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Stock picks for September 25
Hemen Kapadia/ Morpheus Inc |
September 24, 2003 20:43 IST
The market has staged a scintillating rally to virtually move from open to close to once again end in positive territory.
Banks, pharma, FMCG, IT, consumer durables, PSU and capital goods all ended positive in varying degrees.
Volume registered an increase (read as turnover) while the undertone was positive.
Sensex --Last Close: 4356.39 | Support: 4328, 4166 | Resistance: 4409, 4554
Trading Range -- The Sensex opened at 4249.93, moved up to an intra-day high of 4366.83, declined to an intra-day low of 4229.87 and closed at 4356.39.
Review/Outlook -- The Sensex has reflected strength by staging a superb recovery on higher volume yesterday, indicating its intention to appreciate further in intra-day movements today. A close above the 4373 level could give a further fillip to the Sensex.
Indian Rayon --Last Close: 186.85 | Support: 171, 157 | Resistance: 191, 217
Trading Range -- The scrip opened at 178.00, moved up to an intra-day high of 191.30, declined to an intra-day low of 177.55 and closed at 186.85.
Review/Outlook -- The scrip has reflected strength by giving an upward breakout from a consolidation pattern and with the indicators looking positive, a further upside seems to be on the cards.
Bhel --Last Close: 396.60 | Support: 370, 321 | Resistance: 403, 436
Trading Range -- The scrip opened at 382.10, moved up to an intra-day high of 398.80, declined to an intra-day low of 381.50 and closed at 396.60.
Review/Outlook -- The scrip has reflected strength by entering an intermediate uptrend and with the indicators looking positive, a further upside seems to be on the cards.
Hero Honda --Last Close: 297.85 | Support: 272, 254 | Resistance: 311, 330
Trading Range -- The scrip opened at 289.90, moved up to an intra-day high of 301.00, declined to an intra-day low of 288.15 and closed at 297.85.
Review/Outlook -- The scrip has reflected strength by overcoming a "working" supply line and with the indicators looking positive, a further upside seems to be on the cards.
ICICI Bank --Last Close: 194.95 | Support: 191, 154 | Resistance: 214, 242
Trading Range -- The scrip opened at 194.30, moved up to an intra-day high of 196.50, declined to an intra-day low of 191.10 and closed at 194.95.
Review/Outlook -- The scrip has reflected short term strength by giving an upward breakout from a consolidation pattern and with the indicators looking positive, a further upside seems to be on the cards. | Scrip | Support | Last Close | Resistance | Trend | | ACC | 188, 175 | 198.15 | 203, 219 | Sd | | HLL | 183, 172 | 184.20 | 192, 203 | Sd | | INFOSYS | 4360, 3977 | 4521.40 | 4816, 5600 | Tu | | ITC | 802, 729 | 820.90 | 882, 963 | Sd | | MTNL | 103, 85 | 113.85 | 115, 124 | Sd | | RIL | 407, 374 | 428.10 | 452, 500 | Sd | | SATYAM | 224, 199 | 252.90 | 253, 301 | Tu | | SBI | 415, 380 | 422.05 | 450, 488 | Sd | | TATA MOTORS | 284, 260 | 294.95 | 302, 328 | Sd | | TISCO | 231, 220 | 259.05 | 260, 295 | 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, 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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