Stock picks of the day

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

Trading Range - The Sensex opened at 13823.40, moved up to an intra-day high of 13901.12, declined to an intra-day low of 13693.59 and closed at 13872.37.

Review/Outlook - The Sensex has reflected some amount of strength by receiving a lot of buying support, hasn't been able to sustain itself at lower levels, has come off rather sharply from its intra-day low and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside above the 13901 level seems like a possibility while some resistance can be expected at higher levels (14035 - which could limit the downside) while a downside could come in only below the 13693 level. The outlook seems to have turned slightly better while resistance comes in at the 14400+ level and support comes in at the 13700 level.

Trading Range - The scrip opened at 078.00, moved up to an intra-day high of 078.15, declined to an intra-day low of 073.00 and closed at 078.15.

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 343.00, moved up to an intra-day high of 350.60, declined to an intra-day low of 335.15 and closed at 350.60.

Review/Outlook - The scrip has reflected 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 400.00, moved up to an intra-day high of 420.00, declined to an intra-day low of 400.00 and closed at 420.00.

Review/Outlook - The scrip has reflected 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 163.05, moved up to an intra-day high of 178.50, declined to an intra-day low of 163.05 and closed at 175.00.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	829, 793	838.85	856, 892	Tu
DR. REDDY	689, 669	709.60	712, 733	Sd
HLL	192, 183	199.40	203, 216	Sd
INFOSYS	1962, 1883	2049.35	2061, 2133	Sd
ITC	155, 144	160.00	168, 180	Tu
RIL	1547, 1496	1560.10	1625, 1700	Up
SATYAM	443, 425	473.10	475, 500	Tu
SBI	1100, 1050	1105.25	1135, 1166	Up
T MOTORS	749, 722	750.45	771, 811	Tu
TISCO	543, 518	549.60	570, 593	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 even be having contrary positions in the stocks mentioned above.