Stock picks of the day

The market has been able to hold on to its early gains to end the day smartly in positive territory. Capital Goods, Banks, Consumer Durables, Auto, PSU, Metals, IT and Oil have ended positive in varying degrees while Pharma and FMCG have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 12513.86 | Support - 12500, 12400 | Resistance - 12600, 12700

Trading Range - The Sensex opened at 12488.38, moved up to an intra-day high of 12546.47, declined to an intra-day low of 12356.04 and closed at 12513.86.

Review/Outlook - The Sensex has once again created history to not only post a fresh all time high but has also given an all time high closing on distinctly higher volume.  The outlook continues to remain positive, as the bigger picture remains quite solid while the intra-day picture has also staged a smart comeback indicating the possibility of an intra-day upside especially above the 12547 level.       

Kirl. Ferrous. (Daily)

Last Close - 068.80 | Support - 067, 053 | Resistance - 078, 100

Trading Range - The scrip opened at 063.25, moved up to an intra-day high of 068.80, declined to an intra-day low of 060.10 and closed at 068.80.

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. 

Asian Elect. (Daily)

Last Close - 526.30 | Support - 498, 452 | Resistance - 550, 575

Trading Range - The scrip opened at 504.70, moved up to an intra-day high of 526.20, declined to an intra-day low of 500.00 and closed at 526.20.

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.

Pun. Alkalies. (Daily)

Last Close - 053.70 | Support - 050, 032 | Resistance - 059, 084

Trading Range - The scrip opened at 045.50, moved up to an intra-day high of 053.70, declined to an intra-day low of 045.50 and closed at 053.70.

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. 

Jayshree Tea (Daily)

Last Close - 179.85 | Support - 175, 144 | Resistance - 184, 220 

Trading Range - The scrip opened at 166.00, moved up to an intra-day high of 179.85, declined to an intra-day low of 162.20 and closed at 179.85.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	1000, 950	1001.00	1050, 1100	Tu
DR. REDDY	1600, 1500	1645.20	1700, 1800	Tu
HLL	266, 252	279.30	281, 295	Tu
INFOSYS	3155, 3074	3238.75	3250, 3543	Tu
ITC	190, 180	200.05	210, 225	Tu
RIL	1100, 1000	1154.95	1200, 1300	Up
SATYAM	770, 752	808.15	810, 830	Sd
SBI	950, 926	975.05	1000, 1050	Tu
T MOTORS	950, 900	977.65	999, 1050	Tu
TISCO	605, 550	654.55	700, 800	Up

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.