Stock picks of the day

The market has come under severe pressure after facing resistance at higher levels to end sharply in negative territory. Banks, Capital Goods, Pharma, Consumer Durables, FMCG, IT and PSU's have all ended negative in varying degrees while no sector has ended in positive territory. Volume registered a decrease (read as turnover) while the undertone seemed panicky.

Sensex (Daily)                                                                                 

Last close -- 7685.64 | Support -- 7681, 7532 | Resistance -- 7735, 7790

Trading Range -- The Sensex opened at 7795.03, moved up to an intra-day high of 7795.03, declined to an intra-day low of 7656.15 and closed at 7685.64.

Review/Outlook -- The Sensex continues its downward journey and still shows no signs of any respite. The outlook hasn't changed much and a further downside from these levels cannot be ruled out but the low volume decline (on Friday) might mean a minor recovery.  

BHEL (Daily)

Last Close -- 1089.65 | Support -- 1068, 1016 | Resistance -- 1104, 1165

Trading Range -- The scrip opened at 1105.00, moved up to an intra-day high of 1119.70, declined to an intra-day low of 1080.00 and closed at 1089.65.

Review/Outlook -- The scrip has reflected weakness by depreciating to post a 23 trading session low and with the indicators looking negative, a further downside seems to be on the cards. 

BF Utilities (Daily)

Last Close -- 388.35 | Support -- 376, 325 | Resistance -- 408, 438

Trading Range -- The scrip opened at 404.00, moved up to an intra-day high of 404.00, declined to an intra-day low of 388.35 and closed at 388.35.

Review/Outlook -- The scrip has reflected strength by depreciating from open to close and with the indicators looking negative, a further downside seems to be on the cards. 

Sadhana Nitrochem (Daily)

Last Close -- 107.45 | Support -- 105, 096 | Resistance -- 114, 121

Trading Range -- The scrip opened at 112.50, moved up to an intra-day high of 114.00, declined to an intra-day low of 107.40 and closed at 107.45.

Review/Outlook -- The scrip has reflected weakness by depreciating with a downward gap and with the indicators looking negative, a further downside seems to be on the cards.  

RIL (Daily)                                                              

Last Close -- 741.25 | Support -- 740, 713 | Resistance -- 780, 800

Trading Range -- The scrip opened at 753.00, moved up to an intra-day high of 758.00, declined to an intra-day low of 737.05 and closed at 741.25.

Review/Outlook -- The scrip has reflected weakness after facing resistance from the 758 level and with the indicators looking negative, a further downside 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.