Stock picks of the day

The market has staged a good comeback from lower levels and has finally ended the day in positive territory. Metals, IT, Consumer Durables, Auto Banks, FMCG, Pharma, Oil & PSU's have ended positive in varying degrees while the Capital Goods sector has ended in negative territory. Volume registered a nominal increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)                                                                     

Last Close - 11660.79 | Support - 11618, 11536 | Resistance - 11707, 11826

Trading Range - The Sensex opened at 11564.95, moved up to an intra-day high of 11671.80, declined to an intra-day low of 11444.18 and closed at 11660.79.

Review/Outlook - The Sensex has staged a smart recovery to basically come off its intra-day low (after a lot of volatile movements) to end sharply in positive territory by giving an upward key reversal on the daily chart on wafer-thin higher volume. An intra-day upside above the 11672 level cannot be ruled out while a virtual roadblock comes in at the 11756 level thereby putting a question mark on the sustainability of the move.           

Shaw Wallace (Daily)                                                

Last Close - 147.05 | Support - 140, 121 | Resistance - 173, 197

Trading Range - The scrip opened at 135.95, moved up to an intra-day high of 148.40, declined to an intra-day low of 132.50 and closed at 147.05.

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. 

Sical Log. (Daily)                                                

Last Close - 280.00 | Support - 264, 206 | Resistance - 301, 383

Trading Range - The scrip opened at 269.40, moved up to an intra-day high of 280.00, declined to an intra-day low of 263.50 and closed at 280.00.

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.

Eastern Silk (Daily)                                        

Last Close - 218.45 | Support - 212, 180 | Resistance - 223, 256

Trading Range - The scrip opened at 206.50, moved up to an intra-day high of 218.45, declined to an intra-day low of 203.20 and closed at 218.45.

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.

Rpg Transm. (Daily)                                              

Last Close - 147.65 | Support - 142, 108 | Resistance - 157, 183 

Trading Range - The scrip opened at 142.50, moved up to an intra-day high of 147.65, declined to an intra-day low of 134.25 and closed at 147.65.

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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