Stock picks of the day

The market hasn't been able to sustain itself at higher levels and has ended the day clearly in negative territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Pharma, Oil, Consumer Durables and IT have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 9476.15 | Support - 9423, 9348 | Resistance - 9547, 9665

Trading Range - The Sensex opened at 9858.47, moved up to an intra-day high of 9859.38, declined to an intra-day low of 9428.03 and closed at 9476.15.

Review/Outlook - The Sensex has continued to reflect weakness while it hasn't be able to sustain itself at higher levels to end sharply in negative territory but confusingly enough on clearly lower volume. The outlook remains negative and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day downside could come in only below the 9428 level.              

Kinetic Engg. (Daily) 

Last Close - 127.15 | Support - 118, 090 | Resistance - 140, 165

Trading Range - The scrip opened at 124.00, moved up to an intra-day high of 130.55, declined to an intra-day low of 118.15 and closed at 127.15.

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. 

Rane Engg. (Daily)

Last Close - 329.90 | Support - 289, 250 | Resistance - 346, 384

Trading Range - The scrip opened at 300.00, moved up to an intra-day high of 329.90, declined to an intra-day low of 300.00 and closed at 329.90.

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.     

Grabal Alok. (Daily)

Last Close - 109.10 | Support - 102, 078 | Resistance - 113, 129

Trading Range - The scrip opened at 108.50, moved up to an intra-day high of 109.10, declined to an intra-day low of 103.00 and closed at 109.10.

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.     

Clariant Chemicals. (Daily)

Last Close - 261.00 | Support - 243, 221 | Resistance - 282, 318 

Trading Range - The scrip opened at 257.00, moved up to an intra-day high of 261.00, declined to an intra-day low of 252.00 and closed at 261.00.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	697, 668	716.15	724, 750	Sd
DR. REDDY	1150, 1089	1225.45	1225, 1282	Os
HLL	192, 183	196.70	203, 216	Dt
INFOSYS	2769, 2650	2774.65	2813, 2938	Dt
ITC	144, 136	154.35	155, 168	Dt
RIL	897, 858	902.80	925, 949	Dt
SATYAM	594, 580	609.65	616, 649	Dt
SBI	725, 695	745.35	784, 809	Dt
T MOTORS	722, 698	722.70	749, 771	Dt
TISCO	425, 411	426.70	437, 452	Os

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.