Stock picks for the day

The market has run into renewed selling pressure at higher levels to end barely in negative territory. The consumer durables, IT and the PSU sector have ended positive while banks, capital goods, FMCG and the pharma sectors have all ended in negative territory in varying degrees.

Volume registered a sharp increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)
Last Close – 8815.53; Support – 8772, 8726; Resistance – 8822, 8960

Trading Range The Sensex opened at 8827.00, moved up to an intra-day high of 8915.12, declined to an intra-day low of 8783.93 and closed at 8815.53.

Review/Outlook The Sensex has reflected some amount of indecision by almost staying within the previous day's trading range and while this range bound movement can spillover to today's trading session also intra-day weakness below the 8768 level cannot be ruled out while the 9000 level is expected to be a trend decider for the time being.

Morarjee Realty (Daily)
Last Close – 232.70; Support – 225, 205; Resistance – 248, 278

Trading Range The scrip opened at 221.95, moved up to an intra-day high of 232.70, declined to an intra-day low of 221.95 and closed at 232.70.

Review/Outlook The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards.

Cyber Media (Daily)
Last Close – 120.25; Support – 116, 100; Resistance – 134, 169

Trading Range: The scrip opened at 115.45, moved up to an intra-day high of 120.25, declined to an intra-day low of 115.45 and closed at 120.25.

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.

Uni-Abex Alloy (Daily)
Last Close – 147.90; Support – 145, 124; Resistance – 163, 195

Trading Range: The scrip opened at 144.90, moved up to an intra-day high of 148.50, declined to an intra-day low of 139.25 and closed at 147.90.

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.

Ashapura Mine (Daily)
Last Close – 792.80; Support – 771, 751; Resistance – 852, 925

Trading Range: The scrip opened at 774.40, moved up to an intra-day high of 792.80, declined to an intra-day low of 768.00 and closed at 792.80.

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.

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