Stock picks for today

The market has remained in a positive state of mind, has come off its intra-day low and has finally ended the day in positive territory.

Consumer durables, healthcare, PSU, auto, capital goods, metals, oil, banks & FMCG have ended positive in varying degrees while the IT sector has ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed bullish.

Sensex (Daily)

Last Close -- 14499.24; Support -- 14454, 14325; Resistance -- 14524, 14620

Trading Range: The Sensex opened at 14415.56, moved up to an intra-day high of 14526.44, declined to an intra-day low of 14406.67 and closed at 14499.24.

Review/Outlook: The Sensex has reflected significant amount of strength, has had a rather strong opening, has improved from further from its opening levels after receiving strong buying support has come off from its intra - day low, has finally ended in positive territory on clearly higher volume. Volatility can be the order of the day; an intra-day upside (seems like a possibility) could come in above the 14526 level while some resistance at higher levels (14576) -- could limit the upside. The outlook seems to have turned better again while resistance comes in at the 14679+ level and support comes in at the 14040 level.

Vakrangee Soft. (Daily)

Last Close -- 161.95; Support -- 150, 130; Resistance -- 162, 207

Trading Range: The scrip opened at 151.00, moved up to an intra-day high of 151.95, declined to an intra-day low of 151.00 and closed at 161.95.

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.

Simplex Real. (Daily)

Last Close -- 194.95; Support -- 193, 160; Resistance -- 224, 260

Trading Range: The scrip opened at 192.00, moved up to an intra-day high of 198.00, declined to an intra-day low of 190.00 and closed at 194.95.

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.

Ess Dee Alumin. (Daily)

Last Close -- 516.90; Support -- 500, 468; Resistance -- 550, 600

Trading Range: The scrip opened at 500.00, moved up to an intra-day high of 517.10, declined to an intra-day low of 491.00 and closed at 516.90.

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.

UTV Softw. (Daily)

Last Close -- 571.70; Support -- 558, 496; Resistance -- 600, 650

Trading Range: The scrip opened at 564.80, moved up to an intra-day high of 579.45, declined to an intra-day low of 560.00 and closed at 571.70.

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.

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 even be having contrary positions in the stocks mentioned above.