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. Metal, Banks, Consumer Durables, Capital Goods, PSU & Realty have ended negative in varying degrees while FMCG, Healthcare, Auto, Oil & IT have ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex

Last Close - 17339.31 | Support - 17292, 16964 | Resistance - 17494, 17711

Trading Range - The Sensex opened at 17404.15, moved up to an intra-day high of 17413.81, declined to an intra-day low of 17229.98 and closed at 17339.31.

Review/Outlook - The Sensex has had a mixed trading session, has had a positive 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 lower volume. Volatility can be the order of the day; an intra-day downside (seems like a possibility) could come in below the 17322 level while significant support at lower levels (17205) - would limit the downside and result in a smart recovery. 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 - 170.25 | Support - 151, 101 | Resistance - 209, 234

Trading Range - The scrip opened at 165.00, moved up to an intra-day high of 174.00, declined to an intra-day low of 164.00 and closed at 170.25.

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 - 507.50 | Support - 443, 401 | Resistance - 512, 556

Trading Range - The scrip opened at 515.05, moved up to an intra-day high of 540.00, declined to an intra-day low of 505.00 and closed at 507.50.

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.

Oudh Sugar

Last Close - 069.85 | Support - 065, 048 | Resistance - 073, 091

Trading Range - The scrip opened at 065.30, moved up to an intra-day high of 069.85, declined to an intra-day low of 065.00 and closed at 069.85.

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 - 194.55 | Support - 181, 157 | Resistance - 198, 245

Trading Range - The scrip opened at 200.95, moved up to an intra-day high of 200.95, declined to an intra-day low of 191.00 and closed at 194.55.

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.

Daily Stock Track               

Scrip	Support	Last Close	Resistance	Trend
ACC	724, 697	737.20	750, 778	Dt
DR. REDDY	610, 579	644.75	645, 689	Up
HUL	240, 224	251.10	252, 272	Up
INFOSYS	1834, 1735	1843.20	1917, 1999	Up
ITC	213, 193	226.95	227, 240	Up
RIL	2615, 2539	2682.35	2684, 2724	Up
SATYAM	475, 443	489.30	493, 522	Up
SBI	1760, 1722	1768.25	1802, 1838	Tu
T MOTORS	670, 635	679.75	698, 722	Tu
T STEEL	820, 762	824.95	858, 890	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.