Stock picks of the day

The market has remained relatively range bound after facing resistance at higher levels to end in negative territory. Banks, capital goods and pharma have all ended positive in varying degrees while consumer durables, FMCG, IT and PSUs have all ended in negative territory. Volume registered a marginal decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 7974.69-- Support -- 7843, 7790 -- Resistance -- 7983, 8083

Trading Range: The Sensex opened at 7996.92, moved up to an intra-day high of 8047.86, declined to an intra-day low of 7951.05 and closed at 7974.69.

Review/Outlook: The Sensex has reflected indecision by staying within the previous day's trading range while the outlook remains hazy and the upside could be capped at the 8067 level -- intra-day support comes in at the 7954 level.

Shriram Tran. Fin. Co. (Daily)

Last Close -- 099.25 -- Support -- 098, 086 -- Resistance -- 105, 113

Trading Range: The scrip opened at 096.00, moved up to an intra-day high of 099.30, declined to an intra-day low of 096.00 and closed at 099.25.

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. 

Kulk. Pow. Tools (Daily)

Last Close -- 082.30 -- Support -- 070, 058     -- Resistance -- 083, 096

Trading Range: The scrip opened at 075.00, moved up to an intra-day high of 082.85, declined to an intra-day low of 075.00 and closed at 082.30.

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.

GSK Pharma (Daily)

Last Close -- 868.75 -- Support -- 865, 823 -- Resistance -- 880, 920

Trading Range: The scrip opened at 860.00, moved up to an intra-day high of 874.80, declined to an intra-day low of 856.00 and closed at 868.75.

Review/Outlook: The scrip has reflected strength by closing in positive territory and with the indicators looking positive, a further upside seems to be on the cards.

ACC (Daily)

Last Close -- 449.35 -- Support -- 420, 398 -- Resistance -- 450, 477

Trading Range: The scrip opened at 451.20, moved up to an intra-day high of 455.00, declined to an intra-day low of 448.65 and closed at 449.35.

Review/Outlook: The scrip has reflected weakness after facing resistance from the 450 level and with the indicators looking negative, a further downside 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.