Stock picks of the day

The market has staged a rather amazing turnaround from lower levels to end sharply in positive territory. Banks, Capital Goods, Pharma, Consumer Durables, FMCG, IT and PSU's have all ended positive in varying degrees while no sector has ended in negative territory. Volume registered a decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 7892.32 | Support - 7843, 7790 | Resistance - 7983, 8083

Trading Range - The Sensex opened at 7717.07, moved up to an intra-day high of 7905.70, declined to an intra-day low of 7717.07 and closed at 7892.32.

Review/Outlook - The Sensex has staged an extremely sharp recovery but the disconcerting factor is the distinctly lower volume accompanying the rise. An intra-day upside above the 7906 level is a possibility but it remains to be seen whether such an upside is sustainable or not.

Ansal Hsng (Daily)

Last Close - 074.40 | Support - 071, 059 | Resistance - 077, 091

Trading Range - The scrip opened at 065.00, moved up to an intra-day high of 074.70, declined to an intra-day low of 065.00 and closed at 074.40.

Review/Outlook - The scrip has reflected strength by appreciating to post a 04 trading session high and with the indicators looking positive, a further upside seems to be on the cards.

LIC Housing Finance (Daily)

Last Close - 193.20 | Support - 192, 170 | Resistance - 211, 224

Trading Range - The scrip opened at 185.05, moved up to an intra-day high of 194.70, declined to an intra-day low of 195.05 and closed at 193.20.

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

FCGL Ind. (Daily)

Last Close - 073.80 | Support - 071, 062 | Resistance - 076, 088

Trading Range - The scrip opened at 072.00, moved up to an intra-day high of 073.80, declined to an intra-day low of 070.00 and closed at 073.80.

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.

IVRCL (Daily)

Last Close - 647.70 | Support - 629, 590 | Resistance – 650, 688

Trading Range - The scrip opened at 625.00, moved up to an intra-day high of 652.90, declined to an intra-day low of 619.90 and closed at 647.70.

Review/Outlook - The scrip has reflected strength after receiving support from the 620 level 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	420, 398	538.95	450, 477	Td
DR. REDDY	798, 794	803.20	850, 879	Td
HLL	155, 149	162.40	163, 172	Dt
INFOSYS	2460, 2313	2467.70	2537, 2650	Dt
ITC	108, 101	115.75	117, 126	Dt
RIL	740, 713	751.20	780, 800	Td
SATYAM	580, 560	589.95	645, 700	Td
SBI	800, 750	830.65	850, 900	Dt
T MOTORS	472, 448	484.60	494, 518	Td
TISCO	331, 316	338.65	349, 361	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.