Stock picks of the day

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

Sensex (Daily) 

Last Close - 8929.44 | Support - 8822, 8772 | Resistance - 8960, 9034

Trading Range - The Sensex opened at 9156.97, moved up to an intra-day high of 9387.06, declined to an intra-day low of 8799.01 and closed at 8929.44.

Review/Outlook - The Sensex has continued to reflect weakness while it hasn't be able to sustain itself at higher levels to end once again in negative territory but on clearly higher volume. The outlook remains negative and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day downside could come in only below the 8799 level.                 

Hind Sanitary. (Daily)

Last Close - 089.75 | Support - 069, 048 | Resistance - 098, 117

Trading Range - The scrip opened at 094.50, moved up to an intra-day high of 102.50, declined to an intra-day low of 089.35 and closed at 089.75.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

Binani Ind. (Daily)

Last Close - 122.20 | Support - 095, 077 | Resistance - 125, 162

Trading Range - The scrip opened at 122.20, moved up to an intra-day high of 126.00, declined to an intra-day low of 122.20 and closed at 122.20.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Kalyani Stl. (Daily)

Last Close - 197.10 | Support - 166, 127 | Resistance - 202, 264

Trading Range - The scrip opened at 215.15, moved up to an intra-day high of 233.25, declined to an intra-day low of 195.80 and closed at 197.10.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.      

Kirl. Oil. Eng. (Daily) 

Last Close - 156.80 | Support - 121, 093 | Resistance - 158, 179 

Trading Range - The scrip opened at 173.00, moved up to an intra-day high of 184.90, declined to an intra-day low of 154.00 and closed at 156.80.

Review/Outlook -  The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	668, 639	696.30	697, 724	Sd
DR. REDDY	1150, 1089	1164.45	1225, 1282	Os
HLL	183, 172	186.15	192, 203	Dt
INFOSYS	2460, 2363	2483.50	2537, 2650	Dt
ITC	144, 136	147.65	155, 168	Dt
RIL	858, 820	859.35	897, 925	Dt
SATYAM	560, 531	574.00	580, 594	Dt
SBI	725, 695	741.05	784, 809	Dt
T MOTORS	635, 600	659.90	670, 698	Dt
TISCO	381, 373	384.95	390, 411	Dt

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.