Stock picks of the day

The market despite notching smart early gains hasn't been able to sustain itself at higher levels and has ended in negative territory. Banks, Capital Goods, FMCG, Consumer Durables, PSU's and the Pharma sector have all ended negative in varying degrees while the IT sector has ended in positive territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 9170.40 | Support - 9034, 8960 | Resistance - 9176, 9274

Trading Range - The Sensex opened at 9259.78, moved up to an intra-day high of 9298.28, declined to an intra-day low of 9117.26 and closed at 9170.40.

Review/Outlook - The Sensex has run into resistance at the whereabouts of the 9300 level and has finally cooled off a bit to end in negative territory but this decline has been accompanied by lower volume. The outlook is a bit hazy, while support comes in at the 9113 level and a minor downward bias cannot be ruled out.     

Asian Elect. (Daily)

Last Close - 365.25 | Support - 350, 324 | Resistance - 400, 450 

Trading Range - The scrip opened at 340.00, moved up to an intra-day high of 365.25, declined to an intra-day low of 338.40 and closed at 365.25.

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

D S Kulkarni (Daily)

Last Close - 159.70 | Support - 151, 131 | Resistance - 170, 192

Trading Range - The scrip opened at 150.25, moved up to an intra-day high of 159.70, declined to an intra-day low of 148.05 and closed at 159.70.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Vimta Lab. (Daily)

Last Close - 908.45 | Support - 861, 772 | Resistance - 926, 999

Trading Range - The scrip opened at 830.05, moved up to an intra-day high of 908.45, declined to an intra-day low of 830.05 and closed at 908.45.

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

Integra Hind. (Daily)

Last Close - 235.20 | Support - 229, 204 | Resistance - 253, 291 

Trading Range - The scrip opened at 225.05, moved up to an intra-day high of 235.45, declined to an intra-day low of 224.00 and closed at 235.20.

Review/Outlook - The scrip has reflected strength by recovering 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	516, 500	536.20	542, 569	Up
DR. REDDY	879, 850	930.40	934, 998	Tu
HLL	183, 172	187.05	192, 203	Tu
INFOSYS	2813, 2769	2918.65	3074, 3453	Up
ITC	136, 126	140.40	144, 150	Up
RIL	810, 780	845.35	850, 900	Tu
SATYAM	700, 678	719.40	750, 800	Up
SBI	871, 850	897.10	900, 926	Sd
T MOTORS	600, 568	611.85	650, 700	Up
TISCO	361, 349	438.35	373, 390	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, 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.