Stocks picks for today

The market has had a good intra-day upmove to basically come off its intra-day high and has finally ended the day in positive territory.

Consumer Durables, Pharma, Auto, Capital Goods, Banks, FMCG, IT, PSUs & Oil have ended positive in varying degrees while Metals have ended in negative territory. Volume registered a noticeable increase (read as turnover) while the undertone seemed better.

Sensex (Daily)

Last Close -- 11706.85; Support -- 11618, 11536; Resistance -- 11707, 11826

Trading Range: The Sensex opened at 11651.96, moved up to an intra-day high of 11739.77, declined to an intra-day low of 11651.96 and closed at 11706.85.

Review/Outlook: The Sensex has faced alternate bouts of both, buying & selling and has come off its intra-day high to end smartly in positive territory on much better volume and has managed to close above the 11000 level for the fifteenth 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 a downside seems like a possibility below the 11689 level - the sanctity of the 11330 level needs to be maintained at all times.

Taneja Aero. (Daily)

Last Close -- 150.25; Support -- 147, 130; Resistance -- 157, 173

Trading Range: The scrip opened at 146.90, moved up to an intra-day high of 150.25, declined to an intra-day low of 144.00 and closed at 150.25.

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.

Galaxy Ent. (Daily)

Last Close -- 171.05; Support -- 149, 105; Resistance -- 203, 241

Trading Range: The scrip opened at 166.70, moved up to an intra-day high of 171.05, declined to an intra-day low of 165.00 and closed at 171.05.

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.

Mather Platt. (Daily)

Last Close -- 119.25; Support -- 087, 067; Resistance -- 125, 160

Trading Range: The scrip opened at 116.00, moved up to an intra-day high of 119.25, declined to an intra-day low of 116.00 and closed at 119.25.

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.

Malwa Cotton. (Daily)

Last Close -- 116.70; Support -- 107, 088; Resistance -- 131, 168

Trading Range: The scrip opened at 116.70, moved up to an intra-day high of 116.70, declined to an intra-day low of 114.50 and closed at 116.70.

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.

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.