Stock picks of the day

The market has remained relatively range bound after taking support at lower levels to end in positive territory. Banks, capital goods, consumer durables, FMCG, IT and PSUs all ended positive in varying degrees while it was the pharma sector which has continued to remain a laggard.

Volume registered a marginal decrease (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close -- 7991.74 -- Support -- 7983, 7843 -- Resistance -- 8083, 8144

Trading Range: The Sensex opened at 7974.17, moved up to an intra-day high of 8074.08, declined to an intra-day low of 7921.44 and closed at 7991.74.

Review/Outlook: The Sensex has reflected indecision to stay within the previous day's trading range and the positive closing seems to suggest a small upside but the 8067 level could provide the impediment in terms of resistance.

Shriram Tran. Fin. Co. (Daily)

Last Close -- 094.60 -- Support -- 086, 074 -- Resistance -- 098, 105

Trading Range: The scrip opened at 088.00, moved up to an intra-day high of 094.60, declined to an intra-day low of 087.10 and closed at 094.60.

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. 

Rajapalayam Mills (Daily)

Last Close -- 523.65 -- Support -- 501, 473 -- Resistance -- 550, 594

Trading Range: The scrip opened at 523.65, moved up to an intra-day high of 523.65, declined to an intra-day low of 523.50 and closed at 523.65.

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.

Tata Motors (Daily)

Last Close -- 520.20 -- Support -- 518, 494 -- Resistance -- 543, 568

Trading Range: The scrip opened at 518.00, moved up to an intra-day high of 523.00, declined to an intra-day low of 509.75 and closed at 520.20.

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.  

i-flex solutions (Daily)

Last Close -- 894.35 -- Support -- 875, 840 -- Resistance -- 900, 937

Trading Range: The scrip opened at 890.00, moved up to an intra-day high of 899.00, declined to an intra-day low of 874.00 and closed at 894.35.

Review/Outlook: The scrip has reflected strength by taking support on the 875 level and with the indicators looking positive, a further upside 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.