Stock picks of the day

The market has had a volatile trading session to basically recover from lower levels and has finally ended the day sharply in positive territory. Banks, Consumer Durables, Auto, PSU, Pharma, Capital Goods, IT, Oil, FMCG and Metals have 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 upbeat.

Sensex (Daily)

Last Close - 10930.09 | Support - 10884, 10740 | Resistance - 10947, 11052

Trading Range - The Sensex opened at 10604.64, moved up to an intra-day high of 10939.68, declined to an intra-day low of 10549.85 and closed at 10930.09.

Review/Outlook - The Sensex has reflected surprising amount of strength and resilience to come within striking distance of posting a 32 trading session high and has once again rebounded after taking support on the 55 Day EMA on significantly higher volume. The outlook seems to be improving again and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside (seems like a distinct possibility) could come in above the 10940 level while intra-day resistance comes in at the 11000+ level.                                      

Ansal Infra. (Daily) 

Last Close - 431.75 | Support - 411, 341 | Resistance - 455, 500

Trading Range - The scrip opened at 403.00, moved up to an intra-day high of 431.75, declined to an intra-day low of 402.35 and closed at 431.75.

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. 

Dalmia Cement. (Daily)

Last Close - 273.30 | Support - 268, 203 | Resistance - 276, 304

Trading Range - The scrip opened at 260.00, moved up to an intra-day high of 273.30, declined to an intra-day low of 252.50 and closed at 273.30.

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.      

Eimco Elecon. (Daily)

Last Close - 255.80 | Support - 237, 218 | Resistance - 274, 332

Trading Range - The scrip opened at 248.00, moved up to an intra-day high of 255.80, declined to an intra-day low of 241.00 and closed at 255.80.

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.      

Kesar Enterp. (Daily)

Last Close - 120.35 | Support - 113, 095 | Resistance - 141, 178 

Trading Range - The scrip opened at 108.00, moved up to an intra-day high of 120.50, declined to an intra-day low of 108.00 and closed at 120.35.

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.

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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