Stock picks of the day

The market has opened with an upward gap, hasn't been able to sustain at higher levels and has ended the day in negative territory. Pharma, Oil, IT, FMCG, Capital Goods, Banks, Auto and PSU's have ended negative in varying degrees while Consumer Durables and the Metal sector has ended in positive territory. Volume registered a clear increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 11589 | Support - 11500, 11400 | Resistance -11600, 11700

Trading Range - The Sensex opened at 11845, moved up to an intra-day high of 11931, declined to an intra-day low of 11565 and closed at 11589.

Review/Outlook - The Sensex has once again created history to post a fresh all time high but has run into significant resistance at higher levels to end sharply in negative territory by giving a downward bar reversal on significantly higher volume. The outlook continues to remain positive, as the bigger picture remains quite solid while for the near term though, some amount of weakness especially below the 11565 level cannot be ruled out.

Unitech Ltd. (Daily)

Last Close - 3053.20 | Support - 2928, 2699 | Resistance - 3100, 3200

Trading Range - The scrip opened at 2949.00, moved up to an intra-day high of 3053.20, declined to an intra-day low of 2890.00 and closed at 3053.20.

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. 

Zenith Info. (Daily)

Last Close - 186.15 | Support - 175, 148 | Resistance - 200, 250

Trading Range - The scrip opened at 174.50, moved up to an intra-day high of 187.35, declined to an intra-day low of 174.50 and closed at 186.15.

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.

Emami Ltd. (Daily)

Last Close - 208.75 | Support - 195, 169 | Resistance - 250, 300

Trading Range - The scrip opened at 191.90, moved up to an intra-day high of 208.75, declined to an intra-day low of 191.90 and closed at 208.75.

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. 

WH Brady Co. (Daily)

Last Close - 078.20 | Support - 077, 068 | Resistance - 083, 094 

Trading Range - The scrip opened at 072.25, moved up to an intra-day high of 078.20, declined to an intra-day low of 072.25 and closed at 078.20.

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	850, 800	887.15	900, 950	Up
DR. REDDY	1400, 1342	1436.65	1466, 1500	Tu
HLL	281, 266	281.15	295, 305	Up
INFOSYS	3074, 2938	3166.00	3453, 3600	Up
ITC	190, 180	200.30	210, 225	Up
RIL	800, 775	832.50	850, 900	Up
SATYAM	810, 770	816.55	830, 886	Up
SBI	950, 926	978.55	1000, 1050	Up
T MOTORS	900, 850	927.35	950, 999	Tu
TISCO	500, 466	541.70	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.

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