Stock picks of the day

The market opened with an upward gap but hasn't been able to sustain itself at higher levels and has ended the day sharply in negative territory. Banks, Consumer Durables, Pharma, Metals, Auto, PSU, FMCG, Capital Goods and Oil and have ended negative in varying degrees while only the IT sector has ended in positive territory. Volume registered an increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 9981.11 | Support - 9880, 9820 | Resistance - 9987, 10100

Trading Range - The Sensex opened at 10169, moved up to an intra-day high of 10184, declined to an intra-day low of 9970.00 and closed at 9981.11.

Review/Outlook - The Sensex has spent the entire last week trying to overcome the 10200 level but has been able to do so and has in fact gone the other way to close below the psychologically important level of 10000. The Sensex has given a downward key reversal on the weekly chart and a further intra-day downside below the 9970 level cannot be ruled out while support comes in at the 9945 level.         

IL & FS Invest. (Daily)

Last Close - 208.85 | Support - 200, 165 | Resistance - 250, 300

Trading Range - The scrip opened at 207.50, moved up to an intra-day high of 208.85, declined to an intra-day low of 203.25 and closed at 208.85.

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

Jayant Agro. (Daily)

Last Close - 185.90 | Support - 165, 138 | Resistance - 198, 227

Trading Range - The scrip opened at 172.00, moved up to an intra-day high of 185.90, declined to an intra-day low of 167.00 and closed at 185.90.

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.

Greenply Ind. (Daily)

Last Close - 117.85 | Support - 097, 063 | Resistance - 125, 160

Trading Range - The scrip opened at 113.25, moved up to an intra-day high of 117.85, declined to an intra-day low of 110.55 and closed at 117.85.

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. 

Sanghvi Mov. (Daily)

Last Close - 733.35 | Support - 702, 622 | Resistance - 800, 900 

Trading Range - The scrip opened at 702.00, moved up to an intra-day high of 733.60, declined to an intra-day low of 702.00 and closed at 733.60.

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	569, 542	579.90	610, 639	Sd
DR. REDDY	1282, 1225	1286.85	1342, 1400	Up
HLL	224, 216	231.55	240, 266	Up
INFOSYS	2769, 2650	2786.00	2813, 2938	Td
ITC	155, 144	161.65	170, 190	Up
RIL	675, 650	693.30	700, 725	Td
SATYAM	730, 705	740.60	752, 770	Sd
SBI	850, 830	857.70	871, 900	Td
T MOTORS	750, 700	773.15	800, 850	Up
TISCO	373, 361	386.30	390, 411	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.