Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Capital Goods, IT, FMCG, Auto, Metals, Oil, PSU, Tech, Healthcare & Realty have ended negative in varying degrees while the Consumer Durables sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Sensex (Daily)
Last Close - 17998.39 | Support - 953, 17494 | Resistance - 18327, 18537

Trading Range - The Sensex opened at 18827.46, moved up to an intra-day high of 19198.66, declined to an intra-day low of 17771.16 and closed at 17998.39. 

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended sharply in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 18019 level while resistance at higher levels (18436) – would limit the upside. The outlook has turned bullish again while resistance comes in at the 20800+ level and support comes in at the 16800 level. 

Fort. Fin. Ser. (Daily)

Last Close - 119.35 | Support - 097, 068 | Resistance - 125, 150

Trading Range - The scrip opened at 111.25, moved up to an intra-day high of 119.35, declined to an intra-day low of 111.25 and closed at 119.35.

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.   

Hind. Hardy. (Daily)

Last Close - 104.25 | Support - 099, 080 | Resistance - 120, 155

Trading Range - The scrip opened at 095.50, moved up to an intra-day high of 110.85, declined to an intra-day low of 091.00 and closed at 104.25.

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.   

Borax Morarji. (Daily)

Last Close - 064.30 | Support - 055, 038 | Resistance - 076, 100

Trading Range -  The scrip opened at 056.00, moved up to an intra-day high of 064.30, declined to an intra-day low of 056.00 and closed at 064.30.

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.       

Autolite Ind. (Daily)

Last Close - 108.35 |  Support - 101, 088 | Resistance - 125, 150

Trading Range - The scrip opened at 109.80, moved up to an intra-day high of 110.80, declined to an intra-day low of 106.30 and closed at 108.35.

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	1025, 994	1036.00	1099, 1155	Up
DR. REDDY	610, 579	612.55	645, 669	Dt
HUL	203, 192	209.55	216, 224	Td
INFOSYS	1883, 1834	1888.40	1962, 2009	Sd
ITC	180, 168	182.95	193, 213	Tu
RIL	2539, 2426	2575.90	2615, 2682	Up
SATYAM	443, 425	462.55	471, 496	Tu
SBI	1636, 1591	1677.45	1726, 1782	Sd
T MOTORS	771, 749	783.70	811, 849	Up
TISCO	820, 762	836.15	858, 890	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.

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