Stock picks of the day

The market hasn't been able to sustain itself at higher levels after recording early gains and has ended the day in negative territory. Capital Goods, Auto, Banks, Oil, Consumer Durables, PSU and the IT sector have ended negative in varying degrees while FMCG, Pharma and Metals have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 9859.26 | Support - 9820, 9665 | Resistance - 9987, 10100

Trading Range - The Sensex opened at 9959.24, moved up to an intra-day high of 9993.92, declined to an intra-day low of 9819.32 and closed at 9859.26.

Review/Outlook - The Sensex has remained relatively range bound but selling pressure continues to come in at the 9940+ levels indicating a lack of sustainability at higher levels. The Sensex has once again cooled off from an intra-day point of view to end in negative territory on lower volume and while intra-day weakness below the 9816 level cannot be ruled out, a late recovery seems to be on the cards.

Gupta Syn. (Daily)

Last Close - 174.60 | Support - 160, 137 | Resistance - 175, 207

Trading Range - The scrip opened at 169.80, moved up to an intra-day high of 174.60, declined to an intra-day low of 169.80 and closed at 174.60.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

Fortis Fin. (Daily)

Last Close - 041.95 | Support - 037, 030 | Resistance - 048, 063

Trading Range - The scrip opened at 039.00, moved up to an intra-day high of 041.95, declined to an intra-day low of 038.20 and closed at 041.95.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.

Arih. Found. (Daily)

Last Close - 272.90 | Support - 250, 211 | Resistance - 290, 374

Trading Range - The scrip opened at 254.00, moved up to an intra-day high of 272.90, declined to an intra-day low of 254.00 and closed at 272.90.

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. 

Mastek (Daily)

Last Close - 659.60 | Support - 656, 598 | Resistance - 673, 730 

Trading Range - The scrip opened at 650.05, moved up to an intra-day high of 670.00, declined to an intra-day low of 650.05 and closed at 659.60.

Review/Outlook - The scrip has reflected strength by closing above a supply line 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	569, 542	591.85	610, 639	Up
DR. REDDY	1150, 1089	1173.95	1225, 1282	Up
HLL	192, 183	193.50	203, 216	Tu
INFOSYS	2813, 2769	2835.90	2938, 3075	Sd
ITC	155, 144	155.75	170, 190	Up
RIL	700, 675	707.75	725, 750	Sd
SATYAM	705, 678	727.80	730, 750	Td
SBI	850, 830	864.95	871, 900	Dt
T MOTORS	700, 670	704.80	750, 800	Up
TISCO	390, 373	400.20	411, 425	Tu

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.