Stock picks for today

The market has moved up virtually from open to close and has ended sharply in positive territory. Banks, capital goods, consumer durables, FMCG, pharma, IT and the PSU sectors have all ended positive in varying degrees while no sector has ended in negative territory.

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

Sensex (Daily)

Last Close -- 9067.28; Support -- 9034, 8960; Resistance -- 9100, 9200

Trading Range: The Sensex opened at 8907.72, moved up to an intra-day high of 9080.76, declined to an intra-day low of 8907.72 and closed at 9067.28.

Review/Outlook: The Sensex has reflected significant amount of strength as it has finally closed above the 9000 level after multiple attempts on extremely high volume. The outlook has once again turned positive and while a further upside seems like a distinct possibility, the 9000 level followed by the 8772 level would act as solid support levels.

Aegis Logistics (Daily)

Last Close -- 313.15; Support -- 292, 260; Resistance -- 325, 375

Trading Range: The scrip opened at 309.80, moved up to an intra-day high of 313.15, declined to an intra-day low of 304.10 and closed at 313.15.

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.

Ador Welding (Daily)

Last Close -- 410.25; Support -- 403, 379; Resistance -- 439, 475

Trading Range: The scrip opened at 393.00, moved up to an intra-day high of 410.25, declined to an intra-day low of 392.40 and closed at 410.25.

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.

Ruby Mills (Daily)

Last Close -- 269.60; Support -- 256, 245; Resistance -- 286, 320

Trading Range: The scrip opened at 262.00, moved up to an intra-day high of 269.60, declined to an intra-day low of 260.10 and closed at 269.60.

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.

Kulkarni Power & Tools (Daily)

Last Close -- 103.00; Support -- 097, 080; Resistance -- 111, 133

Trading Range: The scrip opened at 097.45, moved up to an intra-day high of 103.00, declined to an intra-day low of 097.15 and closed at 103.00.

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.

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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Sebi Disclosure: The author is an active market participant and could be having positions in the stocks mentioned above.