Stock picks for today

The market has moved up smartly but despite running into resistance at higher levels, it has managed to end 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 decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close -- 9133.67; Support -- 9100, 9034; Resistance -- 9200, 9300

Trading Range: The Sensex opened at 9092.65, moved up to an intra-day high of 9175.60, declined to an intra-day low of 9092.65 and closed at 9133.67.

Review/Outlook: The Sensex has once again created history to post a fresh all time high but has cooled off a bit from an intra-day point of view. The intra-day picture looks slightly shaky in the extreme near term and a minor intra-day downside especially below the 9112 levels cannot be ruled out.

Sakthi Sugar. (Daily)

Last Close -- 099.20; Support -- 096, 086; Resistance -- 100, 110

Trading Range: The scrip opened at 091.60, moved up to an intra-day high of 099.20, declined to an intra-day low of 091.50 and closed at 099.20.

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.

Ador Welding (Daily)

Last Close -- 430.75; Support -- 403, 379; Resistance -- 439, 475

Trading Range: The scrip opened at 412.80, moved up to an intra-day high of 430.75, declined to an intra-day low of 412.80 and closed at 430.75.

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.

Hind. Hardy (Daily)

Last Close -- 117.65; Support -- 115, 100; Resistance -- 121, 146

Trading Range: The scrip opened at 115.50, moved up to an intra-day high of 117.65, declined to an intra-day low of 112.65 and closed at 117.65.

Review/Outlook: The scrip has reflected strength by closing above the 10 Day Moving Average and with the indicators looking positive, a further upside seems to be on the cards.

Kulkarni Power & Tools (Daily)

Last Close -- 113.25; Support -- 111, 097; Resistance -- 133, 160

Trading Range: The scrip opened at 107.00, moved up to an intra-day high of 113.25, declined to an intra-day low of 107.00 and closed at 113.25.

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.

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.

DISCLAIMER: While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice.

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