Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day sharply in positive territory. Auto, FMCG, Healthcare, Oil, PSU, Banks, Metals, Realty, Consumer Durables, Capital Goods & IT have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Trading Range - The Sensex opened at 14568.22, moved up to an intra-day high of 14979.90, declined to an intra-day low of 14568.22 and closed at 14942.28.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off from its intra - day low and has finally ended sharply in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14954 level while significant resistance at higher levels (15300) - would limit the upside. The outlook has turned positive again while resistance comes in at the 15300+ level and support comes in at the 12780 level.

Trading Range - The scrip opened at 226.80, moved up to an intra-day high of 226.80, declined to an intra-day low of 211.00 and closed at 226.80.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Trading Range - The scrip opened at 122.45, moved up to an intra-day high of 122.60, declined to an intra-day low of 118.00 and closed at 112.50.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Trading Range - The scrip opened at 120.00, moved up to an intra-day high of 123.25, declined to an intra-day low of 117.30 and closed at 123.05.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Trading Range - The scrip opened at 395.00, moved up to an intra-day high of 415.00, declined to an intra-day low of 386.60 and closed at 410.75.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	573, 520	591.10	615, 656	Up
DR. REDDY	610, 579	632.60	645, 689	Sd
HUL	224, 216	231.05	240, 252	Tu
INFOSYS [Get Quote]	1510, 1457	1603.70	1667, 1723	Sd
ITC	180, 169	191.70	193, 13	Up
RIL [Get Quote]	2180, 2115	2265.50	2274, 2309	Up
SATYAM [Get Quote]	366, 338	377.70	385, 406	Sd
SBI [Get Quote]	1539, 1472	1543.80	1564,1 624	Up
T MOTORS	422, 390	437.55	448, 472	Tu
T STEEL	642, 614	667.00	670, 695	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, 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, Ob - Overbought, Os - Oversold.

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Sebi Disclosure: The author is an active market participant and could not only be having positions but could even be having contrary positions in the stocks mentioned above.