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 positive territory. Banks, FMCG, Healthcare, IT, Realty, Metal, Oil, Auto & Consumer Durables have ended positive in varying degrees while Capital Goods & PSU have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Trading Range - The Sensex opened at 16288.76, moved up to an intra-day high of 16413.80, declined to an intra-day low of 16198.56 and closed at 16244.19.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive opening, has moved both ways, has faced selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 16259 level while significant resistance at higher levels (16341) - would limit the upside. The outlook has turned positive again while resistance comes in at the 16609+ level and support comes in at the 15300 level.

Trading Range - The scrip opened at 163.20, moved up to an intra-day high of 169.10, declined to an intra-day low of 163.20 and closed at 166.60.

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.

Trading Range - The scrip opened at 219.40, moved up to an intra-day high of 232.55, declined to an intra-day low of 211.50 and closed at 230.60.

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.

Trading Range - The scrip opened at 167.60, moved up to an intra-day high of 181.00, declined to an intra-day low of 163.00 and closed at 175.50.

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.

Trading Range - The scrip opened at 187.00, moved up to an intra-day high of 195.00, declined to an intra-day low of 187.00 and closed at 193.30.

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	778, 750	806.25	829, 856	Tu
DR. REDDY	579, 530	602.25	610, 645	Tu
HUL	240, 224	241.05	252, 272	Tu
INFOSYS [Get Quote]	1510, 1457	1599.85	1667, 1723	Up
ITC	193, 180	210.05	213, 227	Up
RIL [Get Quote]	2615, 2539	2644.80	2684, 2724	Up
SATYAM [Get Quote]	443, 425	454.05	475, 522	Up
SBI [Get Quote]	1624, 1539	1666.00	1760, 1802	Tu
T MOTORS	600, 567	613.25	635, 670	Sd
T STEEL	670, 642	690.65	695, 731	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 not only be having positions but could even be having contrary positions in the stocks mentioned above.