Home > Business > Technicals
Stock picks for September 2
Hemen Kapadia / Morpheus Inc |
September02, 2003 09:21 IST
The market has posted another new high to finish once again on a strong footing in positive territory.
Banks, consumer durables, FMCG, IT, Pharma, capital goods and PSUs all ended quite positive in varying degrees. Volume registered a decrease (read as turnover) while the undertone was bullish.
Sensex -- Last Close -- 4324.76 -- Support -- 4166, 4028 -- Resistance -- 4328, 4554
Trading Range – The Sensex opened at 4284.07, moved up to an intra-day high of 4329.57, declined to an intra-day low of 4284.07 and closed at 4324.76.
Review/Outlook – The Sensex has once again posted a new high (a 29 month high – on higher volume) while the intermediate uptrend is going from strength to strength. It has been a broad based rally across sectors while it is the PSU sector which is in a phenomenal bull run.
Century Textiles -- Last Close – 122.55 -- Support – 114, 080 -- Resistance – 150, 211
Trading Range – The scrip opened at 111.40, moved up to an intra-day high of 123.75, declined to an intra-day low of 111.40 and closed at 122.55.
Review/Outlook – The scrip has reflected strength by giving an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.
Siemens -- Last Close – 428.75 -- Support – 397, 344 -- Resistance – 445, 500
Trading Range – The scrip opened at 417.00, moved up to an intra-day high of 437.00, declined to an intra-day low of 417.00 and closed at 428.75.
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.
BASF -- Last Close – 148.45 -- Support – 146, 124 -- Resistance – 166, 180
Trading Range – The scrip opened at 139.50, moved up to an intra-day high of 149.00, declined to an intra-day low of 139.50 and closed at 148.45.
Review/Outlook – The scrip has reflected strength by posting a 47 month high and with the oscillators looking positive, further appreciation seems to be on the cards.
Adani Exports -- Last Close – 223.95 -- Support – 223, 195 -- Resistance – 260, 292
Trading Range – The scrip opened at 198.95, moved up to an intra-day high of 226.00, declined to an intra-day low of 195.00 and closed at 223.95.
Review/Outlook – The scrip is in the midst of an intermediate uptrend and with the indicators looking strong, a further upside seems to be on the cards.
| Scrip | Support | Last Close | Resistance | Trend | | ACC | 203, 188 | 217.25 | 219, 243 | Up | | HLL | 183, 172 | 189.55 | 192, 203 | Up | | INFOSYS | 3468, 2985 | 3469.00 | 3977, 4360 | Up | | ITC | 802, 729 | 856.35 | 882, 963 | Up | | MTNL | 124, 115 | 128.90 | 139, 157 | Sd | | RIL | 407, 374 | 412.15 | 452, 500 | Up | | SATYAM | 224, 199 | 236.35 | 253, 301 | Up | | SBI | 415, 380 | 437.70 | 450, 488 | Up | | TATA MOTORS | 260, 232 | 280.45 | 260, 284 | Up | | TISCO | 231, 220 | 254.55 | 260, 295 | Tu | | 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 |
|