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Stock picks of the day

February 02, 2007 09:04 IST

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, FMCG, IT, Auto, Consumer Durables, Healthcare, Metals, Oil & PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 14267.18 | Support - 14243, 14171 | Resistance - 14325, 14400

Trading Range - The Sensex opened at 14124.36, moved up to an intra-day high of 14278.08, declined to an intra-day low of 14109.91, and closed at 14267.18.  

Review/Outlook - The Sensex has reflected near term strength by not being able to sustain itself at lower levels, has remained buoyant to come off from its intra-day low and has finally ended in positive territory on distinctly lower volume. Volatility can be the order of the day, the positives of the last trading session might just spill over to today's trading session indicating the possibility of an intra-day upside especially above the 14278 level while strong support at lower levels (14211) could mean a rather limited downside.                  

Bhartiya Int'nl

Last Close - 221.80 | Support - 218, 194 | Resistance - 247, 287

Trading Range - The scrip opened at 226.95, moved up to an intra-day high of 226.95, declined to an intra-day low of 215.85 and closed at 221.80.

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. 

Surya Roshni

Last Close - 078.40 | Support - 068, 050 | Resistance - 083, 115

Trading Range - The scrip opened at 077.95, moved up to an intra-day high of 078.40, declined to an intra-day low of 076.50 and closed at 078.40.

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.

W H Brady

Last Close - 167.35 | Support - 167, 138 | Resistance - 204, 240

Trading Range - The scrip opened at 160.00, moved up to an intra-day high of 167.35, declined to an intra-day low of 157.00 and closed at 167.35.

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.

Ruby Mills

Last Close - 657.15 | Support - 650, 587 | Resistance - 675, 700

Trading Range - The scrip opened at 648.70, moved up to an intra-day high of 657.15, declined to an intra-day low of 620.00 and closed at 627.15.

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.

Daily Stock Track

Scrip

Support

Last Close

Resistance

Trend

ACC

1022, 979

1034.95

1061, 1110

Td

DR. REDDY

733, 700

744.30

757, 795

Td

HLL

203, 192

207.20

216, 224

Td

INFOSYS

2208, 2163

2268.40

2270, 2325

Tu

ITC

168, 155

174.85

180, 190

Up

RIL

1373, 1342

1375.55

1409, 1450

Up

SATYAM

443, 430

474.15

475, 500

Td

SBI

1190, 1166

1203.15

1225, 1250

Sd

T MOTORS

888, 849

905.65

920, 944

Td

TISCO

452, 437

457.75

466, 480

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.

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Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.

 

Hemen Kapadia, Morpheus Inc