Stock picks of the day

The market has bounced back smartly from lower levels to end sharply in positive territory. Banks, Consumer Durables, Capital Goods, FMCG, IT, Pharma and the PSU sector have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a significant increase (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 9283.16 | Support - 9274, 9176 | Resistance - 9348, 9418

Trading Range - The Sensex opened at 9071.25, moved up to an intra-day high of 9297.07, declined to an intra-day low of 9020.80 and closed at 9283.16.

Review/Outlook - The Sensex has staged a fantastic recovery to give an upward bar reversal on clearly higher volume on the daily chart. The Sensex seems to have taken support on the 9034 level and has virtually wiped off the entire loss of the previous trading session. The outlook is cautiously optimistic, as further volatility cannot be ruled out.

Garden Silk. (Daily)

Last Close - 065.80 | Support - 065, 054 | Resistance – 070, 087 

Trading Range - The scrip opened at 061.80, moved up to an intra-day high of 065.80, declined to an intra-day low of 059.75 and closed at 065.80.

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. 

Dolphin Off. (Daily)

Last Close - 370.55 | Support - 363, 329 | Resistance - 372, 444

Trading Range - The scrip opened at 355.00, moved up to an intra-day high of 370.55, declined to an intra-day low of 347.00 and closed at 370.55.

Review/Outlook - The scrip has reflected strength by moving up virtually from open to close and with the indicators looking positive, a further upside seems to be on the cards. 

JM Financial. (Daily)

Last Close - 436.45 | Support - 419, 364 | Resistance - 455, 509

Trading Range - The scrip opened at 415.00, moved up to an intra-day high of 436.45, declined to an intra-day low of 411.10 and closed at 436.45.

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.  

Asian Electronics (Daily)

Last Close - 365.45 | Support - 352, 319 | Resistance - 381, 423 

Trading Range - The scrip opened at 350.00, moved up to an intra-day high of 365.45, declined to an intra-day low of 345.05 and closed at 365.45.

Review/Outlook - The scrip has reflected strength by virtually moving up from open to close 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.