Stock picks of the day

The market has actually moved just one way, has come off its intra-day low and has finally ended the day in positive territory. FMCG, Banks, Capital Goods, IT, PSU, Auto, Consumer Durables, Healthcare, Metals & Oil have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed positive.

Trading Range - The Sensex opened at 13734.01, moved up to an intra-day high of 13911.59, declined to an intra-day low of 13734.01 and closed at 13859.69.

Review/Outlook - The Sensex has finally reflected some amount of strength by coming off smartly from its intra-day low by moving in just one direction to end sharply in positive territory on noticeable higher volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day upside (especially above the 13912 level) while late resistance can put a question mark over sustainability in the very near term.

Trading Range - The scrip opened at 132.70, moved up to an intra-day high of 132.70, declined to an intra-day low of 131.80 and closed at 132.70.

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.

Trading Range - The scrip opened at 390.00, moved up to an intra-day high of 415.15, declined to an intra-day low of 380.00 and closed at 415.15.

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.

Trading Range - The scrip opened at 503.90, moved up to an intra-day high of 549.00, declined to an intra-day low of 503.00 and closed at 549.00.

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.

Trading Range - The scrip opened at 171.00, moved up to an intra-day high of 181.30, declined to an intra-day low of 171.00 and closed at 181.30.

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	1061, 1022	1073.00	1110, 1155	Sd
DR. REDDY	795, 757	807.55	840, 877	Up
HLL [Get Quote]	216, 203	219.55	224, 240	Td
INFOSYS [Get Quote]	2133, 2061	2253.30	2270, 2400	Tu
ITC	168, 155	176.40	180, 190	Sd
RIL [Get Quote]	1241, 1195	1292.85	1293, 1350	Tu
SATYAM [Get Quote]	475, 443	492.00	500, 538	Tu
SBI [Get Quote]	1250, 1190	1250.85	1300, 1350	Sd
T MOTORS	888, 849	906.85	920, 944	Tu
TISCO [Get Quote]	480, 466	481.30	500, 518	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, 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 even be having contrary positions in the stocks mentioned above.