Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory. Banks, Consumer Durables, Oil, Auto, Capital Goods, Healthcare, PSU & Realty have ended negative in varying degrees while FMCG, IT & Metal have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.

Sensex

Last Close - 17373.01 | Support - 17292, 16964 | Resistance - 17494, 17711

Trading Range - The Sensex opened at 17441.41, moved up to an intra-day high of 17502.15, declined to an intra-day low of 17237.68 and closed at 17373.01.

Review/Outlook - The Sensex has had a mixed trading session, has had a negative opening, has moved both ways, has faced selling pressure even at lower levels, has come off from its intra - day high and has finally ended in negative territory on higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 17391 level while significant resistance at higher levels (17480) - would limit the upside. The outlook has turned positive again while resistance comes in at the 18300+ level and support comes in at the 16600 level.

Lkp Mer. Fin

Last Close - 166.55 | Support - 151, 101 | Resistance - 209, 234

Trading Range - The scrip opened at 156.05, moved up to an intra-day high of 167.75, declined to an intra-day low of 153.30 and closed at 166.55.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Denison Hydro

Last Close - 495.00 | Support - 443, 401 | Resistance - 512, 556

Trading Range - The scrip opened at 450.00, moved up to an intra-day high of 495.00, declined to an intra-day low of 450.00 and closed at 495.00.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Siemens Med

Last Close - 892.55 | Support - 861, 837 | Resistance - 931, 999

Trading Range - The scrip opened at 850.00, moved up to an intra-day high of 892.55, declined to an intra-day low of 850.00 and closed at 892.55.

Review/Outlook - The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Accent Tech

Last Close - 191.40 | Support - 181, 157 | Resistance - 198, 245

Trading Range - The scrip opened at 181.00, moved up to an intra-day high of 192.70, declined to an intra-day low of 181.00 and closed at 191.40.

Review/Outlook - The scrip has reflected strength by appreciating 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	724, 697	741.10	750, 778	Dt
DR. REDDY	610, 579	643.80	645, 689	Up
HUL	240, 224	248.20	252, 272	Up
INFOSYS	1785, 1723	1820.30	1834, 1917	Up
ITC	213, 193	224.90	227, 240	Up
RIL	2615, 2539	2654.40	2684, 2724	Up
SATYAM	493, 475	497.05	522, 549	Up
SBI	1722, 1678	1756.20	1760, 1802	Tu
T MOTORS	670, 635	681.80	698, 722	Tu
T STEEL	762, 731	816.40	820, 858	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.