declined to an intra-day low of 343.70 and closed at 369.65.

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.

Heritage Foods

Last Close - 235.95 | Support - 228, 192 | Resistance - 260, 290

Trading Range - The scrip opened at 227.00, moved up to an intra-day high of 235.95, declined to an intra-day low of 225.00 and closed at 235.95.

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.

Goldiam Int'nl

Last Close - 116.80 | Support - 103, 082 | Resistance - 126, 139

Trading Range - The scrip opened at 113.00, moved up to an intra-day high of 116.80, declined to an intra-day low of 113.00 and closed at 116.80.

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

1101.40

1110, 1155

Sd

DR. REDDY

795, 757

809.10

840, 877

Sd

HLL

216, 203

220.00

224, 240

Tu

INFOSYS

2208, 2133

2217.00

2270, 2325

Sd

ITC

168, 155

171.60

180, 190

Sd

RIL

1316, 1293

1347.00

1350, 1400

Up

SATYAM

500, 475

505.75

538, 600

Td

SBI

1190, 1166

1209.25

1250, 1300

Sd

T MOTORS

944, 920

957.90

970, 990

Sd

TISCO

480, 466

482.25

500, 518

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 even be having contrary positions in the stocks mentioned above.  

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group.

Chat with market expert Pranav Sanghavi every Wednesday at noon

Hemen Kapadia, Morpheus Inc