Stock picks of the day

The market has had a fantastic trading session to forge ahead and has ended the day sharply in positive territory. Banks, Consumer Durables, FMCG, Pharma, IT, Oil, Capital Goods, Auto and PSU's have ended positive in varying degrees while the Metal sector has ended in negative territory. Volume registered a clear increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 11822 | Support - 11707, 11618 | Resistance - 11826, 11931

Trading Range - The Sensex opened at 11625, moved up to an intra-day high of 11835, declined to an intra-day low of 11625 and closed at 11822.

Review/Outlook - The Sensex has staged a brilliant rally by opening with an upward gap and moving up from open to close to end sharply in positive territory but convincingly enough, on significantly higher volume. The bigger picture continues to remain quite solid while an intra-day upside seems like a distinctly possibility as the Sensex has also closed at an all time high closing.       

Mysore Cem. (Daily)

Last Close - 051.50 | Support - 048, 031 | Resistance - 075, 100

Trading Range - The scrip opened at 050.70, moved up to an intra-day high of 051.50, declined to an intra-day low of 048.50 and closed at 051.50.

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. 

Morarjee Real. (Daily)

Last Close - 688.00 | Support - 661, 613 | Resistance - 700, 800

Trading Range - The scrip opened at 674.70, moved up to an intra-day high of 688.00, declined to an intra-day low of 665.85 and closed at 688.00.

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.

Taneja Aero. (Daily)

Last Close - 232.75 | Support - 213, 173 | Resistance - 250, 300

Trading Range - The scrip opened at 220.00, moved up to an intra-day high of 232.75, declined to an intra-day low of 220.00 and closed at 232.75.

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. 

Dagger Forst. (Daily)

Last Close - 072.75 | Support - 069, 054 | Resistance - 085, 104 

Trading Range - The scrip opened at 072.95, moved up to an intra-day high of 073.20, declined to an intra-day low of 068.70 and closed at 072.75.

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	900, 850	935.10	950, 1000	Up
DR. REDDY	1500, 1466	1509.50	1589, 1700	Up
HLL	266, 252	279.70	281, 295	Up
INFOSYS	3250, 3155	3335.30	3453, 3600	Up
ITC	190, 180	197.70	210, 225	Sd
RIL	850, 800	891.25	900, 950	Up
SATYAM	860, 830	861.85	886, 950	Sd
SBI	926, 900	942.05	950, 1000	Td
T MOTORS	900, 850	932.30	950, 999	Sd
TISCO	550, 500	589.30	605, 700	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.