Stock picks of the day

The market has had a volatile trading session to basically come off its intra-day low and has finally ended the day in positive territory. Consumer Durables, Capital Goods, FMCG, IT, Oil & PSU have ended positive in varying degrees while Banks, Pharma, Auto & Metal have ended in negative territory. Volume registered a wafer-thin decrease (read as turnover) while the undertone seemed mixed.

Sensex (Daily)                                                                     

Last Close -10751.66 | Support - 10740, 10662 | Resistance - 10884, 10947

Trading Range - The Sensex opened at 10737.50, moved up to an intra-day high of 10777.47, declined to an intra-day low of 10645.99 and closed at 10751.66.

Review/Outlook - The Sensex has rebounded after receiving support at lower levels and has recovered from its intra-day low to end just about in positive territory on marginally lower volume - it has also closed above the 55 Day EMA. The outlook has seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts would seem to suggest an upside above the 10778 level while intra-day downside could come in below the 10645 level.  

Guj. Alkalies. (Daily)                                                 

Last Close - 173.50 | Support - 165, 136 | Resistance - 183, 213

Trading Range - The scrip opened at 155.00, moved up to an intra-day high of 173.50, declined to an intra-day low of 150.00 and closed at 173.50.

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. 

Areva. (Daily)                                                 

Last Close - 631.95 | Support - 554, 514 | Resistance - 682, 779

Trading Range - The scrip opened at 605.00, moved up to an intra-day high of 638.05, declined to an intra-day low of 590.00 and closed at 631.95.

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.      

Bhartiya Int. (Daily)                                        

Last Close - 115.05 | Support - 101, 074 | Resistance - 116, 128

Trading Range - The scrip opened at 110.00, moved up to an intra-day high of 115.20, declined to an intra-day low of 110.00 and closed at 115.05.

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.       

Ansal Infra. (Daily)                                             

Last Close - 405.05 | Support - 341, 302 | Resistance - 411, 455 

Trading Range - The scrip opened at 388.70, moved up to an intra-day high of 405.85, declined to an intra-day low of 367.50 and closed at 405.05.

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.              

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 even be having contrary positions in the stocks mentioned above. 
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