Rediff.com« Back to articlePrint this article

Stock picks of the day

September 27, 2007 09:32 IST

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in positive territory. Banks, Healthcare, Tech, IT, PSU & Metals have ended positive in varying degrees while the Consumer Durables, Capital Goods, FMCG, Auto, Oil & Realty have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed sombre.

Sensex (Daily)                                                                     

Last Close - 16921.39 | Support - 16900, 16700 | Resistance - 17100, 17300

Trading Range - The Sensex opened at 16969.45, moved up to an intra-day high of 17073.87, declined to an intra-day low of 16887.07 and closed at 16921.39. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has depreciated after facing selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 16887 level while support at lower levels (16700) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 17200+ level and support comes in at the 15350 level. 

Genus Power. (Daily)                                                 

Last Close - 584.00 | Support - 555, 482 | Resistance - 596, 651

Trading Range - The scrip opened at 576.00, moved up to an intra-day high of 595.90, declined to an intra-day low of 561.75 and closed at 584.00.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.   

Sulzer India. (Daily)                                                    

Last Close - 808.60 | Support - 764, 718 | Resistance - 818, 901

Trading Range - The scrip opened at 770.00, moved up to an intra-day high of 808.60, declined to an intra-day low of 770.00 and closed at 808.60.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.  

Jayant Agro. (Daily)                                            

Last Close - 103.75 | Support - 091, 077 | Resistance - 112, 131

Trading Range - The scrip opened at 101.80, moved up to an intra-day high of 103.75, declined to an intra-day low of 101.00 and closed at 103.75.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.     

Karuturi Net. (Daily)                                                

Last Close - 230.15 | Support - 218, 172 | Resistance - 240, 300

Trading Range - The scrip opened at 221.10, moved up to an intra-day high of 231.25, declined to an intra-day low of 216.20 and closed at 230.15.

Review/Outlook - The scrip has reflected strength by appreciating 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

1155, 1099

1155.95

1192, 1220

Tu

DR. REDDY

610, 579

639.70

645, 669

Sd

HUL

224, 216

225.25

240, 252

Up

INFOSYS

1785, 1723

1824.30

1834, 1878

Tu

ITC

180, 168

184.70

193, 213

Up

RIL

2300, 2200

2321.95

2400, 2500

Up

SATYAM

425, 406

431.30

443, 471

Tu

SBI

1800, 1760

1848.10

1900, 2000

Up

T MOTORS

722, 698

739.40

749, 771

Up

TISCO

750, 731

750.90

775, 800

Up

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 not only be having positions but could even be having contrary positions in the stocks mentioned above.  

Hemen Kapadia, Morpheus Inc.