Stock picks for August 5

The market has held firm throughout the day to once again end in positive territory.

Capital goods, consumer durables, FMCG, IT and PSUs all ended on a positive note while banks and pharma came under pressure and ended marginally lower.

Volume registered a decrease (read as turnover) while the undertone was bullish.

Sensex --Last Close: 3832.50 | Support: 3759, 3651 | Resistance: 3895, 4028

Trading Range -- The Sensex opened at 3798.81, moved up to an intra-day high of 3840.72, declined to an intra-day low of 3785.85 and closed at 3832.50.

Review/Outlook -- The Sensex staged a smart bounce back (from an intra-day point of view) to end on an extremely strong footing and also seems to be indicating its intention to appreciate further from these levels.

Hero Honda --Last Close: 270.55 | Support: 254, 235 | Resistance: 272, 311

Trading Range -- The scrip opened at 268.00, moved up to an intra-day high of 273.35, declined to an intra-day low of 267.00 and closed at 270.55.

Review/Outlook -- The scrip seems to have stopped to catch its breath, with the intermediate uptrend still in place and with the oscillators looking better, a further upside seems possible.

ITC Hotels --Last Close: 65.85 | Support: 61, 54 | Resistance: 75, 88

Trading Range -- The scrip opened at 65.40, moved up to an intra-day high of 66.45, declined to an intra-day low of 65.35 and closed at 65.85.

Review/Outlook -- The scrip is in the midst of an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.

Hughes Soft --Last Close: 318.95 | Support: 293, 266 | Resistance: 320, 367

Trading Range -- The scrip opened at 307.00, moved up to an intra-day high of 320.00, declined to an intra-day low of 305.00 and closed at 318.95.

Review/Outlook -- The scrip has reflected strength by posting a 17 month high and with the oscillators looking positive, further appreciation seems to be on the cards.

Concor --Last Close: 381.00 | Support: 379, 338 | Resistance: 420, 481

Trading Range -- The scrip opened at 370.00, moved up to an intra-day high of 381.00, declined to an intra-day low of 370.00 and closed at 381.00.

Review/Outlook -- The scrip has given an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.