Stock picks of the day

The market has staged a pleasantly surprising recovery and has bounced back smartly from lower levels to end in positive territory. Banks, Capital Goods, Pharma, Consumer Durables, FMCG, IT and PSU's have all ended positive in varying degrees while no sector has ended in negative territory. Volume registered a sharp increase (read as turnover) while the undertone seemed positive.

Sensex (Daily)

Last Close - 8072.75 | Support - 7983, 7843 | Resistance - 8083, 8144

Trading Range - The Sensex opened at 7953.28, moved up to an intra-day high of 8086.84, declined to an intra-day low of 7891.23 and closed at 8072.75.

Review/Outlook - The Sensex has shown near term strength by not only giving an upward "bar reversal" (bullish signal) on the daily chart but has also closed above the 55 Day Moving Average which is placed at 8034. A further upside cannot be ruled out while intra-day resistance comes in at the 8102 level.

Nesco Ltd (Daily)

Last Close - 582.10 | Support - 550, 483 | Resistance - 613, 650

Trading Range - The scrip opened at 582.10, moved up to an intra-day high of 582.10, declined to an intra-day low of 570.00 and closed at 582.10.

Review/Outlook - The scrip has reflected strength by appreciating with an upward gap and with the indicators looking positive, a further upside seems to be on the cards.

SIEL Limited (Daily)

Last Close - 069.55 | Support - 060, 049 | Resistance - 080, 092

Trading Range - The scrip opened at 063.00, moved up to an intra-day high of 069.55, declined to an intra-day low of 063.00 and closed at 069.55.

Review/Outlook - The scrip has reflected strength by appreciating from open to close and with the indicators looking positive, a further upside seems to be on the cards.

Bank of Baroda (Daily)

Last Close - 217.45 | Support - 206, 190 | Resistance - 220, 230

Trading Range - The scrip opened at 216.10, moved up to an intra-day high of 218.45, declined to an intra-day low of 211.15 and closed at 217.45.

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.

Satyam Comp. (Daily)

Last Close - 627.60 | Support - 616, 580 | Resistance - 645, 700

Trading Range - The scrip opened at 612.00, moved up to an intra-day high of 630.00, declined to an intra-day low of 604.00 and closed at 627.60.

Review/Outlook - The scrip has reflected strength after receiving support from the 616 level 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.