Stock picks of the day

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

Trading Range - The Sensex opened at 14514.20, moved up to an intra-day high of 14571.31, declined to an intra-day low of 14462.67 and closed at 14535.01.

Review/Outlook - The Sensex has reflected some amount of strength, has had a rather positive opening, but has still recovered after receiving significant buying support to come off from its intra- day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems to be a possibility) could come in above the 14571 level while some resistance at higher levels (14682) - could limit the upside. The outlook seems to have turned better again while resistance comes in at the 14700+ level and support comes in at the 14040 level.

Trading Range - The scrip opened at 637.50, moved up to an intra-day high of 666.00, declined to an intra-day low of 625.25 and closed at 647.70.

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 352.00, moved up to an intra-day high of 367.85, declined to an intra-day low of 335.30 and closed at 367.85.

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 127.15, moved up to an intra-day high of 135.25, declined to an intra-day low of 125.35 and closed at 134.75.

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 196.25, moved up to an intra-day high of 205.00, declined to an intra-day low of 191.50 and closed at 205.00.

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	829, 793	836.45	856, 892	Sd
DR. REDDY	645, 610	655.15	669, 689	Sd
HLL [Get Quote]	192, 183	195.55	203, 216	Sd
INFOSYS [Get Quote]	1883, 1812	1941.80	1962, 2061	Sd
ITC	155, 144	161.80	168, 180	Sd
RIL [Get Quote]	1737, 1705	1745.05	1785, 1820	Up
SATYAM [Get Quote]	443, 425	463.35	475, 500	Tu
SBI [Get Quote]	1425, 1362	1436.25	1450, 1475	Up
T MOTORS	698, 670	710.95	722, 749	Sd
TISCO [Get Quote]	617, 593	641.15	646, 670	Up

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.