Stock picks of the day

The market hasn't been able to sustain itself after facing resistance to end in negative territory. Banks, consumer durables, capital goods, FMCG, IT, pharma and the PSU sector have ended negative in varying degrees while Consumer Durables, pharma and the PSU sector have ended in positive territory. Volume registered a significant increase (read as turnover) while the undertone seemed mixed.

Sensex (Daily)

Last Close – 9257.51; Support – 9176, 9113; Resistance – 9274, 9348

Trading Range – The Sensex opened at 9292.18, moved up to an intra-day high of 9350.82, declined to an intra-day low of 9207.27 and closed at 9257.51.

Review/Outlook – The Sensex has found life difficult at higher levels, has cooled off significantly from its intra-day high after facing resistance at the 9348 level and has actually given a downward key reversal on higher volume to end in negative territory. A range bound movement cannot be ruled out while intra-day weakness could creep in below the 9207 level.

Hero Honda (Daily)

Last Close – 851.80; Support – 841, 819; Resistance – 866, 901

Trading Range – The scrip opened at 865.00, moved up to an intra-day high of 868.90, declined to an intra-day low of 849.00 and closed at 851.80.

Review/Outlook – The scrip has reflected strength by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.

Asha. Minech (Daily)

Last Close – 941.55; Support – 876, 801; Resistance – 950, 999

Trading Range – The scrip opened at 859.60, moved up to an intra-day high of 941.55, declined to an intra-day low of 848.00 and closed at 941.55.

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.

I.C.S.A. (Daily)

Last Close – 623.95; Support – 608, 581; Resistance – 624, 672

Trading Range – The scrip opened at 606.00, moved up to an intra-day high of 623.95, declined to an intra-day low of 605.00 and closed at 623.95.

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.

Asian Electronics (Daily)

Last Close – 366.40; Support – 352, 319; Resistance – 381, 423

Trading Range – The scrip opened at 370.00, moved up to an intra-day high of 377.00, declined to an intra-day low of 365.00 and closed at 366.40.

Review/Outlook – The scrip has reflected weakness by declining from its intra-day high and with the indicators looking negative, a further downside seems to be on the cards.