Stock picks for today

The market has run into selling pressure at higher levels and has ended the day clearly in negative territory. Banks, Capital Goods, Auto, Metals, PSUs, FMCG, Oil, Pharma, Consumer Durables and IT have ended negative in varying degrees while no sector has ended in positive territory.

Volume registered a noticeable increase (read as turnover) while the undertone seemed neutral.

Sensex (Daily)

Last Close -- 9822.52; Support -- 9820, 9456; Resistance -- 9880, 9946

Trading Range -- The Sensex opened at 9958.33, moved up to an intra-day high of 9958.33, declined to an intra-day low of 9745.17 and closed at 9822.52.

Review/Outlook -- The Sensex hasn't been able to sustain itself at higher levels but has surprisingly enough remained (almost) within the previous two day's trading range to end sharply in negative territory but on clearly higher 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 9946 & the 10020 level but sustainability still remains the key issue.

Kinetic Eng. (Daily)

Last Close -- 137.85; Support -- 118, 090; Resistance -- 140, 165

Trading Range -- The scrip opened at 132.00, moved up to an intra-day high of 138.35, declined to an intra-day low of 131.95 and closed at 137.85.

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.

TRF Limited. (Daily)

Last Close -- 290.90; Support -- 280, 258; Resistance -- 311, 375

Trading Range -- The scrip opened at 270.25, moved up to an intra-day high of 296.70, declined to an intra-day low of 270.10 and closed at 290.90.

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.

Zuari Ind. (Daily)

Last Close -- 152.60; Support -- 148, 134; Resistance -- 179, 272

Trading Range -- The scrip opened at 143.90, moved up to an intra-day high of 152.60, declined to an intra-day low of 140.55 and closed at 152.60.

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.

Guj. Fluoro. (Daily)

Last Close -- 389.25; Support -- 360, 321; Resistance -- 412, 464

Trading Range -- The scrip opened at 360.00, moved up to an intra-day high of 389.25, declined to an intra-day low of 359.50 and closed at 389.25.

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.

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.