Stock picks of the day

The market has moved up virtually from open to close and has ended the day clearly in positive territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Oil, Pharma, Consumer Durables and IT have ended positive in varying degrees while the no sector has ended in negative territory. Volume registered a wafer-thin increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close - 9545.06 | Support - 9423, 9348 | Resistance - 9547, 9665

Trading Range - The Sensex opened at 9133.36, moved up to an intra-day high of 9589.05, declined to an intra-day low of 9092.16 and closed at 9545.06.

Review/Outlook - The Sensex has staged a smart recovery and has in fact appreciated with an upward gap (from an intra-day point of view) to end sharply in positive territory but on marginally higher volume. The outlook remains hazy and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in only above the 9589 level but sustainability still remains the key issue.                   

Kinetic Eng. (Daily)

Last Close - 120.25 | Support - 118, 090 | Resistance - 140, 165

Trading Range - The scrip opened at 110.00, moved up to an intra-day high of 120.50, declined to an intra-day low of 109.10 and closed at 120.25.

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. 

Zuari Ind. (Daily)

Last Close - 142.35 | Support - 134, 112 | Resistance - 148, 179

Trading Range - The scrip opened at 134.15, moved up to an intra-day high of 142.35, declined to an intra-day low of 131.40 and closed at 142.35.

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.       

Mangalam Cem. (Daily)

Last Close - 127.60 | Support - 117, 096 | Resistance - 141, 175

Trading Range - The scrip opened at 123.90, moved up to an intra-day high of 127.60, declined to an intra-day low of 115.50 and closed at 127.60.

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.       

Madras Alum. (Daily)

Last Close - 242.35 | Support - 226, 183 | Resistance - 250, 296 

Trading Range - The scrip opened at 223.55, moved up to an intra-day high of 242.35, declined to an intra-day low of 219.40 and closed at 242.35.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	724, 697	736.45	750, 793	Sd
DR. REDDY	1150, 1089	1217.70	1225, 1282	Os
HLL	192, 183	202.30	203, 216	Sd
INFOSYS	2650, 2537	2728.25	2769, 2813	Dt
ITC	155, 144	155.60	168, 180	Sd
RIL	858, 820	895.20	897, 925	Dt
SATYAM	616, 594	616.10	645, 678	Sd
SBI	725, 695	773.05	784, 809	Sd
T MOTORS	670, 635	694.65	698, 722	Dt
TISCO	411, 390	413.70	425, 437	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.