Stock picks for today

The market hasn't been able to sustain itself itself at higher levels and has cooled off from its intra-day high to end in positive territory. Banks, consumer durables, IT, oil, capital goods, metals, pharma, auto and the PSU sectors have ended positive in varying degrees, while the FMCG sector has ended in negative territory.

Volume registered an insignificant decrease (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close -- 9640.29; Support -- 9600, 9500; Resistance -- 9700, 9800

Trading Range The Sensex opened at 9635.09, moved up to an intra-day high of 9680.92, declined to an intra-day low of 9535.66 and closed at 9640.29.

Review/Outlook The Sensex has faced resistance at higher levels and has once again cooled off a bit from its intra-day high to end mildly in positive territory while this cool off decline has been accompanied by decent volume. A range bound movement cannot be ruled out and it remains to be seen whether this minute correction gets any deeper or not while a close above the 9665 level could mean further upside.

Donear Ind. (Daily)

Last Close -- 630.90; Support -- 571, 506; Resistance -- 643, 676

Trading Range The scrip opened at 595.00, moved up to an intra-day high of 630.90, declined to an intra-day low of 592.00 and closed at 630.90.

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

Renuka Sug. (Daily)

Last Close -- 578.95; Support -- 557, 516; Resistance -- 590, 639

Trading Range The scrip opened at 533.70, moved up to an intra-day high of 578.95, declined to an intra-day low of 529.95 and closed at 578.95.

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

Milkfood. (Daily)

Last Close -- 050.80; Support -- 049, 044; Resistance -- 058, 075

Trading Range The scrip opened at 047.20, moved up to an intra-day high of 050.80, declined to an intra-day low of 047.20 and closed at 050.80.

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.

Int'nl Convey. (Daily)

Last Close -- 107.90; Support -- 100, 086; Resistance -- 114, 148

Trading Range The scrip opened at 102.55, moved up to an intra-day high of 107.90, declined to an intra-day low of 100.00 and closed at 107.90.

Review/Outlook The scrip has reflected strength by moving virtually from open to close 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.