Stock picks for today

The market has found life difficult and slightly unsustainable at higher levels but has ended in positive territory. Banks, FMCG, IT, pharma and the PSU sectors have ended positive in varying degrees, while consumer durables and the capital goods sectors have ended in negative territory.

Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close -- 9372.30; Support -- 9348, 9274; Resistance -- 9423, 9500

Trading Range: The Sensex opened at 9398.62, moved up to an intra-day high of 9413.70, declined to an intra-day low of 9328.76 and closed at 9372.30.

Review/Outlook: The Sensex has ended mildly positive and despite making an attempt to overcome the 9400 level, it hasn't been able to do so, has cooled off from an intra-day point of view and in fact has reflected indecision by remaining within the previous session's trading range. The outlook is hazy as a decisive close above the 9400+ levels is a must for a further upside to unfold.

Prime Prop. (Daily)

Last Close -- 167.85; Support -- 161, 142; Resistance -- 199, 234

Trading Range: The scrip opened at 164.70, moved up to an intra-day high of 167.85, declined to an intra-day low of 162.00 and closed at 167.85.

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.

Core Project (Daily)

Last Close -- 217.55; Support -- 200, 178; Resistance -- 241, 270

Trading Range: The scrip opened at 203.00, moved up to an intra-day high of 217.55, declined to an intra-day low of 203.00 and closed at 217.55.

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.

Uniabex Al. P. (Daily)

Last Close -- 147.15; Support -- 145, 125; Resistance -- 149, 179

Trading Range: The scrip opened at 144.90, moved up to an intra-day high of 147.15, declined to an intra-day low of 144.90 and closed at 147.15.

Review/Outlook: The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards.

Zodiac JRDMK (Daily)

Last Close -- 050.40; Support -- 045, 038; Resistance -- 053, 063

Trading Range: The scrip opened at 045.00, moved up to an intra-day high of 050.40, declined to an intra-day low of 044.80 and closed at 050.40.

Review/Outlook: The scrip has reflected strength by appreciating with an upward gap 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	542, 516	549.55	569, 600	Up
DR. REDDY	934, 879	984.30	998, 1089	Up
HLL	192, 183	195.30	203, 216	Up
INFOSYS	2813, 2769	2982.75	3074, 3453	Up
ITC	136, 126	142.20	144, 155	Up
RIL	850, 810	855.10	900, 950	Tu
SATYAM	700, 678	718.00	750, 800	Up
SBI	900, 871	910.35	926, 950	Tu
T MOTORS	600, 568	636.70	650, 700	Up
TISCO	373, 361	381.35	390, 411	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.

DISCLAIMER: While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author is an active market participant and could be having positions in the stocks mentioned above.