Stock picks of the day

The market has had a volatile trading session to basically move up from open to close and has finally ended the day sharply in positive territory. Banks, Consumer Durables, FMCG, Pharma, Metal, IT, Auto, PSU, Capital Goods and Oil have ended positive in varying degrees while no sector have ended in negative territory. Volume registered a marginal decrease (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 10617.27 | Support - 10556, 10424 | Resistance - 10662, 10740

Trading Range - The Sensex opened at 10465.34, moved up to an intra-day high of 10648.77, declined to an intra-day low of 10362.61 and closed at 10617.27.

Review/Outlook - The Sensex has reflected surprising near term strength to end sharply in positive territory after facing some resistance from the 55 Day EMA and has finally closed above it on lower volume. The outlook has seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10649 level while intra-day resistance comes in at the 10704 level.        

Dalmia Cement. (Daily)

Last Close - 252.60 | Support - 235, 203 | Resistance - 268, 304

Trading Range - The scrip opened at 242.00, moved up to an intra-day high of 252.60, declined to an intra-day low of 241.10 and closed at 252.60.

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. 

Zenith Infotech. (Daily)

Last Close - 194.65 | Support - 175, 148 | Resistance - 200, 250

Trading Range - The scrip opened at 191.40, moved up to an intra-day high of 194.65, declined to an intra-day low of 191.40 and closed at 194.65.

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.      

Patel Engg. (Daily)

Last Close - 262.35 | Support - 228, 196 | Resistance - 289, 361

Trading Range - The scrip opened at 264.45, moved up to an intra-day high of 264.45, declined to an intra-day low of 257.00 and closed at 262.35.

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.        

Revathi Equip. (Daily)

Last Close - 606.55 | Support - 590, 504 | Resistance - 668, 748 

Trading Range - The scrip opened at 592.25, moved up to an intra-day high of 606.55, declined to an intra-day low of 570.10 and closed at 606.55.

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.