Stock picks of the day

The market has remained a volatile, has moved both ways and has finally ended the day in negative territory. Auto, Banks, Capital Goods, Oil, FMCG, Healthcare and PSU's have ended negative in varying degrees while the Consumer Durables, IT and Metals have ended in positive territory. Volume registered a sharp increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 12883.83 | Support - 12800, 12711 | Resistance - 12900, 13000

Trading Range - The Sensex opened at 12981.53, moved up to an intra-day high of 12994.45, declined to an intra-day low of 12819.35 and closed at 12883.83.

Review/Outlook - The Sensex has reflected near term weakness to post a fresh all time high but couldn't sustain these levels for long, has come of its highs and has given a downward key reversal on distinctly higher volume to end in negative territory. A range bound movement cannot be ruled out while an intra-day downside seems like a real possibility especially below the 12864 level and the 12819 level while intra-day support comes in at the 12785 level.                     

GMR Ind. (Daily)

Last Close - 260.90 | Support - 257, 216 | Resistance - 310, 368

Trading Range - The scrip opened at 259.40, moved up to an intra-day high of 260.90, declined to an intra-day low of 248.00 and closed at 260.90.

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. 

JMC Proj. (Daily)

Last Close - 154.85 | Support - 148, 113 | Resistance - 160, 175

Trading Range - The scrip opened at 153.00, moved up to an intra-day high of 154.85, declined to an intra-day low of 150.00 and closed at 154.85.

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.

Ind. Inv. Trst. (Daily) 

Last Close - 081.70 | Support - 078, 058 | Resistance - 099, 115

Trading Range - The scrip opened at 069.10, moved up to an intra-day high of 081.70, declined to an intra-day low of 069.10 and closed at 081.70.

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.

Khaitan Elect. (Daily)

Last Close - 122.80 | Support - 121, 110 | Resistance - 133, 170

Trading Range - The scrip opened at 110.10, moved up to an intra-day high of 123.00, declined to an intra-day low of 110.10 and closed at 122.80.

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	979, 924	996.15	1022, 1061	Tu
DR. REDDY	700, 671	715.60	733, 757	Sd
HLL	224, 216	231.80	240, 252	Dt
INFOSYS	2000, 1900	2073.60	2100, 2200	Up
ITC	190, 180	192.90	210, 225	Up
RIL	1195, 1171	1216.05	1250, 1300	Up
SATYAM	443, 430	450.45	475, 500	Tu
SBI	1000, 950	1032.90	1050, 1100	Sd
T MOTORS	888, 849	900.20	944, 990	Tu
TISCO	500, 480	515.70	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.