Stock picks of the day

The market hasn't been able to sustain itself at higher levels despite a decent opening and has ended the day clearly in negative territory. Pharma has ended positive in varying degrees while Banks, Consumer Durables, IT, Auto, Capital Goods, FMCG, Metals, Oil and PSU's have ended in negative territory. Volume registered a minor decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 10841 | Support - 10740, 10662 | Resistance - 10884, 11000

Trading Range - The Sensex opened at 10900, moved up to an intra-day high of 10935, declined to an intra-day low of 10784 and closed at 10841.

Review/Outlook - The Sensex has reflected some amount of weakness by breaching the previous four trading session's intra-day lows to end in negative territory indicating the probable onset of a minor correction. The Sensex might decline in intra-day movements especially below the 10784 level while the low volume decline could mean a late recovery especially if the depreciation takes place early on.                                 

To. Pow. Sec. (Daily)

Last Close - 614.35 | Support - 583, 529 | Resistance - 650, 700

Trading Range - The scrip opened at 585.00, moved up to an intra-day high of 614.35, declined to an intra-day low of 585.00 and closed at 614.35.

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. 

Lanxess ABS. (Daily)

Last Close - 145.60 | Support - 142, 120 | Resistance - 156, 200

Trading Range - The scrip opened at 134.00, moved up to an intra-day high of 145.60, declined to an intra-day low of 132.55 and closed at 145.60.

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.

Manugraph Ind. (Daily)

Last Close - 270.80 | Support - 244, 200 | Resistance - 300, 350

Trading Range - The scrip opened at 265.00, moved up to an intra-day high of 274.95, declined to an intra-day low of 264.00 and closed at 270.80.

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. 

Ansal Hous. (Daily)

Last Close - 323.75 | Support - 304, 251 | Resistance - 350, 400 

Trading Range - The scrip opened at 313.00, moved up to an intra-day high of 323.75, declined to an intra-day low of 301.00 and closed at 323.75.

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	724, 697	744.35	750, 800	Td
DR. REDDY	1466, 1400	1489.35	1500, 1600	Tu
HLL	252, 240	255.45	266, 281	Sd
INFOSYS	2813, 2769	2916.50	2938, 3074	Tu
ITC	170, 155	176.80	190, 210	Sd
RIL	750, 725	770.80	775, 800	Up
SATYAM	810, 770	817.30	900, 950	Sd
SBI	926, 900	948.60	950, 1000	Up
T MOTORS	900, 850	917.75	950, 999	Sd
TISCO	466, 452	469.25	500, 550	Td

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.