Stock picks of the day

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

Trading Range - The Sensex opened at 17212.61, moved up to an intra-day high of 17212.61, declined to an intra-day low of 17038.03 and closed at 17080.65.

Review/Outlook - The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has faced 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 downside (seems like a possibility) could come in below the 17063 level while significant support at lower levels (16859) - would limit the downside and result in a late recovery. The outlook has turned positive again while resistance comes in at the 18300+ level and support comes in at the 16600 level.

Trading Range - The scrip opened at 171.00, moved up to an intra-day high of 184.00, declined to an intra-day low of 162.00 and closed at 177.20.

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 061.00, moved up to an intra-day high of 064.25, declined to an intra-day low of 059.00 and closed at 064.25.

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 070.00, moved up to an intra-day high of 073.30, declined to an intra-day low of 070.00 and closed at 073.30.

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.

Trading Range - The scrip opened at 190.00, moved up to an intra-day high of 198.00, declined to an intra-day low of 188.00 and closed at 196.35.

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	724, 697	743.25	750, 778	Os
DR. REDDY	645, 610	656.40	689, 712	Up
HUL	240, 224	250.95	252, 272	Up
INFOSYS [Get Quote]	1785, 1723	1779.80	1834, 1917	Up
ITC	213, 193	215.05	227, 240	Up
RIL [Get Quote]	2615, 2539	2666.15	2684, 2724	Up
SATYAM [Get Quote]	443, 425	471.10	475, 493	Up
SBI [Get Quote]	1722, 1678	1729.80	1760, 1802	Tu
T MOTORS	635, 600	669.10	670, 698	Tu
T STEEL	820, 762	845.65	858, 890	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 not only be having positions but could even be having contrary positions in the stocks mentioned above.