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

Trading Range -The Sensex opened at 14073.61, moved up to an intra-day high of 14364.95, declined to an intra-day low of 14046.06 and closed at 14338.45.

Review/Outlook - The Sensex has reflected significant amount of strength, has had a rather weak opening, has moved up, has received 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 like a distinct possibility) could come in above the 14365 level while some resistance at higher levels (14480) - which could limit the upside. The outlook seems to have turned slightly better again while resistance comes in at the 14500+ level and support comes in at the 13800 level.

Trading Range - The scrip opened at 837.75, moved up to an intra-day high of 898.35, declined to an intra-day low of 825.00 and closed at 896.15.

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 576.10, moved up to an intra-day high of 610.40, declined to an intra-day low of 576.10 and closed at 610.40.

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 327.00, moved up to an intra-day high of 343.45, declined to an intra-day low of 327.00 and closed at 343.45.

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 269.95, moved up to an intra-day high of 299.80, declined to an intra-day low of 265.00 and closed at 299.80.

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	858.05	892, 924	Up
DR. REDDY	645, 610	651.30	669, 689	Os
HLL	203, 192	203.10	216, 224	Up
INFOSYS	1962, 1883	1986.35	2061, 2133	Tu
ITC	155, 144	166.70	168, 180	Tu
RIL	1705, 1645	1726.75	1750, 1780	Up
SATYAM	443, 425	471.85	475, 500	Tu
SBI	1281, 1225	1298.40	1304, 1332	Up
T MOTORS	722, 698	726.80	749, 771	Tu
TISCO	617, 593	624.35	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.