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Stock picks for July 8
Hemen Kapadia/ Morpheus Inc |
July 07, 2003 22:56 IST
The market has cooled off a bit from its intra-day high to end almost flat. Banks, capital goods, IT and PSUs were the positives of the day while consumer durables, FMCG and pharma retreated in varying degrees.
Volume was a tad lower (read as turnover) while the undertone was mixed.
Sensex -- Last Close: 3612.53 | Support: 3545, 3467 | Resistance: 3651, 3759
Trading Range -- The Sensex opened at 3631.46, moved up to an intra-day high of 3645.42, declined to an intra-day low of 3607.10 and closed at 3612.53.
Review/Outlook -- The Sensex has reflected minor weakness by breaching the previous session's intra-day low and could remain range bound today while the intermediate uptrend remains intact.
Aurobindo Pharma -- Last Close: 442.45 | Support: 432, 395 | Resistance: 463, 517
Trading Range -- The scrip opened at 419.40, moved up to an intra-day high of 449.40, declined to an intra-day low of 416.25 and closed at 442.45.
Review/Outlook -- The scrip has reflected strength by posting a 29 month high and with the oscillators looking strong, a further upside seems possible.
Adani Exports -- Last Close: 202.45 | Support: 195, 184 | Resistance: 223, 260
Trading Range -- The scrip opened at 200.50, moved up to an intra-day high of 204.00, declined to an intra-day low of 200.50 and closed at 202.45.
Review/Outlook -- The scrip is in the midst of an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.
BSES -- Last Close: 290.20 | Support: 290, 268 | Resistance: 328, 392
Trading Range -- The scrip opened at 283.90, moved up to an intra-day high of 295.45, declined to an intra-day low of 279.50 and closed at 290.20.
Review/Outlook -- The scrip has given an upward breakout from a consolidation phase and with the oscillators looking positive, further appreciation seems to be on the cards.
Oriental Bank -- Last Close: 168.00 | Support: 150, 135 | Resistance: 175, 200
Trading Range -- The scrip opened at 162.00, moved up to an intra-day high of 169.80, declined to an intra-day low of 160.00 and closed at 168.00.
Review/Outlook -- The scrip has reflected strength by giving an upward "bar" reversal (bullish intra-day pattern) and with the indicators looking firm, a further upside seems to be on the cards.
| Scrip | Support | Last Close | Resistance | Trend | | ACC | 166, 155 | 169.85 | 175, 188 | Up | | HLL | 163, 155 | 167.95 | 172, 183 | Td | | INFOSYS | 2985, 2405 | 3091.65 | 3468, 3977 | Sd | | ITC | 759, 729 | 165.20 | 802, 882 | Tu | | MTNL | 115, 103 | 115.70 | 124, 132 | Up | | RIL | 324, 302 | 328.15 | 345, 374 | Sd | | SATYAM | 173, 149 | 187.15 | 199, 224 | Sd | | SBI | 380, 358 | 387.85 | 415, 450 | Up | | TELCO | 199, 186 | 211.70 | 215, 232 | Up | | TISCO | 175, 166 | 175.50 | 189, 201 | 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, CMP - Current Market Price, 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. | 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 has no positions in the stocks mentioned above |
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