Stock picks for September 2

The market has posted another new high to finish once again on a strong footing in positive territory.

Banks, consumer durables, FMCG, IT, Pharma, capital goods and PSUs all ended quite positive in varying degrees. Volume registered a decrease (read as turnover) while the undertone was bullish.

Sensex -- Last Close --  4324.76 -- Support -- 4166, 4028 -- Resistance -- 4328, 4554

Trading Range – The Sensex opened at 4284.07, moved up to an intra-day high of 4329.57, declined to an intra-day low of 4284.07 and closed at 4324.76.

Review/Outlook – The Sensex has once again posted a new high (a 29 month high – on higher volume) while the intermediate uptrend is going from strength to strength. It has been a broad based rally across sectors while it is the PSU sector which is in a phenomenal bull run.  

Century Textiles -- Last Close – 122.55 -- Support – 114, 080 -- Resistance – 150, 211

Trading Range – The scrip opened at 111.40, moved up to an intra-day high of 123.75, declined to an intra-day low of 111.40 and closed at 122.55.

Review/Outlook – The scrip has reflected strength by giving an upward breakout from a consolidation phase and with the indicators looking strong, a further upside seems to be on the cards.  

Siemens -- Last Close – 428.75 -- Support – 397, 344 -- Resistance – 445, 500

Trading Range – The scrip opened at 417.00, moved up to an intra-day high of 437.00, declined to an intra-day low of 417.00 and closed at 428.75.

Review/Outlook – The scrip is in the midst of an intermediate uptrend and with the oscillators signalling a buy, a further upside cannot be ruled out. 

BASF -- Last Close – 148.45 -- Support – 146, 124 -- Resistance – 166, 180

Trading Range – The scrip opened at 139.50, moved up to an intra-day high of 149.00, declined to an intra-day low of 139.50 and closed at 148.45.

Review/Outlook – The scrip has reflected strength by posting a 47 month high and with the oscillators looking positive, further appreciation seems to be on the cards.

Adani Exports -- Last Close – 223.95 -- Support – 223, 195 -- Resistance – 260, 292

Trading Range – The scrip opened at 198.95, moved up to an intra-day high of 226.00, declined to an intra-day low of 195.00 and closed at 223.95.

Review/Outlook – The scrip is in the midst of an intermediate uptrend and with the indicators looking strong, a further upside seems to be on the cards.