Stock picks of the day

The market staged a smart comeback to from lower levels amidst extreme volatility and has ended the day clearly in positive territory. Banks, Metals, Oil & Gas, Capital Goods, FMCG, and PSU's have ended positive in varying degrees while Consumer Durables, Pharma and the Auto sector have ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 10574 | Support - 10556, 10424 | Resistance - 10662, 10740

Trading Range - The Sensex opened at 10534, moved up to an intra-day high of 10593, declined to an intra-day low of 10377 and closed at 10574.

Review/Outlook - The Sensex has remained extremely volatile with alternate bouts of buying and selling coming in and has finally given an upward key reversal on higher volume indicating the possibility of an intra-day upside especially above the 10593 level while it remains to be seen whether this anticipated early positives are sustained till the closing or not.                        

Binani Ind. (Daily)

Last Close - 096.85 | Support - 095, 077 | Resistance - 125, 162

Trading Range - The scrip opened at 094.00, moved up to an intra-day high of 096.85, declined to an intra-day low of 091.10 and closed at 096.85.

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. 

Walchand Ind. (Daily)

Last Close - 635.60 | Support - 608, 559 | Resistance - 661, 693

Trading Range - The scrip opened at 615.00, moved up to an intra-day high of 635.60, declined to an intra-day low of 615.00 and closed at 635.60.

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.

Yashraj Sec. (Daily)

Last Close - 118.40 | Support - 118, 108 | Resistance - 143, 171

Trading Range - The scrip opened at 107.30, moved up to an intra-day high of 118.40, declined to an intra-day low of 107.30 and closed at 118.40.

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. 

Eldeco Hous. (Daily)

Last Close - 275.00 | Support - 252, 215 | Resistance - 305, 350 

Trading Range - The scrip opened at 273.90, moved up to an intra-day high of 275.00, declined to an intra-day low of 270.00 and closed at 275.00.

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	724, 697	749.40	750, 800	Up
DR. REDDY	1282, 1225	1332.00	1342, 1400	Sd
HLL	240, 224	244.50	252, 266	Up
INFOSYS	2813, 2769	2842.50	2938, 3075	Sd
ITC	170, 155	173.20	190, 210	Up
RIL	725, 700	726.70	750, 775	Tu
SATYAM	770, 752	785.85	810, 900	Sd
SBI	900, 871	905.90	926, 950	Tu
T MOTORS	850, 800	874.75	900, 950	Up
TISCO	437, 425	451.90	452, 466	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.