Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in negative territory. Consumer Durables, FMCG, IT, Auto, PSU's, Oil & Pharma have ended positive in varying degrees while Banks, Capital Goods & Metals have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close - 11465.72 | Support - 11453, 11356 | Resistance - 11536, 11618

Trading Range - The Sensex opened at 11498.51, moved up to an intra-day high of 11508.17, declined to an intra-day low of 11409.11 and closed at 11465.72.

Review/Outlook - The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day high to just about end in negative territory on noticeably lower volume and has managed to close above the 11000 level for the eighth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy and an upside could come in only above the 11509 level - the sanctity of the 11330 level needs to be maintained at all times.                

Vardh. Hold. (Daily)

Last Close - 412.70 | Support - 393, 339 | Resistance - 455, 505

Trading Range - The scrip opened at 395.00, moved up to an intra-day high of 412.70, declined to an intra-day low of 395.00 and closed at 412.70.

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. 

GVK Power. (Daily)

Last Close - 189.65 | Support - 180, 152 | Resistance - 220, 279

Trading Range - The scrip opened at 173.90, moved up to an intra-day high of 189.65, declined to an intra-day low of 170.00 and closed at 189.65.

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.        

KLG Systel. (Daily)

Last Close - 178.20 | Support - 150, 121 | Resistance - 190, 253

Trading Range - The scrip opened at 172.30, moved up to an intra-day high of 178.20, declined to an intra-day low of 170.50 and closed at 178.20.

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.       

Manugraph Ind. (Daily)

Last Close - 212.65 | Support - 200, 176 | Resistance - 244, 300 

Trading Range - The scrip opened at 197.00, moved up to an intra-day high of 212.65, declined to an intra-day low of 197.00 and closed at 212.65.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	892, 856	902.65	924, 979	Tu
DR. REDDY	1466, 1400	1494.95	1514, 1589	Tu
HLL	224, 216	237.80	240, 252	Tu
INFOSYS	1721, 1661	1761.70	1800, 1900	Up
ITC	180, 168	180.00	190, 210	Up
RIL	1041, 1001	1055.50	1083, 1109	Tu
SATYAM	770, 752	792.85	810, 830	Tu
SBI	871, 850	878.70	900, 926	Up
T MOTORS	849, 811	849.95	888, 944	Up
TISCO	500, 480	512.55	530, 550	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.

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