Stock picks of the day

The market has actually moved both ways, has come off its intra-day low and has finally ended the day in positive territory. Healthcare, IT, Banks, Metals, Oil, Auto & PSU's have ended positive in varying degrees while the Capital Goods, Consumer Durables & the FMCG sector have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Trading Range - The Sensex opened at 13695.60, moved up to an intra-day high of 13744.17, declined to an intra-day low of 13416.40 and closed at 13731.09.

Review/Outlook - The Sensex has reflected some amount of relative strength by opening with an upward gap and after moving both ways has recovered to virtually end at the day's highest point in positive territory on clearly lower volume. Volatility can be the order of the day, the positives of the last trading session are expected to spill over to today's trading session indicating the possibility of an intra-day upside while it would still be premature to comment on the sustainability factor.

Trading Range - The scrip opened at 124.70, moved up to an intra-day high of 126.85, declined to an intra-day low of 120.35 and closed at 126.85.

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.

Trading Range - The scrip opened at 082.00, moved up to an intra-day high of 087.35, declined to an intra-day low of 078.00 and closed at 086.75.

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.

Trading Range - The scrip opened at 206.50, moved up to an intra-day high of 229.90, declined to an intra-day low of 201.50 and closed at 229.90.

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.

Trading Range - The scrip opened at 119.90, moved up to an intra-day high of 122.85, declined to an intra-day low of 112.00 and closed at 122.85.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	1022, 979	1053.20	1061, 1110	Sd
DR. REDDY	795, 757	804.45	840, 877	Up
HLL [Get Quote]	224, 216	230.15	240, 252	Sd
INFOSYS [Get Quote]	2200, 2100	2222.95	2300, 2400	Sd
ITC	168, 155	174.15	180, 190	Sd
RIL [Get Quote]	1241, 1195	1289.15	1293, 1350	Tu
SATYAM [Get Quote]	475, 443	479.85	500, 538	Tu
SBI [Get Quote]	1250, 1190	1268.35	1300, 1350	Sd
T MOTORS	888, 849	888.80	920, 944	Sd
TISCO [Get Quote]	466, 452	467.40	480, 500	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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.


		Discuss \| Share with friends \| Print \| Ask a question \| Get latest news on your desktop