Stock picks of the day

The market has continued its upmove to once again stage a significant rally to end smartly in positive territory. Banks, Capital Goods, Pharma, Consumer Durables, FMCG, IT and PSU's have all ended positive in varying degrees while no sector has ended in negative territory. Volume registered a smart increase (read as turnover) while the undertone seemed distinctly bullish.

Sensex (Daily)

Last Close - 8471.04 | Support - 8446, 8376 | Resistance - 8520, 8648

Trading Range - The Sensex opened at 8332.94, moved up to an intra-day high of 8483.68, declined to an intra-day low of 8322.94 and closed at 8471.04.

Review/Outlook - The Sensex has once again reflected a significant amount of resilience by closing above the psychologically important level of 8400 while volume has also been reassuring enough and has moved up with prices. The outlook seems to be turning positive once again while resistance comes in at the 8520 level.

GE Cap. Trans. (Daily)

Last Close - 074.40 | Support - 069, 061 | Resistance – 082, 093

Trading Range – The scrip opened at 069.75, moved up to an intra-day high of 074.65, declined to an intra-day low of 069.00 and closed at 074.40.

Review/Outlook – The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards.

Super Sales Ltd. (Daily)

Last Close - 187.35 | Support - 187, 132 | Resistance - 210, 250

Trading Range - The scrip opened at 177.00, moved up to an intra-day high of 187.35, declined to an intra-day low of 175.00 and closed at 187.35.

Review/Outlook - The scrip has reflected strength by appreciating from open to close and with the indicators looking positive, a further upside seems to be on the cards.

ICICI Bank (Daily)

Last Close - 515.20 | Support - 512, 498 | Resistance - 529, 550

Trading Range - The scrip opened at 504.50, moved up to an intra-day high of 518.00, declined to an intra-day low of 504.00 and closed at 515.20.

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.

Vid. Int'nl. (Daily)

Last Close - 084.30 | Support - 080, 069 | Resistance - 090, 105

Trading Range - The scrip opened at 081.40, moved up to an intra-day high of 084.75, declined to an intra-day low of 081.10 and closed at 084.30.

Review/Outlook - The scrip has reflected strength to post a smart intra-day recovery to end in positive territory 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	477, 450	482.65	500, 550	Up
DR. REDDY	934, 879	938.55	998, 1089	Up
HLL	172, 163	172.25	183, 192	Tu
INFOSYS	2537, 2460	2681.60	2650, 2769	Up
ITC	126, 117	130.10	136, 144	Tu
RIL	780, 740	795.55	810, 900	Tu
SATYAM	645, 616	651.70	700, 750	Up
SBI	850, 800	871.20	900, 950	Tu
T MOTORS	494, 472	513.70	518, 543	Tu
TISCO	361, 349	371.30	373, 390	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.