Stock picks of the day

The market has had a decent opening but hasn't been able to sustain itself at higher levels and has ended the day sharply in negative territory. Banks, Consumer Durables, FMCG, Pharma, Metals, Oil, IT, Capital Goods, Auto and PSU's have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a clear increase (read as turnover) while the undertone seemed depressed.

Sensex (Daily)

Last Close - 11356 | Support - 11300, 11200 | Resistance - 11400, 11500

Trading Range - The Sensex opened at 11693, moved up to an intra-day high of 11703, declined to an intra-day low of 11303 and closed at 11356.

Review/Outlook - The Sensex has virtually collapsed from an intra-day point of view on significantly higher volume to end sharply in negative territory by giving a downward bar reversal on the daily chart. The bigger picture continues to remain quite solid even now while intra-day weakness could come in only below the 11303 level and intra-day support comes in at the 11228 level.   

Kirl. Pneum. (Daily)

Last Close - 427.75 | Support - 400, 350 | Resistance - 450, 500

Trading Range - The scrip opened at 420.00, moved up to an intra-day high of 429.30, declined to an intra-day low of 410.50 and closed at 427.75.

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. 

Sub. Projects (Daily)

Last Close - 219.50 | Support - 200, 156 | Resistance - 250, 300

Trading Range - The scrip opened at 215.70, moved up to an intra-day high of 219.50, declined to an intra-day low of 215.10 and closed at 219.50.

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.

Sakthi Sugar. (Daily)

Last Close - 252.35 | Support - 250, 229 | Resistance - 300, 350

Trading Range - The scrip opened at 245.45, moved up to an intra-day high of 263.15, declined to an intra-day low of 240.00 and closed at 252.35.

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. 

Vakrangee Soft. (Daily)

Last Close - 148.10 | Support - 143, 130 | Resistance - 150, 200 

Trading Range - The scrip opened at 142.85, moved up to an intra-day high of 148.10, declined to an intra-day low of 142.45 and closed at 148.10.

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	900, 850	911.25	950, 1000	Up
DR. REDDY	1400, 1342	1425.25	1466, 1500	Tu
HLL	266, 252	273.70	281, 295	Up
INFOSYS	3074, 2938	3075.30	3453, 3600	Up
ITC	190, 180	192.35	210, 225	Up
RIL	800, 775	828.55	850, 900	Up
SATYAM	770, 752	798.50	810, 830	Sd
SBI	926, 900	936.35	950, 1000	Sd
T MOTORS	900, 850	903.95	950, 999	Sd
TISCO	550, 500	559.05	605, 700	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.