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Home  » Business » Stock picks for today

Stock picks for today

By Hemen Kapadia / Morpheus Inc in Mumbai
December 07, 2007 10:14 IST
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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, Realty, IT, Auto, FMCG, Healthcare, Metals & Tech have ended positive in varying degrees while Capital Goods, Consumer Durables, Metals, Oil & PSUs have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close | 19795.87; Support | 19621, 19276; Resistance | 19984, 20035

Trading Range: The Sensex opened at 20018.00, moved up to an intra-day high of 20064.00, declined to an intra-day low of 19716.57 and closed at 19795.87.

Review/Outlook: The Sensex has had a mixed trading session, has had a strong 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 negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 19811 level while resistance at higher levels (20000) | would limit the upside. The outlook has turned positive again while resistance comes in at the 20200+ level and support comes in at the 18833 level.

Gremac Infra. (Daily)

Last Close | 345.50; Support | 325, 296 ; Resistance | 356, 400

Trading Range: The scrip opened at 360.80, moved up to an intra-day high of 360.80, declined to an intra-day low of 344.00 and closed at 345.60.

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.

Usher Agro. (Daily)

Last Close | 092.30; Support | 072, 052 ; Resistance | 095, 120

Trading Range: The scrip opened at 093.65, moved up to an intra-day high of 096.65, declined to an intra-day low of 085.50 and closed at 092.30.

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.

Kaveri Tele. (Daily)

Last Close | 224.75; Support | 204, 178 ; Resistance | 250, 300

Trading Range: The scrip opened at 223.95, moved up to an intra-day high of 224.75, declined to an intra-day low of 219.00 and closed at 224.75. 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.

RSWM Ltd. (Daily)

Last Close | 134.65; Support | 129, 115 ; Resistance | 160, 200

Trading Range: The scrip opened at 134.50, moved up to an intra-day high of 134.65, declined to an intra-day low of 127.30 and closed at 134.65.

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

1082.00

1099, 1155

Tu

DR. REDDY

645, 610

662.00

669, 689

Up

HUL

203, 192

207.55

216, 224

Sd

INFOSYS

1510, 1457

1634.90

1667, 1723

Tu

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ITC

180, 168

192.65

193, 213

Up

RIL

2805, 2724

2874.55

2929, 3000

Tu

SATYAM

425, 406

436.80

443, 471

Tu

SBI

2331, 2279

2396.60

2400, 2500

Up

T MOTORS

771, 749

775.45

811, 849

Up

TISCO

820, 762

847.20

858, 890

Tu


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.

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Hemen Kapadia / Morpheus Inc in Mumbai
 

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