Stock picks for today

The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in positive territory.

Capital Goods, FMCG, Healthcare, Metals, PSUs, & Tech have ended negative in varying degrees while Banks, Consumer Durables, IT, Auto, Oil & Realty has ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed confused.

Sensex (Daily)

Last Close -- 19003.26; Support -- 18833, 18327; Resistance -- 19276, 19621

Trading Range: The Sensex opened at 19290.67, moved up to an intra-day high of 19297.01, declined to an intra-day low of 18930.31 and closed at 19003.26.

Review/Outlook: The Sensex has had a mixed trading session, has had a strong opening, has moved both ways, has received selling pressure at higher levels, has come off from its intra - day high and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 19031 level while resistance at higher levels (19206) -- would limit the upside. The outlook has turned neutral again while resistance comes in at the 20200+ level and support comes in at the 18833 level.

Munjal Auto (Daily)

Last Close -- 103.10; Support -- 094, 079; Resistance -- 120, 157

Trading Range: The scrip opened at 090.00, moved up to an intra-day high of 103.10, declined to an intra-day low of 089.90 and closed at 103.10.

Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Dewan Housing (Daily)

Last Close -- 155.00; Support -- 148, 119; Resistance -- 164, 200

Trading Range: The scrip opened at 151.00, moved up to an intra-day high of 155.00, declined to an intra-day low of 142.00 and closed at 155.00.

Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

GTC Ind (Daily)

Last Close -- 565.25; Support -- 519, 449; Resistance -- 600, 650

Trading Range: The scrip opened at 543.30, moved up to an intra-day high of 565.25, declined to an intra-day low of 542.00 and closed at 565.25.

Review/Outlook: The scrip has reflected strength by appreciating from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Schrader Duncan (Daily)

Last Close -- 284.25; Support -- 275, 241; Resistance -- 298, 348

Trading Range: The scrip opened at 271.00, moved up to an intra-day high of 284.25, declined to an intra-day low of 270.00 and closed at 284.25.

Review/Outlook: The scrip has reflected strength by appreciating 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	1025, 994	1069.45	1099, 1155	Tu
DR. REDDY	610, 579	616.25	645, 669	Tu
HUL	203, 192	210.20	216, 224	Sd
INFOSYS	1510, 1457	1569.30	1667, 1723	Sd
ITC	180, 168	185.40	193, 213	Up
RIL	2805, 2724	2818.40	2929, 3000	Sd
SATYAM	425, 406	425.60	443, 471	Sd
SBI	2180, 2050	2269.80	2279, 2331	Sd
T MOTORS	722, 698	722.30	749, 771	Sd
TISCO	762, 731	802.15	820, 858	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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Sebi Disclosure: The author is an active market participant and could not only be having positions but could even be having contrary positions in the stocks mentioned above.