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 sharply in positive territory. Metal, Realty, Consumer Durables, Oil, FMCG, IT, Auto, PSU, Capital Goods, Banks & Healthcare 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 upbeat.

Trading Range - The Sensex opened at 15612.61, moved up to an intra-day high of 16262.38, declined to an intra-day low of 15612.61 and closed at 16217.49.

Review/Outlook - The Sensex has had a positive trading session, has had a positive opening, has moved just one way, has received 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 16231 level while significant resistance at higher levels (16390) - would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 14700 level.

Trading Range - The scrip opened at 110.90, moved up to an intra-day high of 116.00, declined to an intra-day low of 108.40 and closed at 114.05.

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 343.00, moved up to an intra-day high of 425.80, declined to an intra-day low of 343.00 and closed at 417.25.

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 191.20, moved up to an intra-day high of 191.50, declined to an intra-day low of 177.30 and closed at 189.25.

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 240.00, moved up to an intra-day high of 268.50, declined to an intra-day low of 231.10 and closed at 246.90.

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	778, 750	815.60	829, 856	Sd
DR. REDDY	530, 487	576.25	579, 610	Tu
HUL	240, 224	244.95	252, 266	Up
INFOSYS [Get Quote]	1457, 1425	1492.55	1510, 1667	Sd
ITC	180, 169	191.10	193, 213	Sd
RIL [Get Quote]	2309, 2274	2314.40	2426, 2539	Sd
SATYAM [Get Quote]	406, 385	411.05	425, 443	Tu
SBI [Get Quote]	1624, 1539	1740.20	1760, 1802	Sd
T MOTORS	670, 635	679.95	698, 722	Sd
T STEEL	614, 586	633.80	652, 670	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.