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, FMCG, Auto, Metals, IT, PSU, Capital Goods, Consumer Durables, Healthcare & Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed shaky.

Trading Range - The Sensex opened at 15452.44, moved up to an intra-day high of 15542.40, declined to an intra-day low of 15062.10 and closed at 15100.15.

Review/Outlook - The Sensex has had a mixed trading session, has had a strong opening, has appreciated after receiving buying support even at higher levels but has come off from its intra - day high and has finally ended in negative territory on clearly higher volume. Volatility can be the order of the day; an intra-day downside (seems like a formality) could come in below the 15062 level while some support at lower levels (14683) - could limit the downside. The outlook seems to have turned weak again while resistance comes in at the 16000+ level and support comes in at the 14560 level.

Trading Range - The scrip opened at 1211.00, moved up to an intra-day high of 1220.00, declined to an intra-day low of 1131.05 and closed at 1139.25.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 316.00, moved up to an intra-day high of 323.70, declined to an intra-day low of 313.50 and closed at 315.30.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 447.40, moved up to an intra-day high of 457.00, declined to an intra-day low of 440.10 and closed at 441.90.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 621.00, moved up to an intra-day high of 624.00, declined to an intra-day low of 597.00 and closed at 599.95.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	994, 965	1000.95	1057, 1099	Sd
DR. REDDY	610, 579	638.00	645, 669	Dt
HUL	192, 183	201.05	203, 216	Sd
INFOSYS [Get Quote]	1883, 1812	1935.90	1962, 2009	Sd
ITC	155, 144	164.10	168, 180	Up
RIL [Get Quote]	1834, 1785	1842.00	1878, 1948	Tu
SATYAM [Get Quote]	443, 425	467.10	471, 496	Sd
SBI [Get Quote]	1636, 1591	1649.60	1700, 1750	Sd
T MOTORS	635, 610	663.00	670, 698	Td
TISCO [Get Quote]	646, 617	652.45	670, 695	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.