Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Banks, Metals, IT, PSU, Oil, Capital Goods & Healthcare have ended positive in varying degrees while FMCG & Auto have ended in negative territory. Volume registered a distinct increase (read as turnover) while the undertone seemed indifferent.

Trading Range - The Sensex opened at 12691.24, moved up to an intra-day high of 12835.36, declined to an intra-day low of 12691.24, and closed at 12786.77.

Review/Outlook - The Sensex has reflected some amount of strength by posting a 3 trading session high, has come off smartly from its intra-day low but has run into resistance from a gap on the daily chart on clearly higher volume. Volatility can be the order of the day; an intra-day upside above the 12836 level doesn't seem very sustainable due to significant resistance at higher levels, it remains to be seen whether the anticipated upside is sustainable till the end of the trading session or not.

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 185.20, declined to an intra-day low of 178.00 and closed at 185.20.

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 205.25, moved up to an intra-day high of 213.55, declined to an intra-day low of 205.00 and closed at 213.55.

Review/Outlook - The scrip has reflected 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 221.00, moved up to an intra-day high of 225.85, declined to an intra-day low of 221.00 and closed at 225.85.

Review/Outlook - The scrip has reflected 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 265.00, moved up to an intra-day high of 274.90, declined to an intra-day low of 259.00 and closed at 274.90.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	697, 668	714.45	724, 750	Dt
DR. REDDY	733, 712	745.65	757, 795	Tu
HLL	192, 183	197.75	201, 216	Sd
INFOSYS	1962, 1883	1992.80	2061, 2133	Dt
ITC	144, 136	148.70	155, 168	Td
RIL	1342, 1316	1363.15	1373, 1409	Dt
SATYAM	443, 425	453.05	475, 500	Sd
SBI	926, 900	935.60	950, 973	Td
T MOTORS	670, 635	681.85	698, 722	Dt
TISCO	437, 425	438.20	452, 466	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.