Stock picks of the day

The market has remained a volatile, has moved just one way and has finally ended the day in positive territory. Banks, Capital Goods, IT, Oil, FMCG, Metals, Consumer Durables, Healthcare and PSU's have ended positive in varying degrees while the Auto sector has ended in negative territory. Volume registered a sharp decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 12928.18 | Support - 12900, 12800 | Resistance - 13000, 13100

Trading Range - The Sensex opened at 12785.03, moved up to an intra-day high of 12953.76, declined to an intra-day low of 12785.03 and closed at 12928.18.

Review/Outlook - The Sensex has reflected strength to appreciate with an upward gap on the daily chart and has not only posted a fresh all time high but has also given an all time high closing to end sharply in positive territory but surprisingly enough on sharply lower volume. The advance-decline line is negative indicating a rather selective upmove while an intra-day upside above the 12954 level cannot be ruled out and intra-day support comes in at the 12905 level.                    

GMR Ind. (Daily) 

Last Close - 248.50 | Support - 216, 192 | Resistance - 257, 310

Trading Range - The scrip opened at 246.40, moved up to an intra-day high of 248.50, declined to an intra-day low of 240.00 and closed at 248.50.

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. 

JMC Proj. (Daily)

Last Close - 147.50 | Support - 138, 113 | Resistance - 148, 160

Trading Range - The scrip opened at 141.80, moved up to an intra-day high of 147.50, declined to an intra-day low of 141.70 and closed at 147.50.

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.

Ansal Infra. (Daily)

Last Close - 639.55 | Support - 620, 568 | Resistance - 650, 675

Trading Range - The scrip opened at 620.00, moved up to an intra-day high of 639.55, declined to an intra-day low of 620.00 and closed at 639.55.

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.

Godrej Ind. (Daily)

Last Close - 127.50 | Support - 120, 088 | Resistance - 145, 175

Trading Range - The scrip opened at 119.00, moved up to an intra-day high of 127.50, declined to an intra-day low of 118.00 and closed at 127.50.

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	979, 924	1001.35	1022, 1061	Tu
DR. REDDY	700, 671	722.10	733, 757	Sd
HLL	224, 216	237.00	240, 252	Os
INFOSYS	2000, 1900	2097.25	2100, 2200	Up
ITC	190, 180	194.15	210, 225	Up
RIL	1195, 1171	1213.40	1250, 1300	Up
SATYAM	430, 415	436.20	443, 475	Tu
SBI	1000, 950	1026.55	1050, 1100	Sd
T MOTORS	888, 849	907.20	944, 990	Tu
TISCO	500, 480	511.35	530, 550	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.