Stock picks for September 29

The market has once again staged one of its trademark comebacks to end in positive territory.

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

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

Sensex --Last Close: 4382.57 | Support: 4328, 4166 | Resistance: 4409, 4554

Trading Range -- The Sensex opened at 4299.66, moved up to an intra-day high of 4388.83, declined to an intra-day low of 4299.66 and closed at 4382.57.

Review/Outlook -- The Sensex has reflected strength by moving up from open to close to end the week on a glorious note. A short-term uptrend seems to be in place while a medium term uptrend seems to be on the anvil -- further appreciation cannot be ruled out.

Hughes Software --Last Close: 396.40 | Support: 367, 334 | Resistance: 409, 448

Trading Range -- The scrip opened at 360.00, moved up to an intra-day high of 399.00, declined to an intra-day low of 360.00 and closed at 396.40.

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

RIL --Last Close: 425.80 | Support: 407, 374 | Resistance: 452, 500

Trading Range -- The scrip opened at 418.00, moved up to an intra-day high of 427.50, declined to an intra-day low of 416.20 and closed at 425.80.

Review/Outlook -- The scrip has reflected strength by entering a short-term uptrend and with the indicators looking positive, a further upside seems to be on the cards.

Titan --Last Close: 76.95 | Support: 70, 50 | Resistance: 83, 103

Trading Range -- The scrip opened at 76.25, moved up to an intra-day high of 78.60, declined to an intra-day low of 75.65 and closed at 76.95.

Review/Outlook -- The scrip has reflected strength by overcoming a "working" supply line and with the indicators looking positive, a further upside seems to be on the cards.

L&T --Last Close: 313.55 | Support: 300, 279 | Resistance: 330, 360

Trading Range -- The scrip opened at 306.00, moved up to an intra-day high of 314.40, declined to an intra-day low of 306.00 and closed at 313.55.

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

Stock Track

Scrip Support Last Close Resistance Trend ACC 188, 175 196.55 203, 219 Tu HLL 172, 163 182.30 183, 192 Tu INFOSYS 4360, 3977 4545.85 4816, 5600 Up ITC 802, 729 819.15 882, 963 Tu MTNL 115, 103 117.10 124, 139 Tu RIL 407, 374 425.80 452, 500 Tu SATYAM 224, 199 249.00 253, 301 Tu SBI 415, 380 433.60 450, 488 Tu TATA MOTORS 302, 284 302.55 328.357 Tu TISCO 260, 231 265.85 295, 316 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.