Stock picks for August 27

The market has staged a stunning comeback to end sharply in positive territory.

Banks, capital goods, consumer durables, pharma, IT, FMCG and PSUs all ended with gains of varying degrees.

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

Sensex --Last Close: 4152.29 | Support: 4028, 3895 | Resistance: 4166, 4322

Trading Range -- The Sensex opened at 4021.91, moved up to an intra-day high of 4160.02, declined to an intra-day low of 4021.91 and closed at 4152.29.

Review/Outlook -- The Sensex has once again posted a new high (a 29 month high) while the intermediate uptrend is very much back on track with the scintillating recovery. It has been a broad based rally across sectors while a further upside seems like a distinct possibility.

Polaris Software --Last Close: 124.45 | Support: 117, 080 | Resistance: 145, 163

Trading Range -- The scrip opened at 113.00, moved up to an intra-day high of 125.90, declined to an intra-day low of 112.40 and closed at 124.45.

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

BASF --Last Close: 139.00 | Support: 124, 108 | Resistance: 146, 180

Trading Range -- The scrip opened at 132.00, moved up to an intra-day high of 140.00, declined to an intra-day low of 132.00 and closed at 139.00.

Review/Outlook -- The scrip seems to have commenced an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.

Kochi Refineries --Last Close: 144.35 | Support: 121, 103 | Resistance: 146, 174

Trading Range -- The scrip opened at 131.80, moved up to an intra-day high of 145.00, declined to an intra-day low of 131.80 and closed at 144.35.

Review/Outlook -- The scrip has reflected strength by posting a 126-month high and with the oscillators looking positive, further appreciation seems to be on the cards.

Hero Honda --Last Close: 291.55 | Support: 272, 254 | Resistance: 311, 330

Trading Range -- The scrip opened at 277.90, moved up to an intra-day high of 293.00, declined to an intra-day low of 276.00 and closed at 291.55.

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

Stock Track

Scrip Support Last Close Resistance Trend ACC 203, 188 214.35 219, 243 Up HLL 183, 172 189.00 192, 203 Up  INFOSYS 3468, 2985 3736.45 3977, 4360 Up ITC 729, 665 793.10 802, 882 Up MTNL 124, 115 129.35 139, 157 Up RIL 374, 345 391.40 407, 452 Up SATYAM 199, 173 207.90 224, 253 Up SBI 415, 380 437.10 450, 488 Tu  TELCO 260, 232 270.85 284, 302 Up TISCO 231, 220 256.10 260, 295 Tu 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, CMP - Current Market Price, 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. 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 has no positions in the stocks mentioned above