Stock picks for today

The market has found life quite difficult and rather unsustainable at higher levels and has ended in negative territory. Banks, consumer durables, capital goods, FMCG, IT, pharma and the PSU sectors have ended negative in varying degrees while no sector has ended in positive territory.

Volume registered a small decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)                                                                    

Last Close -- 9256.91; Support -- 9176, 9113; Resistance -- 9274, 9348

Trading Range: The Sensex opened at 9417.29, moved up to an intra-day high of 9442.98, declined to an intra-day low of 9237.94 and closed at 9256.91.

Review/Outlook: The Sensex has reflected some amount of weakness by giving a downward bar reversal (but on lower volume) to end sharply in negative territory. Despite multiple attempts, the Sensex hasn't been able to close above the 9400+ levels and a decisive close above the 9400+ levels is a must for a further upside to unfold. Intra-day weakness below the 9237 level cannot be ruled out.

Prime Prop. (Daily)                                                 

Last Close -- 159.50; Support -- 142, 122; Resistance -- 161, 199 

Trading Range -- The scrip opened at 172.90, moved up to an intra-day high of 173.90, declined to an intra-day low of 159.50 and closed at 159.50.

Review/Outlook -- The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards. 

Atul Auto (Daily)                   

Last Close -- 165.35; Support -- 164, 140; Resistance -- 182, 200

Trading Range -- The scrip opened at 173.50, moved up to an intra-day high of 173.50, declined to an intra-day low of 165.35 and closed at 165.35.

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

Birla Kennametal (Daily)   

Last Close -- 164.85; Support -- 147, 094; Resistance -- 200, 250

Trading Range -- The scrip opened at 156.00, moved up to an intra-day high of 164.85, declined to an intra-day low of 155.00 and closed at 164.85.

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.  

Shalimar Paints (Daily)                 

Last Close -- 161.10; Support -- 149, 128; Resistance -- 166, 200 

Trading Range -- The scrip opened at 161.10, moved up to an intra-day high of 161.10, declined to an intra-day low of 151.00 and closed at 161.10.

Review/Outlook -- The scrip has reflected strength by recovering smartly 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.