Stock picks of the day

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Healthcare, Consumer Durables, IT, Auto, Metals, PSU, Oil & Capital Goods have ended positive in varying degrees while FMCG has ended in negative territory. Volume registered a clear increase (read as turnover) while the undertone seemed upbeat.

Sensex

Last Close - 13384.08 | Support - 13296, 13135 | Resistance - 13390, 13461

Trading Range - The Sensex opened at 13163.02, moved up to an intra-day high of 13421.05, declined to an intra-day low of 13119.88, and closed at 13384.08.

Review/Outlook - The Sensex has reflected some amount of strength by posting a 1 ½ month high, has come off from its intra-day low and has breached the 13400 level from an intra-day point of view to end positive on noticeably higher volume. Volatility can be the order of the day; an intra-day upside above the 13421 level seems like a strong possibility while some amount of resistance can be expected at higher levels, the upmove has got more broad based. The outlook seems to be turning better again while resistance comes in at the 13600+ level and support comes in at the 13188 level.

Pudumjee Pulp

Last Close - 105.60 | Support - 090, 069 | Resistance - 123, 039

Trading Range - The scrip opened at 100.00, moved up to an intra-day high of 105.60, declined to an intra-day low of 100.00 and closed at 105.60.

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.

Indian Hume Pipe

Last Close - 442.15 | Support - 426, 380 | Resistance - 450, 500

Trading Range - The scrip opened at 433.70, moved up to an intra-day high of 442.15, declined to an intra-day low of 422.20 and closed at 442.15.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Sonata Softw

Last Close - 064.40 | Support - 063, 054 | Resistance - 066, 075

Trading Range - The scrip opened at 062.00, moved up to an intra-day high of 064.40, declined to an intra-day low of 062.00 and closed at 064.40.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Tulip IT

Last Close - 687.65 | Support - 650, 600 | Resistance - 700, 750

Trading Range - The scrip opened at 629.00, moved up to an intra-day high of 687.65, declined to an intra-day low of 626.00 and closed at 687.65.

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.

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.