Stock picks of the day

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January 20, 2006 09:43 IST

The market has witnessed strong buying at lower levels to stage a scintillating rally to end the day sharply in positive territory. The capital goods, FMCG, auto, banks, IT, oil, pharma, PSU, metals and the consumer durables sector have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a significant decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)                                                                                 

Last Close – 9449.84, Support – 9423, 9348, Resistance – 9547, 9665

Trading Range – The Sensex opened at 9271.63, moved up to an intra-day high of 9473.86, declined to an intra-day low of 9271.63 and closed at 9449.84.

Review/Outlook – The Sensex has staged an incredible recovery to move up virtually from open to close and has also managed to close above the 9423 level. The outlook is cautiously optimistic and for a further upside to materialise the sanctity of the 9423 level needs to be maintained while a decisive close above the 9547 and the 9665 level in that order is a must.       

Rel. Cap. (Daily)    

Last Close – 453.20, Support – 435, 403, Resistance – 464, 483

Trading Range – The scrip opened at 439.80, moved up to an intra-day high of 455.10, declined to an intra-day low of 439.00 and closed at 453.20.

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. 

Suzlon (Daily)

Last Close – 895.75, Support – 893, 855, Resistance – 939, 971

Trading Range – The scrip opened at 877.00, moved up to an intra-day high of 903.95, declined to an intra-day low of 877.00 and closed at 895.75.

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.  

Tata Chem. (Daily)               

Last Close – 246.15, Support – 244, 237, Resistance – 258, 304

Trading Range – The scrip opened at 244.00, moved up to an intra-day high of 247.60, declined to an intra-day low of 240.50 and closed at 246.15.

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. 

United Brew. (Daily)                                                       

Last Close – 600.90, Support – 591, 546, Resistance – 627, 663 

Trading Range – The scrip opened at 599.80, moved up to an intra-day high of 600.90, declined to an intra-day low of 590.00 and closed at 600.90.

Review/Outlook – The scrip has reflected strength by appreciating with an upward gap 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

542, 516

548.50

569, 610

Td

DR. REDDY

998, 934

1030.55

1049, 1089

Sd

HLL

183, 172

187.60

192, 203

Sd

INFOSYS

2813, 2769

2823.55

2938, 3074

Dt

ITC

136, 126

143.00

144, 155

Td

RIL

700, 675

704.20

725, 750

Sd

SATYAM

730, 705

748.25

770, 810

Td

SBI

900, 871

908.35

926, 950

Td

T MOTORS

635, 600

641.00

650, 670

Sd

TISCO

349, 331

360.60

361, 373

Dt

 

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 be having positions in the stocks mentioned above.  

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