Stock picks of the day

The market has had a relatively quite day and has remained range bound to barely end in positive territory. pharma, consumer durables, capital goods, IT and PSU's ended positive in varying degrees while Banks and FMCG have all ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 8308.93 | Support - 8260, 8144 | Resistance - 8376, 8446

Trading Range - The Sensex opened at 8314.39, moved up to an intra-day high of 8342.53, declined to an intra-day low of 8265.26 and closed at 8308.93.

Review/Outlook - The Sensex has reflected indecision by staying almost within the previous day's trading range after facing some selling pressure at higher levels to end nearly flat but once again this has happened on even lower volume. A range bound movement cannot be ruled out while a minor intra-day downside could come in only below the 8265 level.

Tran. Cor. Ind. (Daily)

Last Close - 204.90 | Support - 196, 178 | Resistance - 210, 229

Trading Range - The scrip opened at 193.00, moved up to an intra-day high of 204.90, declined to an intra-day low of 193.00 and closed at 204.90.

Review/Outlook - The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards.

Ema India Ltd. (Daily)

Last Close - 126.40 | Support - 114, 101 | Resistance - 127, 143

Trading Range - The scrip opened at 126.00, moved up to an intra-day high of 126.40, declined to an intra-day low of 124.00 and closed at 126.40.

Review/Outlook - The scrip has reflected strength by appreciating from open to close and with the indicators looking positive, a further upside seems to be on the cards.

HPCL (Daily)

Last Close - 319.20 | Support - 315, 302 | Resistance - 335, 355

Trading Range - The scrip opened at 309.00, moved up to an intra-day high of 320.95, declined to an intra-day low of 308.00 and closed at 319.20.

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.

Maruti Udyog (Daily)

Last Close - 577.75 | Support - 569, 555 | Resistance - 580, 600

Trading Range - The scrip opened at 574.90, moved up to an intra-day high of 580.00, declined to an intra-day low of 569.10 and closed at 577.75.

Review/Outlook - The scrip has reflected strength to post a smart intra-day recovery to end in positive territory 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	477, 450	484.95	500, 550	Up
DR. REDDY	879, 850	929.85	934, 998	Tu
HLL	172, 163	172.55	183, 192	Tu
INFOSYS	2537, 2460	2419.25	2650, 2769	Up
ITC	126, 117	128.70	136, 144	Tu
RIL	780, 740	791.55	810, 900	Tu
SATYAM	616, 580	636.90	645, 700	Up
SBI	800, 750	846.60	850, 900	Sd
T MOTORS	494, 472	496.15	518, 543	Tu
TISCO	361, 349	363.45	373, 390	Tu

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.