Stock picks of the day

The market has staged a smart recovery from its intra-day lows to end sharply in positive territory. Banks, capital goods, consumer durables, FMCG, IT and PSU have all ended positive in varying degrees while the pharma sector has ended in negative territory. Volume registered a mild decrease (read as turnover) while the undertone seemed optimistic.

Sensex (Daily)

Last Close - 8638.34 | Support - 8520, 8446 | Resistance - 8648, 8726

Trading Range - The Sensex opened at 8542.61, moved up to an intra-day high of 8649.68, declined to an intra-day low of 8537.48 and closed at 8638.34.

Review/Outlook - The Sensex's has staged a slightly surprising recovery and has virtually moved up from open to close, yesterday but has remained within the previous day's trading range. The closing would seem to suggest a spillover of this positive momentum today indicating the possibility of a further upside while intra-day resistance comes in at the 8676 level.        

Shriram Invest. (Daily)

Last Close - 096.45 | Support - 094, 087 | Resistance - 099, 111

Trading Range - The scrip opened at 092.80, moved up to an intra-day high of 096.45, declined to an intra-day low of 092.80 and closed at 096.45.

Review/Outlook - The scrip has reflected strength by closing above the 55 Day Moving Average and with the indicators looking positive, a further upside seems to be on the cards. 

Ador Welding. (Daily)

Last Close - 398.20 | Support - 375, 350 | Resistance - 425, 450

Trading Range - The scrip opened at 395.50, moved up to an intra-day high of 398.20, declined to an intra-day low of 395.50 and closed at 398.20.

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. 

Wipro (Daily)

Last Close - 431.35 | Support - 414, 388 | Resistance - 439, 464

Trading Range - The scrip opened at 418.00, moved up to an intra-day high of 434.00, declined to an intra-day low of 418.00 and closed at 431.35.

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.  

India Cement (Daily)

Last Close - 101.25 | Support - 099, 090 | Resistance - 106, 115 

Trading Range - The scrip opened at 100.05, moved up to an intra-day high of 101.95, declined to an intra-day low of 099.35 and closed at 101.25.

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.

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.