Stock picks for today

The market has faced selling pressure at higher levels despite a good opening but has still ended in negative territory. Banks, IT and metals have all ended negative in varying degrees while consumer durables, FMCG, auto, capital goods, pharma, oil and the PSU sector have ended in positive territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)     
                                                                            
Last Close -- 9374.19;  Support -- 9348, 9274; Resistance – 9423, 9547

Trading Range: The  Sensex opened at 9425.07, moved up to an intra-day high of 9471.89, declined to an intra-day low of 9362.25 and closed at 9374.19.

Review/Outlook: The Sensex hasn't been able to sustain itself at higher levels and has come off sharply from its intra-day high to end in negative territory by giving a downward key reversal on the daily chart. The near term outlook has acquired a negative bias and an intra-day decline especially below the 9362 level cannot be ruled out.   

TTK Prestige (Daily)                                                          

Last Close --131.55; Support -- 121, 095;  Resistance --135, 150

Trading Range: The scrip opened at 127.00, moved up to an intra-day high of 131.55, declined to an intra-day low of 127.00 and closed at 131.55.

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. 

Rel. Ind. Inf. (Daily)               

Last Close -- 352.30; Support -- 313, 270; Resistance -- 386, 429

Trading Range: The scrip opened at 331.90, moved up to an intra-day high of 352.30, declined to an intra-day low of 325.00 and closed at 352.30.

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. 

Indo-National (Daily)

Last Close -- 452.00; Support -- 445, 389; Resistance -- 499, 612

Trading Range: The scrip opened at 420.05, moved up to an intra-day high of 452.00, declined to an intra-day low of 420.00 and closed at 452.00.

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.

Elpro Inernational (Daily)                                                       

Last Close --169.80; Support -- 158, 128; Resistance -- 193, 233 

Trading Range: The scrip opened at 165.00, moved up to an intra-day high of 169.80, declined to an intra-day low of 165.00 and closed at 169.80.

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	516, 500	536.30	542, 569	Td
DR. REDDY	998, 934	1033.25	1049, 1089	Up
HLL	183, 172	186.60	192, 203	Td
INFOSYS	2813, 2769	2845.70	2938, 3074	Td
ITC	144, 136	15.45	155, 170	Tu
RIL	850, 800	885.10	900, 950	Sd
SATYAM	730, 705	738.55	750, 800	Up
SBI	900, 871	923.80	926, 950	Tu
T MOTORS	635, 600	643.45	650, 670	Sd
TISCO	361, 349	366.70	373, 390	Td

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.