Stock picks of the day

The market has remained volatile, has moved just one way and has finally ended the day in negative territory. Banks, Capital Goods, Consumer Durables, Auto, Metals, FMCG, Healthcare, PSU's, Oil and IT have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed subdued.

Trading Range - The Sensex opened at 12757.31, moved up to an intra-day high of 12766.30, declined to an intra-day low of 12612.36 and closed at 12623.28.

Review/Outlook - The Sensex has reflected some amount of weakness by not only posting a lower top lower bottom on the daily chart but also by posting a fresh 8 trading session low and has ended sharply in negative territory on extremely low volume. A range bound movement seems to be on the cards while an intra-day downside cannot be ruled out especially below the 12612 level but strong support below the 12514 level could lead to a late recovery.

Trading Range - The scrip opened at 692.00, moved up to an intra-day high of 727.45, declined to an intra-day low of 683.00 and closed at 727.45.

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 294.80, moved up to an intra-day high of 324.20, declined to an intra-day low of 291.15 and closed at 324.20.

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 126.40, moved up to an intra-day high of 130.75, declined to an intra-day low of 123.55 and closed at 130.75.

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 292.00, moved up to an intra-day high of 301.85, declined to an intra-day low of 292.00 and closed at 301.85.

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	974.30	979, 1022	Sd
DR. REDDY	700, 671	712.60	733, 757	Sd
HLL [Get Quote]	224, 216	229.15	240, 252	Dt
INFOSYS [Get Quote]	2000, 1900	2042.55	2100, 2200	Sd
ITC	180, 168	184.85	190, 210	Sd
RIL [Get Quote]	1171, 1136	1194.15	1195, 1250	Up
SATYAM [Get Quote]	415, 405	425.00	430, 443	Tu
SBI [Get Quote]	1000, 950	1024.45	1050, 1100	Sd
T MOTORS	841, 811	878.95	888, 944	Tu
TISCO [Get Quote]	500, 480	508.90	530, 550	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 even be having contrary positions in the stocks mentioned above.