Stock picks of the day

The market has staged a good recovery to basically come off its intra-day low and has finally ended the day in positive territory. Auto, PSU, Oil, Metals, Capital Goods, Consumer Durables, Banks, FMCG, IT & Pharma have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a wafer-thin increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 11778.02 | Support - 11707, 11618 | Resistance - 11826, 11931

Trading Range - The Sensex opened at 11699.57, moved up to an intra-day high of 11795.02, declined to an intra-day low of 11666.01 and closed at 11778.02.

Review/Outlook - The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day low to end in positive territory on marginally higher volume and has managed to close above the 11000 level for the eighteenth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem to be pointing towards a slight upward bias today especially above the 11795 level - the sanctity of the 11330 level needs to be maintained at all times.                          

Aegis Logistics. (Daily)

Last Close - 175.55 | Support - 155, 133 | Resistance - 183, 230

Trading Range - The scrip opened at 171.80, moved up to an intra-day high of 181.20, declined to an intra-day low of 171.55 and closed at 175.55.

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. 

GTC Ind. (Daily)

Last Close - 154.75 | Support - 150, 129 | Resistance - 164, 195

Trading Range - The scrip opened at 145.90, moved up to an intra-day high of 154.75, declined to an intra-day low of 145.50 and closed at 154.75.

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.        

Bombay Burmah. (Daily)

Last Close - 340.40 | Support - 315, 265 | Resistance - 386, 437

Trading Range - The scrip opened at 331.00, moved up to an intra-day high of 340.40, declined to an intra-day low of 330.10 and closed at 340.40.

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.         

Harrisons Malayalam. (Daily)

Last Close - 093.45 | Support - 072, 061 | Resistance - 108, 133 

Trading Range - The scrip opened at 089.00, moved up to an intra-day high of 093.45, declined to an intra-day low of 088.80 and closed at 093.45.

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	892, 856	914.45	924, 979	Sd
DR. REDDY	733, 700	743.30	757, 795	Tu
HLL	224, 216	238.80	240, 252	Tu
INFOSYS	1800, 1721	1811.00	1900, 2000	Up
ITC	180, 168	189.60	190, 210	Up
RIL	1109, 1083	1122.15	1136, 1171	Tu
SATYAM	770, 752	799.85	810, 830	Tu
SBI	926, 900	931.25	950, 1000	Up
T MOTORS	849, 811	863.40	888, 944	Up
TISCO	500, 480	501.75	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.