Stock picks for today

The market has recovered smartly from its intra-day low to end sharply in positive territory. Banks, capital goods, FMCG, pharma, IT and the PSU sectors have all ended positive in varying degrees, while the consumer durables sector has ended in negative territory.

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

Sensex (Daily)

Last Close -- 9263.90; Support -- 9176, 9100; Resistance -- 9348, 9400

Trading Range: The Sensex opened at 9160.76, moved up to an intra-day high of 9274.19, declined to an intra-day low of 9111.03 and closed at 9263.90.

Review/Outlook: The Sensex continues to reflect a significant amount of resilience, has gone on to post a fresh all time high and once again has closed at an all time high that too on significantly higher volume. The outlook continues to remain positive while intra-day support comes in at the 9176 level.

Sakthi Sugar. (Daily)

Last Close -- 106.45; Support -- 100, 086; Resistance -- 120, 150

Trading Range: The scrip opened at 100.50, moved up to an intra-day high of 108.25, declined to an intra-day low of 098.50 and closed at 106.45.

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.

ITD Cementation (Daily)

Last Close -- 683.90; Support -- 670, 618; Resistance -- 700, 761

Trading Range: The scrip opened at 683.00, moved up to an intra-day high of 683.90, declined to an intra-day low of 670.00 and closed at 683.90.

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.

Bharat Bijli (Daily)

Last Close -- 694.60; Support -- 674, 618; Resistance -- 725, 800

Trading Range: The scrip opened at 670.00, moved up to an intra-day high of 694.60, declined to an intra-day low of 656.65 and closed at 694.60.

Review/Outlook: The scrip has reflected strength by posting a fresh all time high and with the indicators looking positive, a further upside seems to be on the cards.

Galaxy Ent. (Daily)

Last Close -- 256.35; Support -- 248, 219; Resistance -- 267, 318

Trading Range: The scrip opened at 243.25, moved up to an intra-day high of 256.35, declined to an intra-day low of 235.00 and closed at 256.35.

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.

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.