Stock picks of the day

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

Trading Range - The Sensex opened at 14044.71, moved up to an intra-day high of 14067.07, declined to an intra-day low of 13861.38 and closed at 13879.25.

Review/Outlook - The Sensex has reflected some amount of weakness by receiving a lot of selling pressure, hasn't been able to sustain itself at higher levels, has come off rather sharply from its intra-day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day downside could come in below the 13861 level while some resistance can be expected at higher levels (14040 - which could limit the upside) while a range bound scenario cannot be ruled out. The outlook seems to have turned shaky again while resistance comes in at the 14400+ level and support comes in at the 13700 level.

Trading Range - The scrip opened at 109.70, moved up to an intra-day high of 116.05, declined to an intra-day low of 108.00 and closed at 116.05.

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 374.50, moved up to an intra-day high of 390.00, declined to an intra-day low of 367.00 and closed at 386.55.

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 153.80, moved up to an intra-day high of 169.85, declined to an intra-day low of 153.80 and closed at 169.85.

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 088.55, moved up to an intra-day high of 091.85, declined to an intra-day low of 088.55 and closed at 091.85.

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	856, 829	862.40	892, 924	Up
DR. REDDY	689, 669	703.55	712, 733	Sd
HLL	192, 183	195.45	203, 216	Td
INFOSYS	1962, 1883	2038.80	2061, 2133	Sd
ITC	155, 144	160.75	168, 180	Tu
RIL	1547, 1496	1605.45	1625, 1700	Up
SATYAM	443, 425	460.35	475, 500	Tu
SBI	1100, 1050	1119.15	1135, 1166	Up
T MOTORS	722, 698	727.95	749, 771	Sd
TISCO	543, 518	551.90	570, 593	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.