Stock picks for the day

The market has moved up virtually from open to close to end clearly in positive territory. Banks, consumer durables, FMCG, pharma, IT and the PSU sectors have all ended positive in varying degrees while it is the capital goods sector which has ended in negative territory.

Volume registered a mild decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)
Last Close – 8895.81; Support – 8822, 8772; Resistance – 8960, 9034

Trading Range: The Sensex opened at 8825.93, moved up to an intra-day high of 8915.88, declined to an intra-day low of 8825.93 and closed at 8895.81.

Review/Outlook: The Sensex has reflected some relative strength by ending in positive territory but has remained within the previous day's trading range on indifferent volume. The outlook remains hazy while a minor intra-day upside above the 8916 level cannot be ruled out and the bigger trading range comes in at the 8768 – 9000 level.

Morarjee Realty (Daily)
Last Close – 244.30; Support – 225, 205; Resistance – 248, 278

Trading Range: The scrip opened at 239.40, moved up to an intra-day high of 244.30, declined to an intra-day low of 235.00 and closed at 244.30.

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.

TIL Limited (Daily)
Last Close – 170.00; Support – 162, 144; Resistance – 194, 250

Trading Range: The scrip opened at 165.00, moved up to an intra-day high of 170.80, declined to an intra-day low of 162.10 and closed at 170.00.

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.

Kirl. Pneumatic (Daily)
Last Close – 231.95; Support – 215, 195; Resistance – 250, 300

Trading Range: The scrip opened at 221.00, moved up to an intra-day high of 231.95, declined to an intra-day low of 220.00 and closed at 231.95.

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.

TRF Limited (Daily)
Last Close – 222.70; Support – 210, 190; Resistance – 240, 300

Trading Range: The scrip opened at 213.00, moved up to an intra-day high of 222.70, declined to an intra-day low of 211.00 and closed at 222.70.

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 be having positions in the stocks mentioned above.