Stock pick of the day

The market has not been able to sustain itself after facing selling pressure at higher levels to end moderately 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 decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close - 7944.10 | Support - 7843, 7790 | Resistance - 7983, 8083

Trading Range - The Sensex opened at 7989.86, moved up to an intra-day high of 8023.52, declined to an intra-day low of 7914.77 and closed at 7944.10.

Review/Outlook - The Sensex been able to sustain itself at higher levels while the outlook hasn't changed much. A range bound movement today with an upward bias cannot be ruled out and for any significant upside to materialise, the Sensex will have to sustain above the 8024 level.

Nesco Ltd (Daily)

Last Close - 554.40 | Support - 550, 483 | Resistance - 613, 650

Trading Range - The scrip opened at 554.40, moved up to an intra-day high of 554.40, declined to an intra-day low of 554.40 and closed at 554.40.

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.

Denison Hydro (Daily)

Last Close - 266.15 | Support - 260, 240 | Resistance - 285, 300

Trading Range - The scrip opened at 252.25, moved up to an intra-day high of 266.15, declined to an intra-day low of 252.25 and closed at 266.15.

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.

Nandan Exim (Daily)

Last Close - 117.00 | Support - 110, 091 | Resistance - 128, 143

Trading Range - The scrip opened at 110.00, moved up to an intra-day high of 117.00, declined to an intra-day low of 110.00 and closed at 117.00.

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.

Ushdev Intnl (Daily)

Last Close - 061.90 | Support - 060, 054 | Resistance - 073, 086

Trading Range - The scrip opened at 061.75, moved up to an intra-day high of 062.70, declined to an intra-day low of 058.60 and closed at 061.90.

Review/Outlook - The scrip has reflected strength after receiving support from the 060 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.