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.

Auto, Capital Goods, IT, Metal, Oil, PSU Banks, Consumer Durables, FMCG & Pharma have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a wafer thin increase (read as turnover) while the undertone seemed hopeful.

Sensex (Daily)

Last Close -- 11014.97; Support -- 10947, 10884; Resistance -- 10052, 11186

Trading Range: The Sensex opened at 10839.53, moved up to an intra-day high of 11028.02, declined to an intra-day low of 10839.53 and closed at 11014.97.

Review/Outlook: The Sensex has received significant support at lower levels and has recovered from its intra-day low to end in positive territory on marginally higher volume and has finally managed to close above the 11000 level. The outlook 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 inconclusive movements, an upside above the 11028 level cannot be ruled out.

Clutch Auto (Daily)

Last Close -- 125.80; Support -- 116, 098; Resistance -- 131, 157

Trading Range: The scrip opened at 114.90, moved up to an intra-day high of 125.80, declined to an intra-day low of 114.90 and closed at 125.80.

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.

Marksans (Daily)

Last Close -- 113.10; Support -- 105, 087; Resistance -- 120, 047

Trading Range: The scrip opened at 112.00, moved up to an intra-day high of 113.10, declined to an intra-day low of 112.00 and closed at 113.10.

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.

Paramount Comm (Daily)

Last Close -- 151.90; Support -- 146, 136; Resistance -- 177, 199

Trading Range: The scrip opened at 144.50, moved up to an intra-day high of 153.80, declined to an intra-day low of 141.95 and closed at 151.90. 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.

Vakrangee Soft (Daily)

Last Close -- 150.85; Support -- 150, 130; Resistance -- 200, 223

Trading Range: The scrip opened at 148.00, moved up to an intra-day high of 150.85, declined to an intra-day low of 145.35 and closed at 150.85.

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.