Stock picks of the day

The market has opened with an upward gap, has managed to sustain at higher levels and has ended the day in positive territory. Pharma, FMCG, Capital Goods, Banks, Consumer Durables, Auto, Metals and PSU's have ended positive in varying degrees while Oil and the IT sector has ended in negative territory. Volume registered a clear increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 11747 | Support - 11700, 11600 | Resistance - 11800, 11900

Trading Range - The Sensex opened at 11671, moved up to an intra-day high of 11755, declined to an intra-day low of 11653 and closed at 11747.

Review/Outlook - The Sensex has once again created history to not only post a fresh all time high but has also given an all time high closing and on distinctly higher volume.  The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture seems to have improved once again and an intra-day upside cannot be ruled out - action could come in above the 11755 level.                                           

Goodrick Grp. (Daily)

Last Close - 110.15 | Support - 097, 070 | Resistance - 114, 129

Trading Range - The scrip opened at 105.60, moved up to an intra-day high of 110.15, declined to an intra-day low of 104.55 and closed at 110.15.

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

Asian Elect. (Daily)

Last Close - 525.00 | Support - 498, 452 | Resistance - 550, 575

Trading Range - The scrip opened at 506.00, moved up to an intra-day high of 525.00, declined to an intra-day low of 499.00 and closed at 525.00.

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.

Ansal Infra. (Daily)

Last Close - 834.95 | Support - 800, 750 | Resistance - 850, 900

Trading Range - The scrip opened at 814.40, moved up to an intra-day high of 834.95, declined to an intra-day low of 801.00 and closed at 834.95.

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. 

Rel. Ind. Infra. (Daily)

Last Close - 424.80 | Support - 415, 370 | Resistance - 484, 525 

Trading Range - The scrip opened at 407.45, moved up to an intra-day high of 424.80, declined to an intra-day low of 405.10 and closed at 424.80.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close 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	800, 750	838.15	850, 900	Up
DR. REDDY	1400, 1342	1461.95	1466, 1500	Tu
HLL	281, 266	288.80	295, 305	Up
INFOSYS	3074, 2938	3114.40	3453, 3600	Up
ITC	190, 180	205.55	210, 225	Up
RIL	800, 775	839.55	850, 900	Up
SATYAM	830, 810	857.75	886, 950	Up
SBI	1000, 950	1006.60	1050, 1100	Up
T MOTORS	950, 900	963.40	999, 1050	Tu
TISCO	500, 466	541.80	550, 605	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.