Stock picks for today

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March 01, 2006 10:32 IST

The market has recovered smartly from its intra-day lows to and has ended the day clearly in positive territory. Banks, Capital goods, FMCG, auto and metals have ended positive in varying degrees while Consumer Durables, Pharma, IT, PSU and the Oil sector have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)  

Last Close- 10370; Support - 10305, 10192; Resistance - 10400, 10500

Trading Range – The Sensex opened at 10309, moved up to an intra-day high of 10423, declined to an intra-day low of 10206 and closed at 10370.

Review/Outlook – The Sensex has reflected strength to post a fresh all time high on higher volume, despite some volatility it has managed to cross the 10400 level from an intra-day point of view and has given an all time high closing. The outlook remains positive as the sequence of higher tops, higher bottoms continues while a further upside seems to be on the cards.                 

Goodrick Group. (Daily)   

Last Close - 120.05; Support - 114, 097; Resistance - 129, 152

Trading Range – The scrip opened at 111.70, moved up to an intra-day high of 120.05, declined to an intra-day low of 110.00 and closed at 120.05.

Review/Outlook – The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Ansal Infra. (Daily)   

Last Close - 569.05; Support - 568, 500, Resistance - 620, 650

Trading Range - The scrip opened at 529.90, moved up to an intra-day high of 572.15, declined to an intra-day low of 526.00 and closed at 569.05.

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.

Harrison Malyalam. (Daily)   

Last Close - 167.50; Support - 163, 133; Resistance - 178, 207

Trading Range - The scrip opened at 153.25, moved up to an intra-day high of 167.50, declined to an intra-day low of 152.00 and closed at 167.50.

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. 

Kirl. Pneum. (Daily) 

Last Close - 336.40; Support - 300, 250; Resistance - 350, 340 

Trading Range - The scrip opened at 320.00, moved up to an intra-day high of 336.40, declined to an intra-day low of 318.00 and closed at 336.40.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close 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

610, 569

627.70

639, 700

Up

DR. REDDY

1282, 1225

1302.85

1342, 1400

Up

HLL

240, 224

241.95

252, 266

Up

INFOSYS

2813, 2769

2828.60

2938, 3075

Sd

ITC

170, 155

172.60

190, 210

Up

RIL

700, 675

708.75

725, 750

Tu

SATYAM

752, 730

769.45

770, 810

Up

SBI

871, 850

877.20

900, 926

Tu

T MOTORS

811, 771

814.35

850, 900

Tu

TISCO

425, 411

430.70

452, 466

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 be having positions in the stocks mentioned above.  

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