Stock picks of the day

The market has finally cooled off after finding sustainability a difficult proposition at higher levels to end sharply in negative territory. Pharma and consumer durables have ended positive in varying degrees while the banks, capital goods, FMCG, IT and PSU's have ended in negative territory. Volume registered a decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 8610.74 | Support - 8520, 8446 | Resistance - 8648, 8726

Trading Range - The Sensex opened at 8699.27, moved up to an intra-day high of 8713.10, declined to an intra-day low of 8586.92 and closed at 8610.74.

Review/Outlook - The Sensex has finally shown some signs of weakness, which has effectively ended its 6 trading session old winning spree to end sharply in negative territory. A further decline seems to be on the cards especially below the 8586 level while an unsustainable mid-session intra-day recovery cannot be ruled out.

Sub. Project. (Daily)

Last Close - 111.10 | Support - 102, 092 | Resistance - 113, 122

Trading Range - The scrip opened at 108.80, moved up to an intra-day high of 111.10, declined to an intra-day low of 108.80 and closed at 111.10.

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.

Hyd. Ind. (Daily)

Last Close - 523.65 | Support - 511, 467 | Resistance - 547, 598

Trading Range - The scrip opened at 518.10, moved up to an intra-day high of 523.65, declined to an intra-day low of 515.00 and closed at 523.65.

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.

Tata Motors (Daily)

Last Close - 545.20 | Support - 543, 518 | Resistance - 568, 600

Trading Range - The scrip opened at 547.00, moved up to an intra-day high of 554.40, declined to an intra-day low of 543.00 and closed at 545.20.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Orchid Chem. (Daily)

Last Close - 216.75 | Support - 207, 189 | Resistance - 226, 251

Trading Range - The scrip opened at 216.00, moved up to an intra-day high of 221.70, declined to an intra-day low of 214.65 and closed at 216.75.

Review/Outlook - The scrip has reflected weakness by depreciating from its intra-day high and with the indicators looking negative, a further downside 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.