Stock picks of the day

The market hasn't been able to sustain itself at higher levels to face severe pressure and has ended the day clearly in negative territory. Banks, Pharma, Auto, Metals, Oil & Gas, Consumer Durables, Capital Goods, FMCG, and PSU's have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 10509 | Support - 10424, 10305 | Resistance - 10556, 10706

Trading Range - The Sensex opened at 10728, moved up to an intra-day high of 10741, declined to an intra-day low of 10494 and closed at 10509.

Review/Outlook - The Sensex has reflected some amount of weakness by virtually collapsing on very high volume to end sharply in negative territory. It would be rather premature to take a call on the state of the market since it is a single day selloff while intra-day support comes in at the 10494 level the breach of which could mean further downside.                      

Liberty Phos. (Daily)

Last Close - 053.20 | Support - 048, 035 | Resistance - 054, 076

Trading Range - The scrip opened at 047.25, moved up to an intra-day high of 053.20, declined to an intra-day low of 045.00 and closed at 053.20.

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. 

Gulf Oil (Daily)

Last Close - 878.60 | Support - 749, 674 | Resistance - 900, 950

Trading Range - The scrip opened at 735.00, moved up to an intra-day high of 880.80, declined to an intra-day low of 722.10 and closed at 878.60.

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.

GTC Ind. (Daily)

Last Close - 196.05 | Support - 195, 164 | Resistance - 223, 249

Trading Range - The scrip opened at 181.90, moved up to an intra-day high of 199.00, declined to an intra-day low of 181.00 and closed at 196.05.

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. 

GHCL Ltd. (Daily)

Last Close - 139.60 | Support - 135, 120 | Resistance - 150, 175 

Trading Range - The scrip opened at 133.00, moved up to an intra-day high of 142.70, declined to an intra-day low of 129.00 and closed at 139.60.

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	697, 668	713.90	724, 750	Up
DR. REDDY	1282, 1225	1303.75	1342, 1400	Sd
HLL	240, 224	242.20	252, 266	Up
INFOSYS	2769, 2650	2797.45	2813, 2938	Sd
ITC	170, 155	173.40	190, 210	Up
RIL	700, 675	719.45	725, 750	Tu
SATYAM	770, 752	777.05	810, 900	Sd
SBI	871, 850	888.25	900, 926	Tu
T MOTORS	850, 800	879.65	900, 950	Up
TISCO	437, 425	443.80	452, 466	UP

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.