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Stock picks of the day

November 01, 2007 08:58 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. Capital Goods, FMCG, IT, Realty & Tech have ended negative in varying degrees while Banks, Consumer Durables, Healthcare, Auto, Oil, PSU & Metals have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 19837.99 | Support - 19621, 19276 | Resistance - 20000, 20200

Trading Range - The Sensex opened at 19827.40, moved up to an intra-day high of 19984.13, declined to an intra-day low of 19735.21 and closed at 19837.99. 

Review/Outlook - The Sensex has had a mixed trading session, has had a good opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 19848 level while resistance at higher levels (20000) – would limit the upside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 16800 level. 

Carol Info. (Daily)

Last Close - 080.25 | Support - 075, 063 | Resistance - 091, 125

Trading Range - The scrip opened at 075.50, moved up to an intra-day high of 080.25, declined to an intra-day low of 075.50 and closed at 080.25.

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.   

Anuh Pharma. (Daily)

Last Close - 276.05 | Support - 244, 210 | Resistance - 284, 310

Trading Range - The scrip opened at 240.00, moved up to an intra-day high of 281.20, declined to an intra-day low of 235.75 and closed at 276.05.

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.   

Rishi Laser. (Daily)
Last Close - 130.70 | Support - 101, 079| Resistance - 136, 175

Trading Range - The scrip opened at 125.00, moved up to an intra-day high of 130.70, declined to an intra-day low of 125.00 and closed at 130.70.

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.       

Jaihind Proj. (Daily)

Last Close - 162.00 | Support - 150, 134 | Resistance - 200, 250

Trading Range - The scrip opened at 162.00, moved up to an intra-day high of 162.00, declined to an intra-day low of 154.00 and closed at 162.00.

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.     

Daily Stock Track          

Scrip

Support

Last Close

Resistance

Trend

ACC

1025, 994

1077.50

1099, 1155

Sd

DR. REDDY

610, 579

620.95

645, 669

Sd

HUL

203, 192

207.60

216, 224

Tu

INFOSYS

1834, 1785

1839.10

1883, 1962

Sd

ITC

168, 155

179.15

180, 193

Tu

RIL

2724, 2682

2782.55

2805, 2900

Tu

SATYAM

471, 443

477.65

496, 538

Tu

SBI

2050, 1992

2068.15

2100, 2200

Up

T MOTORS

749, 722

757.70

771, 811

Up

TISCO

890, 858

905.05

924, 950

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.

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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.