Stock picks of the day

The market has remained a bit volatile, after moving both sides and has finally ended the day in positive territory. Capital Goods, IT, Metals, Auto Banks, FMCG, Pharma, Oil & PSU's have ended positive in varying degrees while Consumer Durables have ended in negative territory. Volume registered a marginal increase (read as turnover) while the undertone seemed upbeat.

Sensex (Daily)                                                                    

Last Close - 11973.02 | Support - 11931, 11826 | Resistance - 12054, 12104

Trading Range - The Sensex opened at 11936.80, moved up to an intra-day high of 12003.68, declined to an intra-day low of 11892.24 and closed at 11973.02.

Review/Outlook - The Sensex has finally managed to touch the psychologically important level of 12000 from an intra-day point of view but still hasn't been able to close above it. The Sensex has run into some resistance from its earlier high and one would need to observe caution at higher levels while any early upside could find sustainability a key issue but a close above the 12000 level today could do a world of good for the Sensex.

Unitech Ltd (Daily)                                                

Last Close - 270.00 | Support - 236, 210 | Resistance - 304, 343

Trading Range - The scrip opened at 262.00, moved up to an intra-day high of 270.00, declined to an intra-day low of 261.45 and closed at 270.00.

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. 

Kinetic Eng. (Daily)                                                 

Last Close - 149.40 | Support - 140, 118 | Resistance - 165, 198

Trading Range - The scrip opened at 148.00, moved up to an intra-day high of 149.40, declined to an intra-day low of 143.00 and closed at 149.40.

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.

Rpg Life Sc. (Daily)                                        

Last Close - 142.00 | Support - 135, 115 | Resistance - 153, 172

Trading Range - The scrip opened at 130.00, moved up to an intra-day high of 142.00, declined to an intra-day low of 128.20 and closed at 142.00.

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. (Daily)                                             

Last Close - 288.85 | Support - 280, 259 | Resistance - 321, 380 

Trading Range - The scrip opened at 277.00, moved up to an intra-day high of 288.85, declined to an intra-day low of 277.00 and closed at 288.85.

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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Sebi Disclosure: The author is an active market participant and could even be having contrary positions in the stocks mentioned above.
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