Stock picks of the day

The market has remained under pressure, has come off its intra-day high and has finally ended the day in negative territory. Banks, Oil, FMCG, Consumer Durables, Metals, Auto, IT, Capital Goods, Healthcare & PSU's have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed weak.

Sensex (Daily)

Last Close - 14041.24 | Support - 14035, 13931 | Resistance - 14171, 14243

Trading Range - The Sensex opened at 14212.12, moved up to an intra-day high of 14212.12, declined to an intra-day low of 14025.74 and closed at 14041.24.

Review/Outlook - The Sensex has reflected near term weakness by breaching and closing below the previous 6 trading sessions lows to come off from its intra-day high and has finally ended in negative territory on distinctly higher volume. Volatility can be the order of the day, the negatives of the last trading session might just spill over to today's trading session indicating the possibility of a minor intra-day downside especially below the 14025 level while strong support at lower levels could mean a late recovery especially in the event of an early decline.

Godavari Fert. (Daily)

Last Close - 131.40 | Support - 114, 093 | Resistance - 135, 170

Trading Range - The scrip opened at 123.95, moved up to an intra-day high of 131.40, declined to an intra-day low of 121.10 and closed at 131.40s

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. 

Intellvision Soft. (Daily)

Last Close - 190.80 | Support - 171, 144 | Resistance - 198, 224

Trading Range - The scrip opened at 177.40, moved up to an intra-day high of 190.80, declined to an intra-day low of 175.00 and closed at 190.80.

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.

Dagger Forst. (Daily)

Last Close - 076.25 | Support - 073, 060 | Resistance - 080, 093

Trading Range - The scrip opened at 074.00, moved up to an intra-day high of 076.25, declined to an intra-day low of 069.95 and closed at 076.25.

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.

Dhandapani Fin. (Daily)

Last Close - 066.40 | Support - 066, 049 | Resistance - 069, 080

Trading Range - The scrip opened at 063.40, moved up to an intra-day high of 066.40, declined to an intra-day low of 060.60 and closed at 066.40.

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.

Daily Stock Track

Scrip	Support	Last Close	Resistance	Trend
ACC	1022, 979	1037.00	1061, 1110	Sd
DR. REDDY	757, 733	770.00	795, 840	Sd
HLL	216, 203	222.25	224, 240	Up
INFOSYS	2208, 2163	2235.35	2270, 2325	Tu
ITC	168, 155	176.95	180, 190	Up
RIL	1342, 1316	1360.85	1373, 1409	Up
SATYAM	443, 430	471.15	475, 500	Sd
SBI	1166, 1135	1173.95	1190, 1225	Sd
T MOTORS	944, 920	950.05	970, 990	Tu
TISCO	452, 437	464.60	466, 480	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.

DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.