Stock picks for today

The market has moved up smartly and has ended the day clearly in positive territory. Capital Goods, Auto, Metals, PSUs, FMCG, Oil, Pharma, Consumer Durables and IT have ended positive in varying degrees while Banks have ended in negative territory.

Volume registered a noticeable decrease (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close -- 9997.84; Support -- 9946, 9880; Resistance -- 10020, 10192

Trading Range -- The Sensex opened at 9903.11, moved up to an intra-day high of 10049.94, declined to an intra-day low of 9755.21 and closed at 9997.84.

Review/Outlook -- The Sensex has staged a smart recovery but has surprisingly enough remained within the previous day's trading range to end sharply in positive territory but on clearly lower volume. The outlook remains hazy and despite the extreme volatility, a range bound movement cannot be ruled out while an intra-day upside could come in only above the 10020 & the 10050 level but sustainability still remains the key issue.

Kinetic Eng. (Daily)

Last Close -- 131.80; Support -- 118, 090; Resistance -- 140, 165

Trading Range -- The scrip opened at 121.65, moved up to an intra-day high of 131.90, declined to an intra-day low of 121.25 and closed at 131.80.

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 -- 282.60; Support -- 280, 258; Resistance -- 311, 375

Trading Range -- The scrip opened at 272.05, moved up to an intra-day high of 285.80, declined to an intra-day low of 265.10 and closed at 282.60.

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.

Mangalam Cem. (Daily)

Last Close -- 140.60; Support -- 117, 096; Resistance -- 141, 175

Trading Range -- The scrip opened at 135.00, moved up to an intra-day high of 140.60, declined to an intra-day low of 130.50 and closed at 140.60.

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.

KSB Pumps. (Daily)

Last Close -- 414.50; Support -- 381, 352; Resistance -- 423, 464

Trading Range -- The scrip opened at 404.95, moved up to an intra-day high of 414.50, declined to an intra-day low of 401.10 and closed at 414.50.

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.