Stock picks of the day

The market has staged a marvellous recovery from lower levels and has ended the day clearly in positive territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Pharma, Oil, Consumer Durables and IT have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 9810.46 | Support - 9665, 9547 | Resistance - 9820, 9880

Trading Range - The Sensex opened at 9270.78, moved up to an intra-day high of 9849.20, declined to an intra-day low of 9262.20 and closed at 9810.46.

Review/Outlook - The Sensex has staged a rather surprising and sharp recovery without breaching the previous trading session's low to end in positive territory but confusingly enough on lower volume.  The outlook remains hazy and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in only below the 9849 level.             

Ennore Found. (Daily)

Last Close - 127.65 | Support - 124, 080 | Resistance - 136, 195

Trading Range - The scrip opened at 110.00, moved up to an intra-day high of 127.65, declined to an intra-day low of 108.00 and closed at 127.65.

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. 

ABC Bearings. (Daily)

Last Close - 102.30 | Support - 096, 063 | Resistance - 107, 130

Trading Range - The scrip opened at 090.00, moved up to an intra-day high of 102.30, declined to an intra-day low of 090.00 and closed at 102.30.

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.     

Stovec Ind. (Daily)

Last Close - 105.05 | Support - 101, 072 | Resistance - 117, 142

Trading Range - The scrip opened at 090.00, moved up to an intra-day high of 105.05, declined to an intra-day low of 090.00 and closed at 105.05.

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.     

Clariant Chemicals (Daily)

Last Close - 255.50 | Support - 243, 221 | Resistance - 282, 318 

Trading Range - The scrip opened at 236.00, moved up to an intra-day high of 255.50, declined to an intra-day low of 236.00 and closed at 255.50.

Review/Outlook - The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	750, 724	753.80	793, 829	Sd
DR. REDDY	1150, 1089	1216.15	1225, 1282	Os
HLL	203, 192	207.90	216, 224	Dt
INFOSYS	2769, 2650	2788.30	2813, 2938	Dt
ITC	155, 144	160.50	168, 180	Dt
RIL	897, 858	922.10	925, 949	Dt
SATYAM	616, 594	623.15	645, 678	Dt
SBI	725, 695	771.45	784, 809	Dt
T MOTORS	749, 722	756.50	771, 811	Td
TISCO	452, 437	456.25	466, 480	Os

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.