Stock picks of the day

The market hasn't been able to sustain itself itself at higher levels and has cooled off from its intra-day high to end in negative territory. Banks, Capital Goods, Metals, Pharma, Auto and the PSU sector have ended positive in varying degrees while Consumer Durables, FMCG, IT and the Oil sector have ended in negative territory. Volume registered a significant increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 9617.74 | Support - 9600, 9500 | Resistance - 9700, 9800

Trading Range - The Sensex opened at 9638.27, moved up to an intra-day high of 9679.72, declined to an intra-day low of 9571.31 and closed at 9617.74.

Review/Outlook - The Sensex has faced resistance at higher levels and has cooled off significantly from its intra-day high to end clearly in negative territory but this decline has been accompanied by lower volume. A rang bound movement cannot be ruled out and it remains to be seen whether this minute correction gets any deeper or not.        

Godfrey Phillips. (Daily)

Last Close - 1527.50 | Support - 1479, 1372 | Resistance - 1548, 1668

Trading Range - The scrip opened at 1491.95, moved up to an intra-day high of 1527.50, declined to an intra-day low of 1470.00 and closed at 1527.50.

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. 

Unitech Ltd. (Daily)

Last Close - 1240.60 | Support - 1123, 1011 | Resistance - 1259, 1328

Trading Range - The scrip opened at 1122.50, moved up to an intra-day high of 1240.60, declined to an intra-day low of 1122.50 and closed at 1240.60.

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. 

Milkfood. (Daily)

Last Close - 046.20 | Support - 044, 039 | Resistance - 049, 058

Trading Range - The scrip opened at 042.90, moved up to an intra-day high of 046.20, declined to an intra-day low of 040.05 and closed at 046.20.

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.

Brescon Corp. (Daily)

Last Close - 121.10 | Support - 112, 093 | Resistance - 125, 160 

Trading Range - The scrip opened at 120.70, moved up to an intra-day high of 121.35, declined to an intra-day low of 116.00 and closed at 121.10.

Review/Outlook - The scrip has reflected strength by moving 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	542, 516	555.55	569, 610	Tu
DR. REDDY	998, 934	1028.45	1049, 1089	Up
HLL	192, 183	194.90	203, 216	Tu
INFOSYS	2938, 2813	3055.10	3074, 3453	Tu
ITC	144, 136	145.40	155, 170	Tu
RIL	900, 850	921.65	950, 1000	Up
SATYAM	750, 700	751.95	800, 850	Up
SBI	926, 900	941.30	950, 1000	Tu
T MOTORS	635, 600	646.95	650, 670	Tu
TISCO	373, 361	380.45	390, 411	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.