Stock picks of the day

The market has staged a smart rally to move up virtually from open to close to end sharply in positive territory. Banks, Capital Goods, Consumer Durables, FMCG, Pharma, IT and PSU have all ended positive in varying degrees while no sector has ended in negative territory. Volume registered a mild decrease (read as turnover) while the undertone seemed optimistic.

Sensex (Daily)

Last Close - 8744.04 | Support - 8726, 8648 | Resistance - 8772, 8822

Trading Range - The Sensex opened at 8655.14, moved up to an intra-day high of 8765.71, declined to an intra-day low of 8655.14 and closed at 8744.04.

Review/Outlook - The Sensex's has continued with its merry ways and has gone ahead to post a strong rally yesterday to once again end sharply in positive territory while the disconcerting factor is the lower volume accompanying the rise for the 2nd session in a row. Resistance can be expected at the all time high level of 8822.         

Shriram Invest. (Daily)

Last Close - 101.25 | Support - 099, 094 | Resistance - 111, 127 

Trading Range - The scrip opened at 098.90, moved up to an intra-day high of 101.25, declined to an intra-day low of 098.05 and closed at 101.25.

Review/Outlook - The scrip has reflected strength by closing above the 55 Day Moving Average and with the indicators looking positive, a further upside seems to be on the cards. 

Taneja Aero. (Daily)

Last Close - 139.25 | Support - 135, 120 | Resistance - 144, 169

Trading Range - The scrip opened at 135.00, moved up to an intra-day high of 139.25, declined to an intra-day low of 135.00 and closed at 139.25.

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. 

Wipro (Daily)

Last Close - 437.70 | Support - 414, 388 | Resistance - 439, 464

Trading Range - The scrip opened at 434.80, moved up to an intra-day high of 440.00, declined to an intra-day low of 431.50 and closed at 437.70.

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.  

Vid. Int'nl (Daily)

Last Close - 088.15 | Support - 080, 070 | Resistance - 100, 119 

Trading Range - The scrip opened at 087.70, moved up to an intra-day high of 089.00, declined to an intra-day low of 086.75 and closed at 088.15.

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	500, 477	507.10	550, 600	Up
DR. REDDY	879, 850	922.65	934, 998	Up
HLL	172, 163	176.75	183, 192	Tu
INFOSYS	2650, 2537	2700.90	2769, 2813	Up
ITC	126, 117	134.65	136, 144	Tu
RIL	810, 780	844.35	850, 900	Up
SATYAM	616, 580	642.80	645, 700	Td
SBI	900, 850	900.50	950, 1000	Sd
T MOTORS	543, 518	555.70	568, 600	Up
TISCO	331, 316	342.45	349, 361	Tu

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.