Stock picks of the day

The market has remained in a weak state of mind, has come off its intra-day high and has finally ended the day in negative territory. Consumer Durables, FMCG, IT, Auto, Metal & PSU, Banks, Capital Goods, Oil, Realty & Healthcare have ended negative in varying degrees while no sector has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed shaky

Sensex (Daily)                                                                               

Last Close - 15357.35 | Support - 15322, 15160 | Resistance - 15638, 15734

Trading Range - The Sensex opened at 15873.28, moved up to an intra-day high of 15873.28, declined to an intra-day low of 15228.99 and closed at 15357.35. 

Review/Outlook -  The Sensex has had a weak trading session, has had a negative opening, has moved just one way, has received selling pressure even at lower levels, has come off from its intra - day high and has finally ended sharply in negative territory on lower volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 15369 level while significant resistance at higher levels (15602) – would limit the upside. The outlook has turned neutral again while resistance comes in at the 18800+ level and support comes in at the 16200 level.  

Gulshan Poly. (Daily)                                                

Last Close - 293.70 | Support - 266, 237 | Resistance - 294, 346

Trading Range - The scrip opened at 266.00, moved up to an intra-day high of 293.80, declined to an intra-day low of 265.90 and closed at 293.70.

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.   

Dcm Shriram. (Daily)                                               

Last Close - 113.70 | Support - 110, 084 | Resistance - 129, 142

Trading Range - The scrip opened at 107.75, moved up to an intra-day high of 118.50, declined to an intra-day low of 107.75 and closed at 113.70.

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.   

Godrej Con. (Daily)                                         

Last Close - 139.45 | Support - 128, 101 | Resistance - 146, 163

Trading Range - The scrip opened at 132.05, moved up to an intra-day high of 141.00, declined to an intra-day low of 132.05 and closed at 139.45.

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.       

Nitco Tiles. (Daily)                                                

Last Close - 240.30 | Support - 235, 212 | Resistance - 253, 290

Trading Range - The scrip opened at 238.00, moved up to an intra-day high of 250.00, declined to an intra-day low of 235.10 and closed at 240.30.

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	778, 750	779.25	829, 856	Tu
DR. REDDY	530, 487	539.30	579, 610	Td
HUL	216, 203	222.45	224, 240	Sd
INFOSYS	1325, 1273	1333.50	1385, 1425	Sd
ITC	180, 169	185.45	193, 213	Sd
RIL	2180, 2120	2241.65	2274, 2309	Sd
SATYAM	338, 305	364.05	366, 385	Sd
SBI	1624, 1539	1695.70	1760, 1802	Sd
T MOTORS	600, 561	620.35	635, 670	Sd
T STEEL	695, 670	697.20	731, 762	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.