Stock picks for today

The market has had a volatile trading session to basically come off its intra-day high and has finally ended the day in positive territory. Capital Goods, Banks, Consumer Durables, Metals FMCG, Pharma, IT, Auto, PSUs & Oil have ended positive in varying degrees while no sector has ended in negative territory. Volume registered a minor increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close -- 11572.20; Support -- 11536, 11453; Resistance -- 11618, 11707

Trading Range: The Sensex opened at 11589.35, moved up to an intra-day high of 11635.25, declined to an intra-day low of 11542.10 and closed at 11572.20.

Review/Outlook: The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day high to end sharply in positive territory on slightly better volume and has managed to close above the 11000 level for the thirteenth trading session in a row. The outlook seems to be improving and despite the extreme volatility, a range bound movement cannot be ruled out while the intra-day charts seem rather hazy and an upside could come in only above the 11635 level - the sanctity of the 11330 level needs to be maintained at all times.

Aegis Logistics (Daily)

Last Close -- 176.85; Support -- 155, 133; Resistance -- 183, 230

Trading Range: The scrip opened at 172.00, moved up to an intra-day high of 176.85, declined to an intra-day low of 170.10 and closed at 176.85.

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.

Harrisons Mal (Daily)

Last Close -- 090.70; Support -- 072, 061; Resistance -- 108, 133

Trading Range: The scrip opened at 086.55, moved up to an intra-day high of 090.70, declined to an intra-day low of 086.15 and closed at 090.70.

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.

Shaw Wallace (Daily)

Last Close -- 139.20; Support -- 121, 092; Resistance -- 140, 173

Trading Range: The scrip opened at 128.25, moved up to an intra-day high of 139.20, declined to an intra-day low of 128.00 and closed at 139.20.

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.

Lakshmi Electrical (Daily)

Last Close -- 276.85; Support -- 255, 216; Resistance -- 280, 326

Trading Range: The scrip opened at 258.00, moved up to an intra-day high of 276.85, declined to an intra-day low of 256.05 and closed at 276.85.

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.