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

Trading Range - The Sensex opened at 17050.87, moved up to an intra-day high of 17424.94, declined to an intra-day low of 17011.60 and closed at 17378.46.

Review/Outlook - The Sensex has had a solid trading session, has had a positive opening, has moved just one way, has faced buying support even at higher levels, has come off 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 possibility) could come in above the 17392 level while significant resistance at higher levels (17480) - would limit the upside. The outlook has turned positive again while resistance comes in at the 18300+ level and support comes in at the 16600 level.

Trading Range - The scrip opened at 227.00, moved up to an intra-day high of 231.90, declined to an intra-day low of 227.00 and closed at 231.90.

Review/Outlook - The scrip has reflected strength by appreciating 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 240.00, moved up to an intra-day high of 240.00, declined to an intra-day low of 225.00 and closed at 230.00.

Review/Outlook - The scrip has reflected strength by appreciating 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 138.00, moved up to an intra-day high of 140.00, declined to an intra-day low of 132.20 and closed at 138.10.

Review/Outlook - The scrip has reflected strength by appreciating 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 168.95, moved up to an intra-day high of 174.10, declined to an intra-day low of 164.35 and closed at 173.90.

Review/Outlook - The scrip has reflected strength by appreciating 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	750, 724	775.35	778, 829	Td
DR. REDDY	610, 579	627.05	645, 689	Tu
HUL	240, 224	250.85	252, 272	Up
INFOSYS [Get Quote]	1723, 1667	1750.75	1785, 1834	Tu
ITC	193, 180	212.15	213, 227	Up
RIL [Get Quote]	2615, 2539	2653.00	2684, 2724	Up
SATYAM [Get Quote]	475, 443	479.35	493, 522	Tu
SBI [Get Quote]	1760, 1624	1793.50	1802, 1838	Tu
T MOTORS	635, 600	639.95	670, 698	Tu
T STEEL	762, 731	808.90	820, 858	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 not only be having positions but could even be having contrary positions in the stocks mentioned above.