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. Banks, IT, Auto, FMCG, PSU, Capital Goods, Consumer Durables, Metal, Healthcare & Oil have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky.

Trading Range - The Sensex opened at 15061.13, moved up to an intra-day high of 15235.51, declined to an intra-day low of 15061.13 and closed at 15138.40.

Review/Outlook - The Sensex has had a positive trading session, has had a good opening, has appreciated after receiving buying support at lower levels, has come off from its intra - day low and has finally ended in positive territory on clearly lower volume. Volatility can be the order of the day; an intra-day downside (is a formality) could come in below the 15101 level while some support at lower levels (14800) - could limit the downside. The outlook seems to have turned negative again while resistance comes in at the 16000+ level and support comes in at the 14683 level.

Trading Range - The scrip opened at 337.80, moved up to an intra-day high of 339.90, declined to an intra-day low of 330.00 and closed at 335.85.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 144.90, moved up to an intra-day high of 148.00, declined to an intra-day low of 144.00 and closed at 144.85.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 759.90, moved up to an intra-day high of 772.00, declined to an intra-day low of 748.05 and closed at 753.35.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Trading Range - The scrip opened at 242.60, moved up to an intra-day high of 245.15, declined to an intra-day low of 233.50 and closed at 236.00.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	994, 965	1003.30	1057, 1099	Td
DR. REDDY	610, 579	622.90	645, 669	Dt
HUL	203, 192	204.65	216, 224	Tu
INFOSYS [Get Quote]	1883, 1812	1919.35	1962, 2009	Td
ITC	168, 155	169.35	180, 190	Up
RIL [Get Quote]	1785, 1737	1801.25	1834, 1878	Sd
SATYAM [Get Quote]	471, 443	471.85	496, 538	Sd
SBI [Get Quote]	1591, 1531	1636.00	1636, 1675	Sd
T MOTORS	635, 610	656.25	670, 698	Td
TISCO [Get Quote]	646, 617	651.70	670, 695	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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.