Stock picks of the day

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

Trading Range - The Sensex opened at 17515.62, moved up to an intra-day high of 17526.80, declined to an intra-day low of 17294.73 and closed at 17349.07.

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has received selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 17357 level while significant resistance at higher levels (17546) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.

Trading Range - The scrip opened at 637.00, moved up to an intra-day high of 680.00, declined to an intra-day low of 637.00 and closed at 663.40.

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 580.05, moved up to an intra-day high of 634.45, declined to an intra-day low of 580.05 and closed at 634.25.

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 348.75, moved up to an intra-day high of 364.95, declined to an intra-day low of 339.20 and closed at 364.95.

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 175.00, moved up to an intra-day high of 195.40, declined to an intra-day low of 168.00 and closed at 172.70.

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	750, 724	774.30	778, 829	Sd
DR. REDDY	530, 487	539.75	579, 610	Sd
HUL	203, 192	215.75	216, 224	Sd
INFOSYS [Get Quote]	1510, 1457	1580.10	1667, 1723	Tu
ITC	193, 180	200.10	213, 227	Sd
RIL [Get Quote]	2426, 2309	2429.80	2539, 2615	Sd
SATYAM [Get Quote]	425, 406	438.80	443, 475	Sd
SBI [Get Quote]	2105, 2050	2114.70	2180, 2279	Sd
T MOTORS	670, 635	694.70	698, 722	Sd
T STEEL	762, 731	803.45	820, 858	Sd

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.