Stock picks for August 14

The market has staged one of its trademark recoveries to end once again in positive territory.

Banks, capital goods, FMCG, consumer durables, pharma, IT and PSUs all remained positive. Volume was mixed -- BSE was down, NSE was up (read as turnover) while the undertone was bullish.

Sensex --Last Close: 3926.07 | Support: 3895, 3759 | Resistance: 4028, 4166

Trading Range -- The Sensex opened at 3910.86, moved up to an intra-day high of 3935.80, declined to an intra-day low of 3874.34 and closed at 3926.07.

Review/Outlook -- The Sensex has recovered from its intra-day low to give an upward "key" reversal (bullish intra-day pattern) on lower volume while a further upside seems to be on the cards.

Titan --Last Close: 79.85 | Support: 70, 50 | Resistance: 83, 103

Trading Range -- The scrip opened at 77.70, moved up to an intra-day high of 82.20, declined to an intra-day low of 75.50 and closed at 79.85.

Review/Outlook -- The scrip has reflected strength by posting an upward "key" reversal (bullish intra-day pattern) and with the oscillators looking better, a further upside seems possible.

Siemens --Last Close: 406.00 | Support: 397, 344 | Resistance: 445, 500

Trading Range -- The scrip opened at 390.00, moved up to an intra-day high of 407.50, declined to an intra-day low of 390.00 and closed at 406.00.

Review/Outlook -- The scrip has entered an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out.

Aurobindo Pharma --Last Close: 373.30 | Support: 350, 317 | Resistance: 395, 432

Trading Range -- The scrip opened at 385.00, moved up to an intra-day high of 385.50, declined to an intra-day low of 372.75 and closed at 373.30.

Review/Outlook -- The scrip has reflected weakness by closing below a demand line and with the oscillators looking negative, further depreciation seems to be on the cards.

Indian Rayon --Last Close: 175.25 | Support: 171, 157 | Resistance: 217, 249

Trading Range -- The scrip opened at 173.35, moved up to an intra-day high of 176.80, declined to an intra-day low of 170.00 and closed at 175.25.

Review/Outlook -- The scrip has reflected strength by giving an upward "key" reversal (bullish intra-day pattern) and with the indicators looking strong, a further upside seems to be on the cards.

Stock Track

Scrip Support Last Close Resistance Trend ACC 203, 188 209.05 219, 243 Up HLL 172, 163 175.55 183, 192 Up  INFOSYS 2985, 2405 3453.65 3468, 3977 Sd  ITC 759, 665 771.05 802, 882 Tu MTNL 124, 115 126.50 139, 157 Up RIL 345, 324 361.55 374, 407 Tu SATYAM 199, 173 199.20 224, 253 Td SBI 415, 380 432.15 450, 488 Sd TELCO 232, 215 248.15 260, 284 Up TISCO 231, 220 240.25 260, 295 Up 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, CMP - Current Market Price, 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. DISCLAIMER : While efforts have been made to ensure the accuracy of the information provided in this content, the authors shall not be held responsible for any loss, harm or injury arising in any manner whatsoever, including those arising directly, indirectly, consequentially or otherwise and whether financial, mental or otherwise, caused to any person whatsoever who accesses or uses or is supplied with the content (consisting of articles, information, analyses, etc.) provided at this site or who otherwise relies on such content. Readers are advised to cross verify the information and to also seek professional and expert advice before taking any decision based on the content provided above or acting on any recommendations made herein. The information or opinions provided herein are not a substitute for professional advice. Sebi Disclosure: The author has no positions in the stocks mentioned above