Stock picks for September 10

The market has staged a superb rally to once again but slipped towards the close to end in negative territory.

Banks, consumer durables, FMCG, pharma, PSUs and capital goods all ended negative in varying degrees while it was the IT sector which ended positive.

Volume registered an increase (read as turnover) while the undertone was bullish.

Sensex --Last Close: 4425.20 | Support: 4409, 4328 | Resistance: 4554, 4643

Trading Range -- The Sensex opened at 4458.64, moved up to an intra-day high of 4473.57, declined to an intra-day low of 4398.09 and closed at 4425.20.

Review/Outlook -- The Sensex has once again reflected strength by posting a new high (a 36 month high) but ran into profit taking at higher levels to end in negative territory while the intermediate uptrend is intact.

Apollo Hospital --Last Close: 165.25 | Support: 153, 123 | Resistance: 171, 213

Trading Range -- The scrip opened at 151.50, moved up to an intra-day high of 167.90, declined to an intra-day low of 151.50 and closed at 165.25.

Review/Outlook -- The scrip has reflected strength by giving an upward breakout from a consolidation pattern and with the indicators looking up, a further upside seems to be on the cards.

Burroughs Wellcome --Last Close: 528.50 | Support: 512, 450 | Resistance: 539, 571

Trading Range -- The scrip opened at 514.00, moved up to an intra-day high of 534.00, declined to an intra-day low of 502.25 and closed at 528.50.

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.

Siemens --Last Close: 451.10 | Support: 445, 397 | Resistance: 500, 581

Trading Range -- The scrip opened at 449.00, moved up to an intra-day high of 454.70, declined to an intra-day low of 443.00 and closed at 451.10.

Review/Outlook -- The scrip has reflected strength by posting a 43-month high and with the oscillators looking positive, further appreciation seems to be on the cards.

Rolta --Last Close: 78.55 | Support: 76, 065 | Resistance: 87, 108

Trading Range -- The scrip opened at 75.55, moved up to an intra-day high of 81.40, declined to an intra-day low of 75.10 and closed at 78.55.

Review/Outlook -- The scrip has reflected strength by posting a 8-month high and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 203, 188 214.80 219, 243 Sd HLL 183, 172 190.85 192, 203 Tu  INFOSYS 4360, 4977 4487.25 4816, 5600 Up  ITC 802, 729 829.15 882, 963 Tu MTNL 124, 115 124.80 139, 157 Sd RIL 407, 374 437.55 452, 500 Up SATYAM 224, 199 246.00 253, 301 Up SBI 415, 380 438.25 450, 488 Sd TELCO 260, 232 282.25 284, 302 Up TISCO 231, 220 257.85 260, 295 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