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Rediff.com  » Business » Stock picks of the day

Stock picks of the day

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January 23, 2007 08:37 IST

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

Sensex (Daily)                                                                    

Last Close - 14209.24 | Support - 14171, 14035 | Resistance - 14243, 14325

Trading Range - The Sensex opened at 14217.80, moved up to an intra-day high of 14259.07, declined to an intra-day low of 14111.75 and closed at 14209.24.

Review/Outlook - The Sensex has reflected near term indecision by staying within the previous session's trading range to come off from its intra-day low and has finally ended in positive territory on distinctly lower volume. Volatility can be the order of the day, the positives of the last trading session might just spill over to today's trading session indicating the possibility of a minor intra-day upside especially above the 14259 level while support comes in at the 14140 level.   

Godavari Fert. (Daily)                                                   

Last Close - 125.15 | Support - 114, 093 | Resistance - 135, 170

Trading Range - The scrip opened at 121.00, moved up to an intra-day high of 125.80, declined to an intra-day low of 116.30 and closed at 125.15.

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. 

Dhanuka Pest. (Daily)                                                   

Last Close - 136.40 | Support - 131, 097 | Resistance - 139, 170

Trading Range - The scrip opened at 128.00, moved up to an intra-day high of 136.40, declined to an intra-day low of 126.50 and closed at 136.40.

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.

Diamond Cabl. (Daily)                                           

Last Close - 162.25 | Support - 150, 127 | Resistance - 175, 200

Trading Range - The scrip opened at 157.25, moved up to an intra-day high of 162.25, declined to an intra-day low of 156.50 and closed at 162.25.

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.

Hov Services. (Daily)                                             

Last Close - 247.85 | Support - 245, 222 | Resistance - 275, 300

Trading Range - The scrip opened at 244.95, moved up to an intra-day high of 247.85, declined to an intra-day low of 236.25 and closed at 247.85.

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. 

Daily Stock Track          

Scrip

Support

Last Close

Resistance

Trend

ACC

1110, 1061

1111.00

1155, 1200

Sd

DR. REDDY

795, 757

809.90

840, 877

Sd

HLL

224, 216

224.10

240, 252

Up

INFOSYS

2208, 2163

2253.55

2270, 2325

Tu

ITC

168, 155

179.15

180, 190

Up

RIL

1350, 1316

1373.45

1400, 1500

Up

SATYAM

443, 430

472.35

475, 500

Sd

SBI

1190, 1166

1224.20

1250, 1300

Tu

T MOTORS

944, 920

964.40

970, 990

Tu

TISCO

466, 452

471.20

480, 500

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.

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 even be having contrary positions in the stocks mentioned above.  
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Hemen Kapadia, Morpheus Inc.
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