Stock picks of the day

The market once again shown fine momentum to sustain itself at higher levels to end the day smartly in positive territory. Banks, Consumer Durables, IT, Pharma, Capital Goods, FMCG, Auto, Oil and PSU's have ended positive in varying degrees while Metals have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 12310.72 | Support - 12300, 12200 | Resistance - 12400, 12500

Trading Range - The Sensex opened at 12231.12, moved up to an intra-day high of 12337.01, declined to an intra-day low of 12134.19 and closed at 12310.72.

Review/Outlook - The Sensex has once again created history to not only post a fresh all time high but has also given an all time high closing on clearly higher volume.  The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture seems to be improving again while an intra-day upside above the 12337 level can not be ruled out.   

Selan Explo. (Daily)

Last Close - 103.40 | Support - 099, 083 | Resistance - 125, 150

Trading Range - The scrip opened at 101.85, moved up to an intra-day high of 103.40, declined to an intra-day low of 098.00 and closed at 103.40.

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

Ratnamani Metal. (Daily) 

Last Close - 474.05 | Support - 452, 412 | Resistance - 500, 550

Trading Range - The scrip opened at 457.75, moved up to an intra-day high of 474.05, declined to an intra-day low of 457.75 and closed at 474.05.

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.

Kabra Extr. (Daily)

Last Close - 116.70 | Support - 111, 092 | Resistance - 131, 150

Trading Range - The scrip opened at 105.20, moved up to an intra-day high of 116.70, declined to an intra-day low of 105.20 and closed at 116.70.

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. 

ITD Cement. (Daily)

Last Close - 1334.25 | Support - 1300, 1200 | Resistance - 1400, 1500 

Trading Range - The scrip opened at 1299.95, moved up to an intra-day high of 1334.25, declined to an intra-day low of 1240.00 and closed at 1334.25.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close 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	950, 900	984.90	1000, 1100	Tu
DR. REDDY	1600, 1500	1651.55	1700, 1800	Tu
HLL	281, 266	294.05	295, 305	Tu
INFOSYS	3155, 3074	3177.25	3250, 3543	Sd
ITC	190, 180	208.85	210, 225	Tu
RIL	1000, 950	1034.75	1050, 1100	Up
SATYAM	770, 752	771.65	810, 830	Sd
SBI	950, 926	961.15	1000, 1050	Tu
T MOTORS	950, 900	960.25	999, 1050	Sd
TISCO	605, 550	664.55	700, 800	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.