Stock picks of the day

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

Trading Range - The Sensex opened at 12992.62, moved up to an intra-day high of 13050.73, declined to an intra-day low of 12937.30 and closed at 13033.04.

Review/Outlook - The Sensex has staged a smart recovery from lower levels despite being relatively range bound (has stayed within the previous day's trading range) to end in positive territory on slightly lower volume. A range bound movement seems to be on the cards while an intra-day upside cannot be ruled out especially above the 12051 level while intra-day support comes in at the 12993 level indicating a rather limited downside.

Trading Range - The scrip opened at 295.25, moved up to an intra-day high of 345.00, declined to an intra-day low of 292.00 and closed at 335.55.

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 175.00, moved up to an intra-day high of 181.90, declined to an intra-day low of 173.00 and closed at 181.90.

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 162.00, moved up to an intra-day high of 166.75, declined to an intra-day low of 161.40 and closed at 166.75.

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 286.50, moved up to an intra-day high of 301.90, declined to an intra-day low of 286.00 and closed at 300.15.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	924, 892	978.60	979, 1022	Td
DR. REDDY	733, 700	751.35	757, 795	Tu
HLL [Get Quote]	224, 216	236.95	240, 252	Sd
INFOSYS [Get Quote]	2100, 2000	2103.80	2200, 2300	Tu
ITC	190, 180	190.60	210, 225	Sd
RIL [Get Quote]	1250, 1195	1264.20	1300, 1350	Up
SATYAM [Get Quote]	430, 415	434.90	443, 475	Tu
SBI [Get Quote]	1100, 1050	1116.05	1190, 1250	Tu
T MOTORS	811, 771	829.25	849, 888	Td
TISCO [Get Quote]	480, 466	489.95	500, 530	Td

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 even be having contrary positions in the stocks mentioned above.