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Stock picks for August 5
Hemen Kapadia/ Morpheus Inc |
August 04, 2003 21:33 IST
The market has held firm throughout the day to once again end in positive territory.
Capital goods, consumer durables, FMCG, IT and PSUs all ended on a positive note while banks and pharma came under pressure and ended marginally lower.
Volume registered a decrease (read as turnover) while the undertone was bullish.
Sensex --Last Close: 3832.50 | Support: 3759, 3651 | Resistance: 3895, 4028
Trading Range -- The Sensex opened at 3798.81, moved up to an intra-day high of 3840.72, declined to an intra-day low of 3785.85 and closed at 3832.50.
Review/Outlook -- The Sensex staged a smart bounce back (from an intra-day point of view) to end on an extremely strong footing and also seems to be indicating its intention to appreciate further from these levels.
Hero Honda --Last Close: 270.55 | Support: 254, 235 | Resistance: 272, 311
Trading Range -- The scrip opened at 268.00, moved up to an intra-day high of 273.35, declined to an intra-day low of 267.00 and closed at 270.55.
Review/Outlook -- The scrip seems to have stopped to catch its breath, with the intermediate uptrend still in place and with the oscillators looking better, a further upside seems possible.
ITC Hotels --Last Close: 65.85 | Support: 61, 54 | Resistance: 75, 88
Trading Range -- The scrip opened at 65.40, moved up to an intra-day high of 66.45, declined to an intra-day low of 65.35 and closed at 65.85.
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.
Hughes Soft --Last Close: 318.95 | Support: 293, 266 | Resistance: 320, 367
Trading Range -- The scrip opened at 307.00, moved up to an intra-day high of 320.00, declined to an intra-day low of 305.00 and closed at 318.95.
Review/Outlook -- The scrip has reflected strength by posting a 17 month high and with the oscillators looking positive, further appreciation seems to be on the cards.
Concor --Last Close: 381.00 | Support: 379, 338 | Resistance: 420, 481
Trading Range -- The scrip opened at 370.00, moved up to an intra-day high of 381.00, declined to an intra-day low of 370.00 and closed at 381.00.
Review/Outlook -- The scrip has given an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.
| Scrip | Support | Last Close | Resistance | Trend | | ACC | 203, 188 | 203.80 | 219, 243 | Up | | HLL | 163, 155 | 167.15 | 172, 183 | Tu | | INFOSYS | 3468, 2985 | 3739.95 | 3977, 4360 | Up | | ITC | 665, 592 | 728.75 | 729, 759 | Sd | | MTNL | 124, 115 | 124.45 | 139, 157 | Up | | RIL | 345, 324 | 355.05 | 374, 407 | Up | | SATYAM | 199, 173 | 210.90 | 224, 253 | Up | | SBI | 415, 380 | 427.50 | 450, 488 | Up | | TELCO | 232, 215 | 241.30 | 260, 284 | Up | | TISCO | 201, 189 | 218.55 | 220, 231 | 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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