Stock picks of the day

The market has remained in a positive frame of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Capital Goods, Healthcare, FMCG, IT, Metal, PSU, Consumer Durables, Auto & Oil have ended positive in varying degrees while the no sector has ended in negative territory. Volume registered a distinct increase (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 13308.03 | Support - 13296, 13135 | Resistance - 13390, 13461

Trading Range - The Sensex opened at 13071.81, moved up to an intra-day high of 13326.24, declined to an intra-day low of 13071.81, and closed at 13308.03.

Review/Outlook - The Sensex has reflected a significant amount of strength by appreciating with an upward gap to move up virtually from open to close, has come off from its intra-day low and has finally ended the day in positive territory on clearly higher volume. Volatility can be the order of the day; intra-day upside cannot be ruled out especially above the 13327 level but sustainability above the 13390 level seems like a debatable issue indicating the possibility of a late decline in case of early gains.

G G Dandekar

Last Close - 087.90 | Support - 085, 070 | Resistance - 090, 106

Trading Range - The scrip opened at 081.85, moved up to an intra-day high of 090.00, declined to an intra-day low of 080.00 and closed at 087.90.

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.

Goodyear Ind

Last Close - 157.55 | Support - 149, 129 | Resistance - 168, 198

Trading Range - The scrip opened at 146.00, moved up to an intra-day high of 158.55, declined to an intra-day low of 145.35 and closed at 157.55.

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.

Nelco Limited

Last Close - 089.10 | Support - 086, 077 | Resistance - 100, 121

Trading Range - The scrip opened at 088.00, moved up to an intra-day high of 089.10, declined to an intra-day low of 088.00 and closed at 089.10.

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.

Garware Off

Last Close - 182.45 | Support - 170, 139 | Resistance - 188, 230

Trading Range - The scrip opened at 180.00, moved up to an intra-day high of 182.45, declined to an intra-day low of 180.00 and closed at 182.45.

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	750, 724	753.10	793, 829	Tu
DR. REDDY	669, 645	681.50	689, 712	Sd
HLL	192, 183	196.55	203, 216	Tu
INFOSYS	2061, 1962	2117.60	2133, 2208	Sd
ITC	144, 136	149.30	155, 168	Sd
RIL	1373, 1342	1374.25	1409, 1450	Sd
SATYAM	443, 425	466.65	475, 500	Tu
SBI	1000, 973	1028.50	1050, 1100	Sd
T MOTORS	771, 749	805.50	811, 849	Sd
TISCO	437, 425	442.00	452, 466	Sd

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.