Stock picks of the day

The market has had a volatile trading session to basically move up from open to close and has finally ended the day sharply in positive territory. Banks, Consumer Durables, FMCG, Pharma, Metal, IT, Auto, PSU, Capital Goods and Oil have ended positive in varying degrees while no sector have ended in negative territory. Volume registered a marginal increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 10415.61 | Support - 10305, 10192 | Resistance - 10424, 10556

Trading Range - The Sensex opened at 10351.75, moved up to an intra-day high of 10443.05, declined to an intra-day low of 10302.62 and closed at 10415.61.

Review/Outlook - The Sensex has reflected surprising near term strength to end sharply in positive territory after opening with an upward gap and is now within striking distance of the 55 Day EMA but this time around on marginally higher volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10443 level while intra-day resistance comes in at the 10511 level.        

Areva Ltd. (Daily)

Last Close - 557.00 | Support - 554, 514 | Resistance - 682, 779

Trading Range - The scrip opened at 540.00, moved up to an intra-day high of 557.00, declined to an intra-day low of 540.00 and closed at 557.00.

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. 

Zenith Infotech. (Daily)

Last Close - 185.40 | Support - 175, 148 | Resistance - 200, 250

Trading Range - The scrip opened at 181.00, moved up to an intra-day high of 185.40, declined to an intra-day low of 181.00 and closed at 185.40.

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.      

Patel Engg. (Daily)

Last Close - 251.90 | Support - 228, 196 | Resistance - 289, 361

Trading Range - The scrip opened at 250.00, moved up to an intra-day high of 251.90, declined to an intra-day low of 243.00 and closed at 251.90.

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.        

Revathi Equip. (Daily)

Last Close - 577.70 | Support - 504, 457 | Resistance - 590, 668 

Trading Range - The scrip opened at 574.00, moved up to an intra-day high of 577.70, declined to an intra-day low of 570.00 and closed at 577.70.

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	793, 750	820.00	829, 856	Td
DR. REDDY	1282, 1225	1296.05	1342, 1400	Td
HLL	224, 216	234.35	240, 252	Td
INFOSYS	1578, 1537	1610.20	1625, 1661	Td
ITC	155, 144	163.85	168, 180	Td
RIL	977, 949	987.30	1001, 1024	Td
SATYAM	730, 705	731.00	752, 770	Td
SBI	729, 695	746.90	784, 809	Td
T MOTORS	698, 670	701.65	722, 749	Td
TISCO	480, 466	494.95	500, 530	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.

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