Stock picks of the day

The market has had a volatile trading session to basically decline then recover from lower levels and has finally ended the day sharply in positive territory. Banks, IT, Auto, PSU, Capital Goods and Oil have ended positive in varying degrees while Consumer Durables, FMCG, Pharma and the Metal sector have ended in negative territory. Volume registered a marginal increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close - 10215.37 | Support - 10192, 10020 | Resistance - 10305, 10424

Trading Range - The Sensex opened at 10042.47, moved up to an intra-day high of 10252.75, declined to an intra-day low of 09875.35 and closed at 10215.37.

Review/Outlook - The Sensex has staged a smart recovery from deep within the negative territory after taking support on the 200 Day EMA and has rallied to end sharply in positive territory but this time around on marginally higher volume. The outlook has come under pressure again and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10253 level while intra-day resistance comes in at the 10410-10440 levels.       

Areva Ltd. (Daily)

Last Close - 430.50 | Support - 514, 443 | Resistance - 554, 682

Trading Range - The scrip opened at 502.95, moved up to an intra-day high of 530.50, declined to an intra-day low of 480.00 and closed at 530.50.

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. 

Zenith Infotech. (Daily)

Last Close - 176.60 | Support - 175, 148 | Resistance - 200, 250

Trading Range - The scrip opened at 162.00, moved up to an intra-day high of 176.60, declined to an intra-day low of 159.80 and closed at 176.60.

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.       

Patel Engg. (Daily)

Last Close - 239.95 | Support - 228, 196 | Resistance  - 289, 361

Trading Range - The scrip opened at 224.50, moved up to an intra-day high of 239.95, declined to an intra-day low of 222.00 and closed at 239.95.

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.        

Revathi Equip. (Daily)

Last Close - 550.20 | Support - 504, 457 | Resistance - 590, 668 

Trading Range - The scrip opened at 505.00, moved up to an intra-day high of 550.20, declined to an intra-day low of 504.00 and closed at 550.20.

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.

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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