Stock picks of the day

The market has opened with an upward gap to move up virtually from open to close to end the day in positive territory. Consumer Durables, Auto, PSU, Metals, Pharma and the IT Capital Goods and the FMCG sector have ended positive in varying degrees while Banks and the Oil sector have ended in negative territory. Volume registered a significant decrease (read as turnover) while the undertone seemed hopeful.

Trading Range - The Sensex opened at 9503.42, moved up to an intra-day high of 9574.14, declined to an intra-day low of 9503.42 and closed at 9549.92.

Review/Outlook - The Sensex has shown a surprising about of resilience to stage a smart comeback but despite the recovery, the picture continues to remain corrective. A decisive close above the 9665 level is a must while the current ongoing movements still remain rather inconclusive while resistance comes in at higher levels.

Trading Range - The scrip opened at 142.90, moved up to an intra-day high of 142.90, declined to an intra-day low of 139.00 and closed at 142.90.

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 184.80, moved up to an intra-day high of 199.00, declined to an intra-day low of 184.80 and closed at 198.10.

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 238.50, moved up to an intra-day high of 255.15, declined to an intra-day low of 233.10 and closed at 255.15.

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 142.45, moved up to an intra-day high of 145.80, declined to an intra-day low of 142.00 and closed at 145.80.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	542, 516	549.40	569, 610	Td
DR. REDDY	998, 934	1043.05	1049, 1089	Tu
HLL [Get Quote]	183, 172	188.25	192, 203	Sd
INFOSYS [Get Quote]	2813, 2769	2819.05	2938, 3075	Dt
ITC	144, 136	154.60	155, 170	Up
RIL [Get Quote]	675, 650	693.35	700, 725	Sd
SATYAM [Get Quote]	730, 705	732.75	752, 770	Sd
SBI [Get Quote]	900, 871	901.30	926, 950	Td
T MOTORS	650, 635	663.75	670, 700	Tu
TISCO [Get Quote]	361, 349	363.75	373, 390	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.

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