Stock picks of the day

The market has received support at lower levels, has come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Auto, Metals, Capital Goods, Oil & PSU's have ended negative in varying degrees while FMCG, Healthcare, Banks & IT have ended in positive territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed cautious.

Sensex (Daily)

Last Close - 13696.31 | Support - 13652, 13576 | Resistance - 13723, 13790

Trading Range - The Sensex opened at 13630.90, moved up to an intra-day high of 13745.16, declined to an intra-day low of 13630.58 and closed at 13696.31.

Review/Outlook - The Sensex has reflected surprising resilience to open with an upward gap, staged an intra-day upmove virtually from open to close and has finally ended in positive territory on distinctly higher volume. A range bound movement seems to be on the cards while an intra-day upside cannot be ruled out but only above the 13745 level while intra-day support comes in at the 13651 level indicating a limited downside.  

Indian Hume Pipes. (Daily)

Last Close - 383.00 | Support - 380, 321 | Resistance - 426, 450

Trading Range - The scrip opened at 383.00, moved up to an intra-day high of 383.00, declined to an intra-day low of 375.00 and closed at 383.00.

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. 

Flex Engg. (Daily)

Last Close - 039.75 | Support - 036, 027 | Resistance - 042, 053

Trading Range - The scrip opened at 037.80, moved up to an intra-day high of 040.10, declined to an intra-day low of 037.00 and closed at 039.75.

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.

Eimco Elec. (Daily)

Last Close - 351.55 | Support - 332, 274 | Resistance - 380, 444

Trading Range - The scrip opened at 346.00, moved up to an intra-day high of 354.00, declined to an intra-day low of 330.00 and closed at 351.55.

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.

Sagar Cement. (Daily)

Last Close - 120.25 | Support - 116, 091 | Resistance - 126, 151

Trading Range - The scrip opened at 118.00, moved up to an intra-day high of 120.25, declined to an intra-day low of 112.10 and closed at 120.25.

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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