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, IT, Auto, Oil & PSU's have ended positive in varying degrees while Capital Goods, Healthcare, Consumer Durables, FMCG & Metals have ended in negative territory. Volume registered a clear increase (read as turnover) while the undertone seemed bullish.

Trading Range - The Sensex opened at 13691.86, moved up to an intra-day high of 13864.18, declined to an intra-day low of 13554.34 and closed at 13796.16.

Review/Outlook - The Sensex has reflected significant amount of strength and despite a gap down opening, has received significant buying support to cover up all its losses to come off sharply from its intra-day low and has finally ended in positive territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 13864 level while some resistance comes in at higher levels (14040 � which could limit the upside) while a positive bias cannot be ruled out. The outlook seems to be turning better again while resistance comes in at the 14400+ level and support comes in at the 13600 level.

Trading Range - The scrip opened at 294.30, moved up to an intra-day high of 312.10, declined to an intra-day low of 290.00 and closed at 312.10.

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 167.00, moved up to an intra-day high of 177.25, declined to an intra-day low of 161.20 and closed at 177.25.

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 240.05, moved up to an intra-day high of 254.30, declined to an intra-day low of 239.00 and closed at 254.10.

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 110.00, moved up to an intra-day high of 116.10, declined to an intra-day low of 110.00 and closed at 116.10.

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.

Scrip	Support	Last Close	Resistance	Trend
ACC	829, 793	850.35	856, 892	Up
DR. REDDY	669, 645	683.45	689, 712	Td
HLL	183, 172	185.45	192, 203	Td
INFOSYS	1962, 1883	2000.15	2061, 2133	Sd
ITC	155, 144	162.05	168, 180	Tu
RIL	1547, 1496	1590.25	1625, 1700	Up
SATYAM	443, 425	454.35	475, 500	Sd
SBI	1135, 1100	1149.20	1166, 1190	Tu
T MOTORS	698, 670	715.45	722, 749	Sd
TISCO	543, 518	569.05	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.