Stock picks of the day

The market has remained rather range bound but has still managed to sustain at higher levels and has ended the day clearly in positive territory. Banks, Capital Goods, FMCG, IT, Metals, Consumer Durables, Pharma, Auto, Oil and PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close - 10941 | Support  - 10884, 10740 | Resistance - 11000, 11100

Trading Range - The Sensex opened at 10903, moved up to an intra-day high of 10947, declined to an intra-day low of 10889 and closed at 10941.

Review/Outlook - The Sensex has almost created history and has come within striking distance of posting a fresh all time high and has shown a significant amount of resilience to end smartly in positive territory from what was a potentially weak intra-day situation (on lower volume). The outlook remains positive and an intra-day upside above the 10951 level seems like a distinct possibility.                               

Ansal Infra. (Daily)

Last Close - 641.25 | Support - 620, 568 | Resistance - 650, 675

Trading Range - The scrip opened at 616.25, moved up to an intra-day high of 641.25, declined to an intra-day low of 611.00 and closed at 641.25.

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. 

Goldiam Int. (Daily)

Last Close  - 144.00 | Support - 139, 126 | Resistance - 171, 199

Trading Range - The scrip opened at 139.75, moved up to an intra-day high of 144.00, declined to an intra-day low of 139.75 and closed at 144.00.

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.

PBA Infra. (Daily)

Last Close - 163.50 | Support - 161, 140 | Resistance - 167, 185

Trading Range - The scrip opened at 149.00, moved up to an intra-day high of 163.50, declined to an intra-day low of 149.00 and closed at 163.50.

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. 

Era Construct. (Daily)

Last Close - 280.55 | Support - 274, 247 | Resistance - 282, 303 

Trading Range - The scrip opened at 269.70, moved up to an intra-day high of 280.55, declined to an intra-day low of 269.70 and closed at 280.55.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	750, 724	764.75	800, 850	Sd
DR. REDDY	1342, 1282	1363.75	1400, 1466	Tu
HLL	252, 240	252.00	266, 281	Up
INFOSYS	2938, 2813	2964.85	3074, 3453	Tu
ITC	170, 155	177.25	117, 126	Up
RIL	775, 750	776.20	800, 850	Up
SATYAM	810, 770	821.30	900, 950	Tu
SBI	950, 926	970.50	1000, 1050	Up
T MOTORS	900, 850	939.00	950, 999	Up
TISCO	466, 452	467.10	500, 550	Sd

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.