Stock picks of the day

The market has continued its upmove to once again post another recent new high to end smartly in positive territory. Pharma, Capital Goods, Consumer Durables, FMCG, IT and PSU's have all ended positive in varying degrees while the Banking sector has ended in negative territory. Volume registered an increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close - 8686.65 | Support - 8648, 8520 | Resistance - 8726, 8772

Trading Range - The Sensex opened at 8669.84, moved up to an intra-day high of 8739.57, declined to an intra-day low of 8661.60 and closed at 8686.65.

Review/Outlook - The Sensex has once again moved up and has not only closed in positive territory but has also posted a fresh 28 trading session high. A further upside seems to be on the cards while it is in proximity of its all time high levels indicating the need to be a wee bit cautious at higher levels.     

Sub. Project. (Daily)

Last Close - 105.85 | Support - 102, 092 | Resistance - 113, 122 

Trading Range - The scrip opened at 103.80, moved up to an intra-day high of 105.85, declined to an intra-day low of 102.00 and closed at 105.85.

Review/Outlook - The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards. 

Spanco Tele. (Daily)

Last Close - 190.20 | Support - 184, 163 | Resistance - 197, 224

Trading Range - The scrip opened at 186.20, moved up to an intra-day high of 192.00, declined to an intra-day low of 185.05 and closed at 190.20.

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. 

Ster. Ind. (Daily)

Last Close - 830.65 | Support - 826, 789 | Resistance- 869, 952

Trading Range - The scrip opened at 818.70, moved up to an intra-day high of 838.85, declined to an intra-day low of 810.00 and closed at 830.65.

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.  

TCS (Daily)

Last Close - 1527.60 | Support - 1516, 1467 | Resistance - 1531, 1597

Trading Range - The scrip opened at 1515.00, moved up to an intra-day high of 1531.00, declined to an intra-day low of 1512.50 and closed at 1527.60.

Review/Outlook - The scrip has reflected strength to post a smart intra-day recovery to end in positive territory and with the indicators looking positive, a further upside seems to be on the cards.

Daily Stock Track

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.