Stock picks for today

The market has staged a smart recovery from lower levels and has ended the day clearly in positive territory. Banks, Capital Goods, Auto, Metals, PSU's, FMCG, Oil, Pharma, Consumer Durables and IT have ended positive in varying degrees while no sector has ended in negative territory.

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

Sensex

Last Close -- 10040.14; Support -- 10020, 9946; Resistance -- 10192, 10305

Trading Range: The Sensex opened at 9828.93, moved up to an intra-day high of 10054.05, declined to an intra-day low of 9752.65 and closed at 10040.14.

Review/Outlook: The Sensex has managed to sustain itself at higher levels and has finally managed to cross the previous two day's trading range (read as intra-day highs) 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 10054 level while it needs to sustain above the 9946 level.

Lok Hous.

Support -- 242, 209; Resistance -- 281, 365

Trading Range: The scrip opened at 244.45, moved up to an intra-day high of 252.00, declined to an intra-day low of 242.00 and closed at 252.00.

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.

Torrent Cabl.

Support -- 130, 112; Resistance -- 170, 204

Trading Range: The scrip opened at 121.00, moved up to an intra-day high of 135.90, declined to an intra-day low of 121.00 and closed at 135.50.

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.

Zuari Ind.

Support -- 148, 134; Resistance -- 179, 272

Trading Range: The scrip opened at 156.55, moved up to an intra-day high of 160.20, declined to an intra-day low of 156.55 and closed at 160.20.

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.

Guj. Fluoro.

Support -- 360, 321; Resistance -- 412, 464

Trading Range: The scrip opened at 401.00, moved up to an intra-day high of 408.70, declined to an intra-day low of 401.00 and closed at 406.10.

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.