Stock picks of the day

The market has remained under significant amount of pressure, couldn't sustain itself at higher levels and has ended the day clearly in negative territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Pharma, Oil, Consumer Durables and IT 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 weak.

Sensex (Daily)

Last Close - 10398.61 | Support - 10305, 10192 | Resistance - 10424, 10556

Trading Range - The Sensex opened at 10679.49, moved up to an intra-day high of 10679.49, declined to an intra-day low of 10111.96 and closed at 10398.61.

Review/Outlook - The Sensex has once again reflected weakness by posting a seven trading session low to end sharply in negative territory and this time around on clearly higher volume.  The outlook has turned hazy because of the extreme volatility, a range bound picture is envisaged due to the sharp intra-day movements witnessed yesterday while the downward bias could still persist.      

Indiabulls. (Daily)

Last Close - 294.45 | Support - 291, 263 | Resistance - 297, 341

Trading Range - The scrip opened at 271.00, moved up to an intra-day high of 302.70, declined to an intra-day low of 263.00 and closed at 294.45.

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. 

Rajapal Mill. (Daily)

Last Close - 612.05 | Support - 605, 561 | Resistance - 634, 693

Trading Range - The scrip opened at 558.00, moved up to an intra-day high of 612.85, declined to an intra-day low of 520.00 and closed at 612.05.

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.

Aarti Ind. (Daily)

Last Close - 067.45 | Support - 066, 052 | Resistance - 072, 087

Trading Range - The scrip opened at 059.00, moved up to an intra-day high of 072.50, declined to an intra-day low of 056.00 and closed at 067.45.

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. 

Praj Ind. (Daily)

Last Close - 180.65 | Support - 170, 151 | Resistance - 187, 212 

Trading Range - The scrip opened at 170.15, moved up to an intra-day high of 185.55, declined to an intra-day low of 167.95 and closed at 180.65.

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, 700	762.35	800, 850	Sd
DR. REDDY	1342, 1282	1357.40	1400, 1466	Td
HLL	224, 216	233.70	240, 252	Td
INFOSYS	2813, 2769	2908.05	2938, 3074	Td
ITC	155, 144	165.10	168, 180	Td
RIL	950, 900	953.25	1000, 1050	Sd
SATYAM	678, 645	691.15	705, 730	Sd
SBI	830, 800	831.00	850, 871	Td
T MOTORS	750, 700	789.70	800, 850	Td
TISCO	500, 466	516.70	550, 605	Sd

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.