Stock picks of the day

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in positive territory. Banks, Metals, Oil, Consumer Durables Healthcare, PSU, Auto, IT & Capital Goods have ended positive in varying degrees while the FMCG sector have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed hopeful.

Sensex

Last Close - 14535.01 | Support - 14524, 14454 | Resistance - 14620, 14723

Trading Range - The Sensex opened at 14514.20, moved up to an intra-day high of 14571.31, declined to an intra-day low of 14462.67 and closed at 14535.01.

Review/Outlook - The Sensex has reflected some amount of strength, has had a rather positive opening, but has still recovered after receiving significant buying support to come off from its intra- day low and has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems to be a possibility) could come in above the 14571 level while some resistance at higher levels (14682) - could limit the upside. The outlook seems to have turned better again while resistance comes in at the 14700+ level and support comes in at the 14040 level.

Asian Elect

Last Close - 647.70 | Support - 625, 597 | Resistance - 650, 700

Trading Range - The scrip opened at 637.50, moved up to an intra-day high of 666.00, declined to an intra-day low of 625.25 and closed at 647.70.

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.

Shreeram Mills

Last Close - 367.85 | Support - 359, 319 | Resistance - 385, 440

Trading Range - The scrip opened at 352.00, moved up to an intra-day high of 367.85, declined to an intra-day low of 335.30 and closed at 367.85.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Ok Play Ind

Last Close - 134.75 | Support - 129, 106 | Resistance - 142, 171

Trading Range - The scrip opened at 127.15, moved up to an intra-day high of 135.25, declined to an intra-day low of 125.35 and closed at 134.75.

Review/Outlook - The scrip has reflected reflected strength by recovering from its intra-day low and with the indicators looking positive, a further upside seems to be on the cards.

Sparsh Bpo

Last Close - 205.00 | Support - 186, 171 | Resistance - 209, 228

Trading Range - The scrip opened at 196.25, moved up to an intra-day high of 205.00, declined to an intra-day low of 191.50 and closed at 205.00.

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.

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.