Stock picks of the day

The market has faced selling pressure at higher levels despite an intra-day recovery, has just about ended in positive territory. The Consumer Durables and the Oil sector has ended positive in varying degrees while Capital Goods, FMCG, Auto, Banks, IT, Metals, Pharma and the PSU sector have ended in negative territory. Volume registered a significant increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 9314.13 | Support - 9274, 9176 | Resistance - 9348, 9423

Trading Range - The Sensex opened at 9317.99, moved up to an intra-day high of 9421.52, declined to an intra-day low of 9289.23 and closed at 9314.13.

Review/Outlook - The Sensex continues to reflect incoherent movements while the rest of the market seems weak it is only the Reliance factor which has single-handedly stabilised the Sensex. The outlook remains hazy and volatility can be expected to rule the roost, it would be better to adopt a cautious approach for the time being.     

Hero Honda (Daily)

Last Close - 834.40 | Support - 819, 783 | Resistance - 841, 866

Trading Range - The scrip opened at 844.00, moved up to an intra-day high of 848.00, declined to an intra-day low of 832.75 and closed at 834.40.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

CESC (Daily)

Last Close - 255.80 | Support - 253, 235 | Resistance - 263, 330

Trading Range - The scrip opened at 262.90, moved up to an intra-day high of 265.95, declined to an intra-day low of 254.00 and closed at 255.80.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

Tata Tea (Daily)

Last Close - 930.85 | Support - 922, 879 | Resistance - 969, 1043

Trading Range - The scrip opened at 952.00, moved up to an intra-day high of 953.00, declined to an intra-day low of 928.00 and closed at 930.85.

Review/Outlook - The scrip has reflected weakness by posting a 13 trading session low and with the indicators looking negative, a further downside seems to be on the cards.

Syndicate Bank (Daily)

Last Close - 098.05 | Support - 097, 088 | Resistance - 102, 131 

Trading Range - The scrip opened at 100.70, moved up to an intra-day high of 101.45, declined to an intra-day low of 098.00 and closed at 098.05.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	542, 516	542.35	569, 610	Td
DR. REDDY	998, 934	1017.10	1049, 1089	Sd
HLL	183, 172	186.00	192, 203	Td
INFOSYS	2650, 2537	2762.20	2769, 2813	Dt
ITC	136, 126	142.45	144, 155	Td
RIL	900, 850	928.15	900, 1000	Sd
SATYAM	705, 678	725.55	737, 750	Td
SBI	900, 871	907.25	926, 950	Td
T MOTORS	600, 568	628.85	635, 650	Sd
TISCO	331, 316	348.45	349, 361	Dt

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.