Stock picks of the day

The market has done an action replay to collapse once again to end the day in negative territory. Banks, Capital Goods, Consumer Durables, Pharma, IT, Metals, Auto, FMCG, PSU and Oil have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed panicky.

Sensex (Daily)

Last Close - 10938.61 | Support - 10884, 10740 | Resistance - 10947, 11052

Trading Range - The Sensex opened at 11549.67, moved up to an intra-day high of 11697.11, declined to an intra-day low of 10799.01 and closed at 10938.61.

Review/Outlook - The Sensex has reflected a significant amount of weakness to post a fresh a 39 trading session low to end sharply in negative territory. The outlook has turned hazy because of the extreme volatility while strong support comes in around the 10750 (& the 10377) level and it remains to be seen whether this level provides the necessary respite for a bounce back – the intra-day picture is getting increasingly oversold.               

Assam Co. (Daily)

Last Close - 028.10 | Support - 027, 022 | Resistance - 030, 045

Trading Range - The scrip opened at 026.95, moved up to an intra-day high of 028.10, declined to an intra-day low of 026.50 and closed at 028.10.

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. 

Premco Global. (Daily)

Last Close - 023.21 | Support - 021, 018 | Resistance - 029, 043

Trading Range - The scrip opened at 021.00, moved up to an intra-day high of 023.21, declined to an intra-day low of 020.00 and closed at 023.21.

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.

KLG Systel. (Daily)

Last Close - 133.60 | Support - 107, 090 | Resistance - 140, 173

Trading Range - The scrip opened at 134.00, moved up to an intra-day high of 134.95, declined to an intra-day low of 126.00 and closed at 133.60.

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. 

Futura Poly. (Daily)

Last Close - 020.10 | Support - 020, 013 | Resistance - 027, 034 

Trading Range - The scrip opened at 020.00, moved up to an intra-day high of 020.55, declined to an intra-day low of 019.00 and closed at 020.10.

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	750, 724	754.45	800, 850	Os
DR. REDDY	1500, 1466	1516.60	1589, 1700	Td
HLL	240, 224	243.20	252, 266	Td
INFOSYS	2938, 2813	2974.60	3074, 3155	Td
ITC	180, 168	180.65	190, 210	Td
RIL	950, 900	976.55	1000, 1100	Os
SATYAM	645, 616	664.25	678, 705	Td
SBI	850, 830	868.00	871, 900	Td
T MOTORS	800, 750	848.90	850, 900	Td
TISCO	500, 466	503.50	550, 605	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.