Stock picks for today

The market hasn't been able to sustain itself at higher levels despite a rather good opening and has ended the day clearly in negative territory.

Consumer durables, pharma, auto, oil and PSUs have ended positive in varying degrees, while banks, capital goods, FMCG, IT and metals have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 10860; Support -- 10800, 10740; Resistance -- 10900, 11000

Trading Range: The Sensex opened at 10902, moved up to an intra-day high of 10951, declined to an intra-day low of 10844 and closed at 10860.

Review/Outlook: The Sensex has once again created history to post a fresh all time high but has come off quite a bit from an intra-day point of view to end in negative territory by giving a downward key reversal on higher volume thereby indicating the possibility of an intra-day downside especially below the 10844 level.

J L Morison (Daily)

Last Close -- 362.60; Support -- 352, 325; Resistance -- 376, 425

Trading Range: The scrip opened at 354.50, moved up to an intra-day high of 362.60, declined to an intra-day low of 346.00 and closed at 362.60.

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.

G M Brew (Daily)

Last Close -- 081.40; Support -- 069, 058; Resistance -- 091, 108

Trading Range: The scrip opened at 080.10, moved up to an intra-day high of 081.40, declined to an intra-day low of 080.10 and closed at 081.40.

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.

J J Exporter (Daily)

Last Close -- 094.35; Support -- 086, 075; Resistance -- 096, 110

Trading Range: The scrip opened at 078.10, moved up to an intra-day high of 094.35, declined to an intra-day low of 078.10 and closed at 094.35.

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.

Nagreeka Exports (Daily)

Last Close -- 086.55; Support -- 081, 069; Resistance -- 087, 099

Trading Range: The scrip opened at 085.00, moved up to an intra-day high of 086.55, declined to an intra-day low of 084.80 and closed at 086.55.

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.

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.

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