Stock picks for today

The market has moved up smartly but hasn't been able to sustain itself at higher levels and has ended in negative territory. Banks, capital goods, FMCG and the pharma sectors have all ended positive in varying degrees, while consumer durables, IT and PSUs have ended in negative territory.

Volume registered a moderate increase (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close -- 9241.76; Support -- 9176, 9100; Resistance -- 9348, 9400

Trading Range: The Sensex opened at 9264.99, moved up to an intra-day high of 9309.01, declined to an intra-day low of 9199.85 and closed at 9241.76.

Review/Outlook: The Sensex has once again gone on to post a fresh all time high but has run into resistance at higher levels to end in negative territory and has actually given a downward key reversal. A range bound movement cannot be ruled out while any intra-day weakness could come in only below the 9199 level.

Asian Elect. (Daily)

Last Close -- 332.05; Support -- 324, 286; Resistance -- 350, 400

Trading Range: The scrip opened at 308.50, moved up to an intra-day high of 332.05, declined to an intra-day low of 303.70 and closed at 332.05.

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.

Yuken India (Daily)

Last Close -- 314.55; Support -- 300, 260; Resistance -- 330, 358

Trading Range: The scrip opened at 296.00, moved up to an intra-day high of 314.55, declined to an intra-day low of 296.00 and closed at 314.55.

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.

Atul Auto (Daily)

Last Close -- 173.05; Support -- 155, 132; Resistance -- 200, 250

Trading Range: The scrip opened at 169.95, moved up to an intra-day high of 173.05, declined to an intra-day low of 169.95 and closed at 173.05.

Review/Outlook: The scrip has reflected strength by posting a fresh all time high and with the indicators looking positive, a further upside seems to be on the cards.

Networth Stk. (Daily)

Last Close -- 055.00; Support -- 050, 039; Resistance -- 060, 066

Trading Range: The scrip opened at 052.50, moved up to an intra-day high of 055.00, declined to an intra-day low of 051.00 and closed at 055.00.

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 be having positions in the stocks mentioned above.