Stock picks of the day

The market hasn't been able to 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 marginal decrease (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 9062.65 | Support - 9034, 8960 | Resistance - 9113, 9176

Trading Range - The Sensex opened at 9360.06, moved up to an intra-day high of 9360.06, declined to an intra-day low of 8993.58 and closed at 9062.65.

Review/Outlook - The Sensex has continued to reflect weakness while it hasn't be able to sustain itself at higher levels to end sharply in negative territory but confusingly enough on mildly lower volume. The outlook remains negative and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day downside could come in only below the 8993 level.                

Hind Sanitary. (Daily)

Last Close - 099.15 | Support - 098, 069 | Resistance - 117, 149

Trading Range - The scrip opened at 121.00, moved up to an intra-day high of 121.00, declined to an intra-day low of 099.15 and closed at 099.15.

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. 

Rane Engg. (Daily)

Last Close - 332.80 | Support - 289, 250 | Resistance - 346, 384

Trading Range - The scrip opened at 300.00, moved up to an intra-day high of 347.00, declined to an intra-day low of 300.00 and closed at 332.80.

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.     

Kalyani Stl. (Daily)

Last Close - 217.50 | Support - 202, 166 | Resistance - 264, 306

Trading Range - The scrip opened at 230.00, moved up to an intra-day high of 230.00, declined to an intra-day low of 216.80 and closed at 217.50.

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.      

Kirl. Oil. Eng. (Daily)

Last Close - 171.10 | Support - 158, 121 | Resistance - 179, 219 

Trading Range - The scrip opened at 178.00, moved up to an intra-day high of 190.00, declined to an intra-day low of 171.10 and closed at 171.10.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	697, 668	703.75	724, 750	Sd
DR. REDDY	1150, 1089	1207.35	1225, 1282	Os
HLL	183, 172	188.15	192, 203	Dt
INFOSYS	2537, 2460	2641.05	2650, 2769	Dt
ITC	144, 136	145.95	155, 168	Dt
RIL	858, 820	858.75	897, 925	Dt
SATYAM	580, 560	587.40	594, 616	Dt
SBI	725, 695	750.95	784, 809	Dt
T MOTORS	670, 635	693.95	698, 722	Dt
TISCO	381, 373	390.45	390, 411	Dt

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.