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 has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 10741.59 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10671.77, moved up to an intra-day high of 10762.67, declined to an intra-day low of 10589.68 and closed at 10741.59.

Review/Outlook - The Sensex has reflected surprising near term strength to end sharply in positive territory after managing to sustain above the 55 Day EMA and has once again closed above it on higher 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 10763 level while intra-day resistance comes in at the 10940 level.          

Dalmia Cement. (Daily)

Last Close - 265.20 | Support - 235, 203 | Resistance - 268, 304

Trading Range - The scrip opened at 265.20, moved up to an intra-day high of 265.20, declined to an intra-day low of 259.65 and closed at 265.20.

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. 

Godrej Ind. (Daily)

Last Close - 436.30 | Support - 423, 383 | Resistance - 474, 543

Trading Range - The scrip opened at 415.95, moved up to an intra-day high of 436.30, declined to an intra-day low of 415.95 and closed at 436.30.

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.      

Bombay Burmah. (Daily)

Last Close - 252.60 | Support - 242, 216 | Resistance - 265, 315

Trading Range - The scrip opened at 246.00, moved up to an intra-day high of 252.60, declined to an intra-day low of 242.00 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.        

Revathi Equip. (Daily)

Last Close - 636.85 | Support - 590, 504 | Resistance - 668, 748 

Trading Range - The scrip opened at 636.85, moved up to an intra-day high of 636.85, declined to an intra-day low of 620.15 and closed at 636.85.

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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