Stock picks of the day

The market moved up virtually from open to close to post a new high and has ended the day sharply in positive territory. Capital Goods, FMCG, Metals, Banks, Pharma, Auto, Oil, Consumer Durables, PSU and the IT sector have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a nominal decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 9980.42 | Support - 9820, 9665 | Resistance - 9987, 10100

Trading Range - The Sensex opened at 9746.09, moved up to an intra-day high of 10003, declined to an intra-day low of 9739.71 and closed at 9980.42.

Review/Outlook - The Sensex has staged a fantastic turnaround to not only post a fresh all time high but has also managed to touch the magical figure of 10000 but once again on lower volume. The outlook continues to remain positive, while support comes in at the 9945 and the 9880 level while a further upside cannot be ruled out.   

Asian Elect. (Daily)

Last Close - 405.90 | Support - 381, 352 | Resistance - 423, 452

Trading Range - The scrip opened at 391.00, moved up to an intra-day high of 405.90, declined to an intra-day low of 388.00 and closed at 405.90.

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. 

Hind Rectifier. (Daily)

Last Close - 533.60 | Support - 530, 475 | Resistance - 592, 650

Trading Range - The scrip opened at 511.00, moved up to an intra-day high of 533.60, declined to an intra-day low of 511.05 and closed at 533.60.

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.

Chol. Inv. (Daily)

Last Close - 207.95 | Support - 205, 181 | Resistance - 243, 291

Trading Range - The scrip opened at 189.00, moved up to an intra-day high of 207.95, declined to an intra-day low of 189.00 and closed at 207.95.

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. 

Bhartiya Int. (Daily)

Last Close - 146.90 | Support - 128, 116 | Resistance - 147, 188 

Trading Range - The scrip opened at 137.30, moved up to an intra-day high of 146.90, declined to an intra-day low of 135.30 and closed at 146.90.

Review/Outlook - The scrip has reflected strength by closing above a supply line 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	590.80	610, 639	Up
DR. REDDY	1150, 1089	1190.40	1225, 1282	Up
HLL	192, 183	194.35	203, 216	Sd
INFOSYS	2813, 2769	2844.75	2938, 3074	Td
ITC	155, 144	156.75	170, 190	Up
RIL	700, 675	720.15	725, 750	Tu
SATYAM	730, 705	739.40	752, 770	Sd
SBI	850, 830	864.65	871, 900	Os
T MOTORS	700, 670	734.60	750, 800	Up
TISCO	390, 373	406.45	411, 425	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.