Stock picks of the day

The market has run into selling pressure to basically come off its intra-day high and has finally ended the day in negative territory. Metals, Capital Goods & PSU's have ended positive in varying degrees while Banks, Consumer Durables, FMCG, Healthcare, IT, Auto & Oil have ended in negative territory. Volume registered a wafer-thin decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 11904.60 | Support - 11826, 11707 | Resistance - 11931, 12054

Trading Range - The Sensex opened at 11927.42, moved up to an intra-day high of 11945.53, declined to an intra-day low of 11847.93 and closed at 11904.60.

Review/Outlook - The Sensex has faced alternate bouts of both, buying and selling, has come off its intra-day high to just about end in negative territory on marginally lower volume and has managed to close above the 11000 level for the twentieth 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 rather lacklustre movement today - the sanctity of the 11620 level needs to be maintained at all times.                            

Unitech Ltd. (Daily)

Last Close - 216.30 | Support - 210, 187 | Resistance - 236, 304

Trading Range - The scrip opened at 200.00, moved up to an intra-day high of 216.30, declined to an intra-day low of 195.00 and closed at 216.30.

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. 

Jindal Polyfilms. (Daily)

Last Close - 148.95 | Support - 147, 115 | Resistance - 152, 173

Trading Range - The scrip opened at 138.80, moved up to an intra-day high of 148.95, declined to an intra-day low of 138.80 and closed at 148.95.

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.        

Rain Commodities. (Daily) 

Last Close - 144.55 | Support - 142, 128 | Resistance - 153, 181

Trading Range - The scrip opened at 137.20, moved up to an intra-day high of 144.55, declined to an intra-day low of 137.20 and closed at 144.55.

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.        

KLG Systel. (Daily) 

Last Close - 186.05 | Support - 173, 140 | Resistance - 249, 334 

Trading Range - The scrip opened at 176.05, moved up to an intra-day high of 186.05, declined to an intra-day low of 174.00 and closed at 186.05.

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	924, 892	943.50	979, 1022	Tu
DR. REDDY	700, 671	729.55	733, 757	Tu
HLL	240, 224	242.45	252, 266	Tu
INFOSYS	1800, 1721	1834.10	1900, 2000	Up
ITC	180, 168	187.65	190, 210	Up
RIL	1109, 1083	1125.30	1136, 1171	Tu
SATYAM	810, 770	815.35	830, 860	Tu
SBI	926, 900	943.00	950, 1000	Up
T MOTORS	849, 811	886.40	888, 944	Up
TISCO	500, 480	513.50	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.