Stock picks of the day

The market has moved up smartly 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 noticeable increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close - 9884.51 | Support - 9880, 9820 | Resistance - 9946, 10020

Trading Range - The Sensex opened at 9703.06, moved up to an intra-day high of 10118.28, declined to an intra-day low of 9703.06 and closed at 9884.51.

Review/Outlook - The Sensex has staged a smart recovery and has in fact appreciated with an upward gap (from a daily chart point of view) to end sharply in positive territory but on clearly 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 9946 & the 10118 level but sustainability still remains the key issue.                    

Kinetic Eng. (Daily)

Last Close - 125.65 | Support - 118, 090 | Resistance - 140, 165

Trading Range - The scrip opened at 119.15, moved up to an intra-day high of 126.25, declined to an intra-day low of 114.25 and closed at 125.65.

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. 

Oriental Hotel. (Daily)

Last Close - 347.80 | Support - 338, 300 | Resistance - 353, 394

Trading Range - The scrip opened at 330.00, moved up to an intra-day high of 359.70, declined to an intra-day low of 315.05 and closed at 347.80.

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 - 133.95 | Support - 117, 096 | Resistance - 141, 175

Trading Range - The scrip opened at 133.95, moved up to an intra-day high of 133.95, declined to an intra-day low of 133.95 and closed at 133.95.

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.       

KSB Pumps. (Daily)

Last Close - 394.80 | Support - 381, 352 | Resistance - 423, 464 

Trading Range - The scrip opened at 393.00, moved up to an intra-day high of 394.80, declined to an intra-day low of 381.00 and closed at 394.80.

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	732.90	750, 793	Sd
DR. REDDY	1225, 1150	1270.85	1282, 1342	Sd
HLL	216, 203	216.20	224, 240	Sd
INFOSYS	2769, 2650	2801.20	2813, 2938	Sd
ITC	155, 144	163.45	168, 180	Sd
RIL	897, 858	920.80	925, 949	Sd
SATYAM	645, 616	670.90	678, 705	Tu
SBI	725, 695	767.70	784, 809	Sd
T MOTORS	722, 698	725.60	749, 771	Dt
TISCO	452, 437	461.95	466, 500	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.