Stock picks of the day

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

Sensex (Daily)

Last Close - 18512.91 | Support - 18327, 17953 | Resistance - 18537, 18833

Trading Range - The Sensex opened at 18727.90, moved up to an intra-day high of 18832.49, declined to an intra-day low of 18317.17 and closed at 18512.91. 

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 mildly in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 18495 level while support at lower levels (18031) – would limit the downside. The outlook has turned bullish again while resistance comes in at the 20800+ level and support comes in at the 16800 level. 

IL& FS. (Daily)

Last Close - 306.75 | Support - 270, 239 | Resistance - 318, 354

Trading Range - The scrip opened at 299.80, moved up to an intra-day high of 306.75, declined to an intra-day low of 278.55 and closed at 306.75.

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.   

Bombay Burmah. (Daily)

Last Close - 632.85 | Support - 618, 469| Resistance - 661, 769

Trading Range - The scrip opened at 651.90, moved up to an intra-day high of 653.00, declined to an intra-day low of 631.00 and closed at 652.85.

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.   

Swan Mills. (Daily)

Last Close - 135.00 | Support - 123, 106| Resistance - 142, 160

Trading Range - The scrip opened at 135.00, moved up to an intra-day high of 135.00, declined to an intra-day low of 133.00 and closed at 135.00.

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.        

Karuturi Network. (Daily)

Last Close - 199.90 | Support - 172, 160 | Resistance - 218, 240

Trading Range - The scrip opened at 197.40, moved up to an intra-day high of 203.70, declined to an intra-day low of 195.20 and closed at 199.90.

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	1078.10	1099, 1155	Sd
DR. REDDY	610, 579	629.95	645, 669	Dt
HUL	203, 192	215.30	216, 224	Dt
INFOSYS	1834, 1785	1844.50	1883, 1962	Sd
ITC	180, 168	184.70	193, 213	Tu
RIL	2539, 2426	2609.50	2615, 2682	Sd
SATYAM	443, 425	460.90	471, 496	Tu
SBI	1877, 1837	1908.00	1909, 2000	Sd
T MOTORS	771, 749	774.65	811, 849	Up
TISCO	890, 858	915.40	924, 950	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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Sebi Disclosure: The author is an active market participant and could not only be having positions but could even be having contrary positions in the stocks mentioned above.