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Stock picks of the day

July 18, 2008 08:45 IST

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

Sensex

Last Close - 13111.85 | Support - 12899, 12425 | Resistance - 13146, 13406

Trading Range - The Sensex opened at 12909.57, moved up to an intra-day high of 13150.35, declined to an intra-day low of 12843.79 and closed at 13111.85.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 13119 level while significant resistance at higher levels (13270) - would limit the upside. The outlook has turned negative again while resistance comes in at the 14700+ level and support comes in at the 12316 level.

Webel Sl Ener

Last Close - 210.25 | Support - 199, 173 | Resistance - 237, 274

Trading Range - The scrip opened at 205.00, moved up to an intra-day high of 210.25, declined to an intra-day low of 200.00 and closed at 210.25.

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.

Neha Int'nl

Last Close - 064.45 | Support - 057, 039 | Resistance - 072, 088

Trading Range - The scrip opened at 059.50, moved up to an intra-day high of 064.45, declined to an intra-day low of 059.15 and closed at 064.45.

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.

Polychem

Last Close - 151.95 | Support - 141, 111 | Resistance - 157, 196

Trading Range - The scrip opened at 146.00, moved up to an intra-day high of 151.95, declined to an intra-day low of 140.90 and closed at 151.95.

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.

Tulip IT

Last Close - 913.60 | Support - 880, 841 | Resistance - 918, 957

Trading Range - The scrip opened at 914.00, moved up to an intra-day high of 921.00, declined to an intra-day low of 905.35 and closed at 913.60.

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.

Daily Stock Track               

Scrip

Support

Last Close

Resistance

Trend

ACC

520, 484

538.80

573, 615

Td

DR. REDDY

610, 579

639.60

645, 689

Td

HUL

216, 203

219.80

224, 240

Sd

INFOSYS

1510, 1457

1582.85

1667, 1723

Td

ITC

155, 140

167.45

169, 180

Dt

RIL

1999, 1915

2015.55

2079, 2115

Dt

SATYAM

406, 385

414.05

425, 443

Dt

SBI

1202, 1146

1227.05

1258, 1302

Td

T MOTORS

390, 367

411.55

422, 448

Sd

T STEEL

586, 557

607.40

614, 642

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

Hemen Kapadia, Morpheus Inc