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Stock picks for July 15

Hemen Kapadia/ Morpheus Inc | July 14, 2003 20:10 IST

The market has continued its upward march and has posted a new high to end in positive territory. Capital goods, consumer durables, pharma and PSUs were the strong features of the day while FMCG and IT remained under pressure but it was the banking sector, which outshone the rest.

Volume fell again (read as turnover) while the undertone was firm.

Sensex --Last Close: 3720.75 | Support: 3651, 3545 | Resistance: 3759, 3895

Trading Range -- The Sensex opened at 3704.63, moved up to an intra-day high of 3726.56, declined to an intra-day low of 3704.63 and closed at 3720.75.

Review/Outlook -- The Sensex has remained relatively range bound but with a clear positive bias to post a 16 month high while a further upside cannot be ruled out.

Apollo Hospitals --Last Close: 162.40 | Support: 153, 139 | Resistance: 188, 206

Trading Range -- The scrip opened at 152.50, moved up to an intra-day high of 163.30, declined to an intra-day low of 152.50 and closed at 162.40.

Review/Outlook -- The scrip has reflected strength by posting a 14 month high and with the oscillators looking strong, a further upside seems possible.

BSES --Last Close: 299.15 | Support: 290, 268 | Resistance: 328, 392

Trading Range -- The scrip opened at 294.40, moved up to an intra-day high of 302.00, declined to an intra-day low of 290.00 and closed at 299.15.

Review/Outlook -- The scrip has reflected strength by giving an upward "key" reversal (bullish intra-day pattern) and with the oscillators signalling a buy, a further upside cannot be ruled out.

Reliance --Last Close: 339.60 | Support: 324, 302 | Resistance: 345, 374

Trading Range -- The scrip opened at 331.60, moved up to an intra-day high of 340.75, declined to an intra-day low of 331.60 and closed at 339.60.

Review/Outlook -- The scrip has closed above a supply line and with the oscillators looking positive, further appreciation seems to be on the cards.

Oriental Bank --Last Close: 182.10 | Support: 175, 150 | Resistance: 200, 225

Trading Range -- The scrip opened at 178.00, moved up to an intra-day high of 183.30, declined to an intra-day low of 173.80 and closed at 182.10.

Review/Outlook -- The scrip has reflected strength by posting an all time high and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track
ScripSupportLast CloseResistanceTrend
ACC175, 166179.30188, 203Up
HLL163, 155168.05172, 183Td
INFOSYS3468, 29853481.303977, 4360Tu
ITC729, 665754.50759, 802Sd
MTNL103, 95114.10115, 124Td
RIL324, 302339.60345, 374Tu
SATYAM173, 149193.00199, 224Tu
SBI380, 358403.20415, 450Tu
TELCO215, 199217.70232, 260Up
TISCO189, 175190.40207, 220Up
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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