Stock picks of the day

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

Trading Range - The Sensex opened at 14610.57, moved up to an intra-day high of 14746.20, declined to an intra-day low of 14584.03 and closed at 14678.23.

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 14680 level while significant resistance at higher levels (14824) - would limit the upside and result in a late decline. The outlook has turned neutral again while resistance comes in at the 15900+ level and support comes in at the 12780 level.

Trading Range - The scrip opened at 182.00, moved up to an intra-day high of 192.90, declined to an intra-day low of 182.00 and closed at 190.70.

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 128.25, moved up to an intra-day high of 137.25, declined to an intra-day low of 128.25 and closed at 137.25.

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 289.50, moved up to an intra-day high of 297.55, declined to an intra-day low of 284.00 and closed at 297.55.

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 270.10, moved up to an intra-day high of 270.10, declined to an intra-day low of 262.10 and closed at 270.10.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	520, 484	566.35	573, 615	Dt
DR. REDDY	579, 530	600.90	610, 645	Td
HUL	240, 224	242.45	252, 266	Sd
INFOSYS [Get Quote]	1667, 1599	1698.70	1723, 1785	Sd
ITC	180, 169	183.55	193, 213	Sd
RIL [Get Quote]	2180, 2115	2244.15	2274, 2309	Sd
SATYAM [Get Quote]	385, 366	402.65	406, 443	Sd
SBI [Get Quote]	1418, 1381	1444.85	1472, 1539	Td
T MOTORS	422, 390	424.05	448, 472	Sd
T STEEL	586, 557	605.20	615, 642	Td

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.