Stock picks of the day

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

Trading Range - The Sensex opened at 13827.77, moved up to an intra-day high of 13980.54, declined to an intra-day low of 13797.44 and closed at 13942.24.

Review/Outlook - The Sensex has finally reflected some amount of strength by coming off sharply from its intra-day low by appreciating with an upward gap to finally end clearly in positive territory on distinctly lower 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 13981 level) while support comes in at the 13903 level.

Trading Range - The scrip opened at 139.65, moved up to an intra-day high of 144.30, declined to an intra-day low of 137.00 and closed at 144.30.

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.

Trading Range - The scrip opened at 197.50, moved up to an intra-day high of 209.80, declined to an intra-day low of 197.50 and closed at 209.80.

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 145.80, moved up to an intra-day high of 158.60, declined to an intra-day low of 144.95 and closed at 158.60.

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 110.10, moved up to an intra-day high of 115.35, declined to an intra-day low of 110.10 and closed at 115.35.

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	1092.40	1110, 1155	Tu
DR. REDDY	795, 757	805.95	840, 877	Sd
HLL	216, 203	216.45	224, 240	Td
INFOSYS	2270, 2133	2272.45	2400, 2500	Tu
ITC	168, 155	176.85	180, 190	Sd
RIL	1241, 1195	1281.65	1293, 1350	Tu
SATYAM	500, 475	508.35	538, 600	Up
SBI	1250, 1190	1254.10	1300, 1350	Sd
T MOTORS	920, 888	929.90	944, 970	Up
TISCO	466, 452	478.40	480, 500	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.