Stock picks of the day

The market has faced selling pressure at higher levels despite a decent opening but has still ended in negative territory. The Capital Goods sector has ended positive in varying degrees while Consumer Durables, FMCG, Auto, Banks, IT, Metals, Pharma, Oil and the PSU sector have ended in negative territory. Volume registered a decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 9311.19 | Support - 9274, 9176 | Resistance - 9348, 9423

Trading Range - The Sensex opened at 9382.86, moved up to an intra-day high of 9397.62, declined to an intra-day low of 9287.09 and closed at 9311.19.

Review/Outlook - The Sensex continues to reflect weakness and has now ended in negative territory for the fifth trading session in a row while it continues to remain corrective. An intra-day downside could come in below the 9287 level while support comes in at the 9274 making it an intriguing scenario, which promises to be replete with volatility.    

Modipon Ltd. (Daily)

Last Close - 084.95 | Support - 078, 067 | Resistance - 092, 110

Trading Range - The scrip opened at 081.00, moved up to an intra-day high of 084.95, declined to an intra-day low of 081.00 and closed at 084.95.

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 Alloy. (Daily)

Last Close - 150.85 | Support - 145, 122 | Resistance - 158, 179

Trading Range - The scrip opened at 149.40, moved up to an intra-day high of 150.85, declined to an intra-day low of 149.40 and closed at 150.85.

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. 

Indo-National. (Daily)

Last Close - 470.90 | Support - 445, 389 | Resistance - 499, 612

Trading Range - The scrip opened at 462.05, moved up to an intra-day high of 472.40, declined to an intra-day low of 462.05 and closed at 470.90.

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.

Prime Properties. (Daily)

Last Close - 105.20 | Support - 102, 084 | Resistance - 117, 150 

Trading Range - The scrip opened at 102.00, moved up to an intra-day high of 105.20, declined to an intra-day low of 099.00 and closed at 105.20.

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	542, 516	550.50	569, 610	Td
DR. REDDY	998, 934	1033.25	1049, 1089	UP
HLL	183, 172	186.45	192, 203	Td
INFOSYS	2769, 2650	2780.45	2813, 2938	Dt
ITC	144, 136	144.05	155, 170	Tu
RIL	850, 800	873.10	900, 950	Td
SATYAM	705, 678	727.00	737, 750	Td
SBI	900, 871	918.65	926, 950	Tu
T MOTORS	635, 600	641.70	650, 670	Sd
TISCO	349, 331	356.05	361, 373	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.