Stock picks for September 11

The market has recovered smartly from its intra-day low to just about end in positive territory.

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

Volume registered a decrease (read as turnover) while the undertone was bullish.

Sensex --Last Close: 4434.26 | Support: 4409, 4328 | Resistance: 4554, 4643

Trading Range -- The Sensex opened at 4410.12, moved up to an intra-day high of 4438.23, declined to an intra-day low of 4378.65 and closed at 4434.26.

Review/Outlook -- The Sensex has reflected strength by giving an upward "key" reversal (bullish intra-day pattern) to end in positive territory while a further upside seems to be on the cards and the intermediate uptrend is intact.

BPCL --Last Close: 342.95 | Support: 333, 295 | Resistance: 375, 450

Trading Range -- The scrip opened at 331.90, moved up to an intra-day high of 345.90, declined to an intra-day low of 330.25 and closed at 342.95.

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: 536.70 | Support: 512, 450 | Resistance: 539, 571

Trading Range -- The scrip opened at 516.85, moved up to an intra-day high of 548.00, declined to an intra-day low of 507.00 and closed at 536.70.

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.

SBI --Last Close: 448.40 | Support: 415, 380 | Resistance: 450, 488

Trading Range -- The scrip opened at 430.00, moved up to an intra-day high of 450.00, declined to an intra-day low of 430.00 and closed at 448.40.

Review/Outlook -- The scrip has reflected strength by posting an upward "key" reversal (bullish intra-day pattern) and with the oscillators looking positive, further appreciation seems to be on the cards.

Rolta --Last Close: 78.55 | Support: 76, 65 | Resistance: 87, 108

Trading Range -- The scrip opened at 78.40, moved up to an intra-day high of 80.60, declined to an intra-day low of 76.50 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, 188 215.55 219, 243 Sd HLL 192, 183 193.50 203, 224 Tu  INFOSYS 3977, 3468 4292.10 4360, 4816 Up  ITC 802, 729 839.90 882, 963 Tu MTNL 124, 115 129.20 139, 157 Tu RIL 407, 374 434.55 452, 500 Up SATYAM 224, 199 246.20 253, 301 Up SBI 415, 380 448.40 450, 488 Tu TELCO 284, 260 287.45 302, 328 Up TISCO 231, 220 259.35 260, 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